RM500m for Nusajaya development: UEM Land

Posted on | November 18, 2008

By BUSINESS TIMES

UEM Land Holdings Bhd said it plans to use the bulk of a loan or RM500 million to develop its Nusajaya township in Johor next year.

It is in talks with a group of five local banks to raise RM850 million through an Islamic loan. It expects to complete this in the first quarter of 2009.

UEM Land also plans to raise another RM400 million from a share sale.

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