KUALA LUMPUR: CIMB Investment Bank Bhd has been appointed as UEM Group Bhd adviser for the proposed merger between UEM Sunrise Bhd and Eco World Development Group Bhd.
"The board of directors of UEM Group has approved the appointment of CIMB Investment Bank Bhd as the adviser of UEM Group for the proposed merger," CIMB Investment said in a statement today.
"We wish to inform that the proposed merger is still being contemplated by the board of the respective
parties and neither of the parties have indicated any intention to commence discussion on this matter.
"Accordingly, there is no certainty that an agreement for the proposed merger will be reached," the bank added.
UEM Group, whch owns 66 per cent of UEM Sunrise, recently said it was expecting a decision on the proposal by October 30.