NEW ENTITY FORMED, SET TO BE MALAYSIA’S FIRST HOLISTIC TOWNSHIP MANAGEMENT SERVICES OPERATOR

January 14, 2016 Press Release No Comments

KUALA LUMPUR, 13 January – A new entity formed via a joint venture between UEM Sunrise Edgenta TMS Sdn Bhd (“UEMSET”) and Township Management Services Sdn Bhd (“TMS”), a wholly-owned subsidiary of Medini Iskandar Malaysia Sdn Bhd (“MIMSB”), is set to be Malaysia’s first holistic township management services operator.

The yet to be named joint venture company, which sees UEMSET holding a 70 percent stake and TMS with 30 percent shareholding, was established to offer integrated facilities management services specifically for building owners and residents of Medini and Iskandar Puteri (formerly known as Nusajaya) townships.

The shareholders of UEMSET is Edgenta Township Management Services Sdn Bhd, wholly owned subsidiary of UEM Edgenta Berhad (“UEM Edgenta”, formerly known as Faber Group Berhad) and UEM Sunrise Berhad, 70:30 percent respectively.

At a joint venture shareholders’ agreement signing ceremony held today, Azmir Merican, Managing Director/Chief Executive Officer of UEM Edgenta said, “The joint venture allows each party to not only focus on their respective core businesses but more importantly we are able to collaborate and share our resources in providing a holistic, end-to-end township management services.

In due time, the new JV company will be the first holistic service provider offering township management services in Malaysia comprising Integrated Facilities Management, Estate Management and Security Management.

To ensure business owners and residents of both Medini and Iskandar Puteri receive only the best services, we will be capitalising on each of our expertise and track records as well as adopting some of the latest technology the industry has to offer.”

Datuk Ir Khairil Anwar Ahmad, Managing Director and Chief Executive Officer of Medini Iskandar Malaysia Sdn Bhd said, “As the master developer of Medini Iskandar Malaysia, we have progressed from master planning in 2009 to the completion in 2012 of all the infrastructure for the 2,230 acre-estate and now to becoming a developer ourselves, focusing on the development of office and commercial space. At the same time, we continuously strive to strengthen the Medini brand through various initiatives and our exciting partnership with UEMSET today will definitely contribute further to our vision and aspiration to enhance the livability and attractiveness of Medini.”

The services that will be introduced in phases include – Integrated Facilities Management at common areas and building assets comprising hard services, soft services (cleaning, pest control, landscape) and call centre.

Phase 2 will see it rolling out Estate Management such as road cleaning, landscaping drain maintenance, waste collection, street light maintenance and pond maintenance and Phase 3 will be Security Management where static security personnel will be managed by the new JV Company.

In addition, there are also plans to introduce other value added services, lifestyle services, property management services and community management services which will be developed and launched in due time.

On hand to witness the signing ceremony was Dato’ Izzaddin Idris, Group Managing Director/Chief Executive Officer of UEM Group Berhad and Zaida Khalida Shaari, Director of MIMSB. Also present at the event was Anwar Syahrin Abdul Ajib, Managing Director/Chief Executive Officer of UEM Sunrise Berhad.

Completion of this JVA will take thirty days after the date of the JVA upon subscription and issuance of the new JV Company shares by both parties.