Merger will leave UEM Sunrise saddled with debts, warns Najib

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The former prime minister adds UEM Sunrise has land bought at a low price decades ago and its debts are low, when compared to EcoWorld. FMTNews UEm NajibRazak

An artist’s impression of UEM Sunrise’s Puteri Harbour development on the southern coast of Johor, one of its many projects.

“It is Eco World which needs UEM Sunrise because their debt burden is high and the land they bought over the last few years was at a high price,” he said.“In my opinion, the loser will be UEM as well as Khazanah Nasional and it involves the people’s money,” Najib said. Najib further said Iskandar is also one of the main stations along the Singapore-Kuala Lumpur HSR express train route and the area is close to the Bukit Chagar station for the Singapore-Johor RTS train.

Source: News Formal (newsformal.com)

 

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Millions were laundered in SRC....1mdb in debt....

Im surprised he understands the concept of 'debt' since, he left 1MDB will a truckload of it. I expected that he wouldn't know since during his trial, it was a common statement made by him.

Why do we need to save some orang kata companies? I thought they were cock sure they would be better than the gomen’s company?

Saddled with debts? So is 1MDB.

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