KUALA LUMPUR: UEM Sunrise Bhd shares have risen 1.6 per cent today on rumours of the potential offer by former Renong Bhd (now unlisted UEM Group Bhd) executive chairman Tan Sri Halim Saad.
The stock closed at 63.5 sen with 2.03 million shares changing hands, giving it a market capitalisation of RM2.88 billion.
According to Bloomberg Intelligence (BI) data, UEM Sunrise’s share reached its highest intra-day at 64 sen during the mid-day trading or 2.4 per cent higher than yesterday’s closing of 62.5 sen.
BI data also indicated that highest share price of UEM Sunrise was recorded at 97.5 sen on August 9 this year, after plunging to its lowest price at 69.5 sen on June 5.
The highest it recorded in 2018 was RM1.21 on January 24.
NST Business reported today that Halim, who was The New Straits Times Press (M) Bhd chief executive officer (CEO) in the early 1980s, might be eyeing more than 30 per cent stake in UEM Sunrise
Khazanah has about 66 per cent interest in the property developer. Tabung Haji, which is the only other substantial shareholder in UEM Sunrise, owns 7.75 per cent.
UEM Sunrise CEO Anwar Syahrin Abdul Ajib, when contacted, said he was not in the position to comment on the matter.
"All i can say is that we are committed to managing the business to the best of our ability especially within this tough environment," Anwar Syahrin told NST Business.
It has been reported that Khazanah was looking to divest its stake in UEM Sunrise and had been looking for a suitor.
Property analysts are not surprised that Halim is the potential suitor as rumours have been rife that he was eyeing control of UEM Sunrise.
Halim has over 20 years of experience in managing conglomerates with diverse interests principally in buildings construction, highways and bridges construction, tolled road operations, light rail transport development, new township planning and development, telecommunication, production and distribution of cement, trading of pharmaceutical products and hotel management.