MRCB Acquires Stake in UDA Holdings Berhad.
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MRCB entered into Share Sale Agreement to acquire 100% equity of Landas Utama Sdn. Bhd. which holds a 24.93% equity stake in UDA Holdings Bhd. The acquisition was for a cash consideration of RM88 million. The agreement was signed on January 13, 2003.

UDA is a public listed company on the main board of the KLSE. It is involved in property management , investment, retail and the hospitality business. UDA's properties and land bank are located in the urban areas and some of their notable properties include Bukit Bintang Plaza, Pudu Raya Terminal, Sinar Kota and Pertama Shopping Complex.

With the 24.93% stake in UDA, MRCB plans to participate in the management of the company, making it an associate company of MRCB. This acquisition is an ideal move in MRCB's strategy to be a major construction and leading urban property developer in the country.