Disposed of CMS Roads

Disposal of CMS Roads Sdn Bhd and CMS Pavement Tech Sdn Bhd to UBG Bhd

/in /by

On 2 July 2008, Utama Banking Group’s (UBG) acquisition of CMS Roads Sdn Bhd and CMS Pavement Tech Sdn Bhd was completed with the allotment of 44,652,000 new UBG shares to PPES Works (Sarawak) Sdn Bhd and the payment of a cash consideration of RM23.37 million to Sarawak Economic Development Corporation. CMS Roads Sdn Bhd and CMS Pavement Tech Sdn Bhd then became wholly-owned subsidiaries of UBG.