<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 3): UEM Sunrise Edgenta TMS Sdn Bhd (UEMSET) has terminated its joint-venture (JV) agreement with Township Management Services Sdn Bhd (TMS) to operate Edgenta TMS Sdn Bhd (ETSB), which was conceived in 2016 as the country's first holistic township management service operator.</p></div>

<div class=newsTextDataWrapInner><p>UEMSET is 70%-owned by UEM Edgenta Bhd and 30%-owned by UEM Sunrise Bhd. Meanwhile, Khazanah Nasional Bhd owns 100% in UEM Group Bhd.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, UEM Edgenta said the shareholders of ETSB has mutually agreed to terminate the JV agreement,with the intention of winding up ETSB.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It was noted that ETSB has recorded losses of RM116,000 and RM670,000 for the financial year ended June 30, 2018 (FY18) and FY19 respectively.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The JV company focused on township management services comprising facilities, estate and security management for building owners and residents of the Medini and Nusajaya townships in Iskandar Malaysia, Johor.</p></div>

<div class=newsTextDataWrapInner><p>TMS is a wholly-owned unit of Medini Iskandar Malaysia Sdn Bhd, which in turn is a 60%-owned subsidiary of Jasmine Acres Sdn Bhd. Khazanah is also the holding company of Jasmine Acres by virtue of its interests in Iskandar Investment Bhd and Iskandar Ventures Sdn Bhd.&nbsp;</p></div>


KUALA LUMPUR (Sept 3): UEM Sunrise Edgenta TMS Sdn Bhd (UEMSET) has terminated its joint-venture (JV) agreement with Township Management Services Sdn Bhd (TMS) to operate Edgenta TMS Sdn Bhd (ETSB), which was conceived in 2016 as the country's first holistic township management service operator.

UEMSET is 70%-owned by UEM Edgenta Bhd and 30%-owned by UEM Sunrise Bhd. Meanwhile, Khazanah Nasional Bhd owns 100% in UEM Group Bhd.

UEM Edgenta terminates JV with Township Management Services after incurring losses

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PADANG BESAR (April 26): Communications Minister Fahmi Fadzil said on Friday that the Terengganu government’s decision to reject the Territorial Sea Act 2012 through a motion passed in the State Legislative Assembly (DUN) on Thursday (April 25), has been seen as a cynical and hypocritical act.

Fahmi: Terengganu’s decision to reject Territorial Sea Act 2012 cynical, hypocritical

MOSCOW/LONDON (April 26): Russia's central bank held its key interest rate at 16% for the third meeting running on Friday, but raised its inflation forecast for 2024, acknowledging for the first time that it may struggle to reach its 4% target this year.

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Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's defamation lawsuit against former prime minister Tan Sri Muhyiddin Yassin is headed for a settlement after the two leaders agreed to end a personal dispute between them.

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Gadang Holdings Bhd has secured a RM280 million contract to design and develop the Klang Valley Data Centre Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of Telekom Malaysia Bhd.

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Matrix Concepts has unveiled the second phase of Resort Villa in Bandar Sri Sendayan, Seremban.

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Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

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