KUALA LUMPUR, Aug 6 — Faber Group Bhd emerged as among the most actively traded counter this morning on the back of a proposed merger to streamline UEM Group Bhd’s assets and facility management under Faber Group.

As of 10.16am, Faber Group share prices soared 54 sen to RM2.34, with 16.568 million units exchanging hands.     

The corporate exercise would see the UEM Group selling its stake in Projek Penyelenggaraan Lebuhraya Bhd (Propel) and Opus Group Bhd to Faber Group for a value of up to RM1.15 billion.

Faber Group is one of UEM’s subsidiary business under the latter’s asset and facility management services.

In a filing to Bursa Malaysia yesterday, Faber Group said the company will be transformed into a total asset and facility management company with expertise and presence in the healthcare, infrastructure and commercial sectors upon the completion of the corporate exercise. – Bernama