EcoWorld-UEM Sunrise merger called off

The first day of the Movement Control Order saw EcoWorld Development Group calling off its proposed merger with UEM Sunrise Bhd.

EcoWorld chairman Tan Sri Liew Kee Sin said the decision was reached after evaluating the proposal with its current business plans while considering the current business environment following the re-introduction of the Movement Control Order.

Last October, UEM Group, which is the unlisted wholly-owned unit of Khazanah Nasional Bhd and the parent company of UEM Sunrise, had announced its proposal to merge its property development arm with EcoWorld in a share swap deal.

Had the merger gone through, it would have created the largest property company in the country and controlled by Khazanah.

BPN 2.0 PAYMENT STARTING JAN 21

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said his ministry will expedite payments under Bantuan Prihatin Nasional Phase 2 (BPN 2.0) to 11.06 million eligible recipients.

The payments totalling RM2.38 billion will be rolled out to the B40 group starting Jan 21 and M40 group starting Jan 25.

Tengku Zafrul said those without bank accounts would be able to receive payments at Bank Simpanan Nasional branches from Jan 25.

PUBLIC PARKS, PLAYGROUNDS IN KL SHUT

Kuala Lumpur City Hall said all public parks and playgrounds under its jurisdiction will be closed throughout the Movement Control Order.

SIC CANCELS TWO FEBRUARY EVENTS

Sepang International Circuit announced the cancellation of the MotoGP Sepang Official Test and the Shakedown Test due to the Covid-19 pandemic.

The events were slated for Feb 12 to 21.

HEALTH EMERGENCY, NOT POLITICAL EXPEDIENCY, SAYS ANALYST

The emergency declaration is not meant to ensure Prime Minister Tan Sri Muhyiddin Yassin continues to cling on to power, says Universiti Sains Malaysia’s Assoc Prof Dr Azeem Fazwan Ahmad Farouk

FROM POLICE FINGERPRINT EXAMINER TO ATHLETICS OFFICIAL, VEGIYATHUMAN SHARES LIFE AFTER SPORTS

It’s been barely a month since Datuk S. Vegiyathuman left the Federal Territory Kuala Lumpur Athletics Association as its president. Forced to give up sports due to health issues, the former police fingerprint examiner takes a look at the regrets and joys of his involvement in athletics in Malaysia.

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