|
UEM Environment To Enter Business In UAE |
|
|
Written by Administrator
|
|
Sunday, 15 April 2007 |
|
KUALA LUMPUR, April 13 (Bernama) -- UEM World Bhd's unit, UEM Environment Sdn Bhd (UEME) is to form a venture company in the United Arab Emirates (UAE) to provide environmental and waste management services in the country.
It entered into a partners agreement with Abu Dhabi Commercial Agencies & Company Representation Est (ADCAR) on Thursday for the purpose.
KUALA LUMPUR, April 13 (Bernama) -- UEM World Bhd's unit, UEM Environment Sdn Bhd (UEME) is to form a venture company in the United Arab Emirates (UAE) to provide environmental and waste management services in the country.
It entered into a partners agreement with Abu Dhabi Commercial Agencies & Company Representation Est (ADCAR) on Thursday for the purpose.
UEME in a circular to Bursa Malaysia, said that it will own 49 per cent in the venture company, while ADCAR will hold the remaining 51 per cent stake.
The venture company will be incorporated in the UAE under the proposed name of KA Enviro LLC.
The initial issued and paid-up share capital of the company would be UAE Dirham (AED) 150,000.
UEME through its wholly-owned subsidiary, Kualiti Alam Sdn Bhd, is in the business of providing the collection, transportation, treatment and disposal of schedule waste and owns an integrated schedule waste management centre at Bukit Nanas, Negeri Sembilan.
It is necessary to incorporate this venture company as a vehicle to source for business opportunities in the UAE, it said.
The venture company will start bidding for various projects in the UAE by mid 2007.
Source : BERNAMA
|
