Ansal Properties enters into MoU with UEM (Mauritius) Co. Ltd

Ansal Properties & Infrastructure Ltd has announced that the Company has entered into a MOU, on September 28, 2007, with UEM (Mauritius) Co. Ltd, {UEM}, to form a joint Venture Company in India {JVC}. The JVC shall carry out building construction and engineering works of various projects of the Company situated in various states to give impetus to its construction activities in terms of quality and timeliness.

UEM as part of UEM Builders is under UEM Group Berhad. This Group also has a strong presence in India since early 1990s. This Group is a leading and well diversified conglomerate in Malaysia and a wholly owned subsidiary of Khazana Nasional Berhad, an investment arm of the Malaysian Government. As one of the Malaysia's largest conglomerate and a preferred nation building partner there, it also has presence in other parts of Asia, in UK, Africa and Middle East Counties. With assets of more than USD $ 7.5 billion and shareholders funds in excess of USD $ 1.90 billion and human resource strength in excess of 19,000, it operates through more than 40 major subsidiaries and associate companies many of which are listed on Malaysian and London Stock exchanges

The stock closed the day at Rs.280.90, up by Rs.1.10 or 0.39%. The stock hit an intraday high of Rs.286 and low of Rs.276.70.

The total traded quantity was 88800 compared to 2 week average of 127413.

Source : Equity Bulls

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