UEM Sunrise said the joint venture company Inneonusa which was formed between Telekom Malaysia and Iskandar will be dissolved as the parties have entered into a Termination Agreement to mutually terminate the agreement.
Inneonusa Sdn Bhd was incorporated in Malaysia on 24 July 2014 with an issued and paid-up share capital is RM15,000,000 divided into 15,000,000 ordinary shares. Its principal activity is to carry on the business of a managed services operating company to provide smart in-building and smart city services around Iskandar Puteri.
The company in 2018 launched the new Smart City Urban Design Guidelines (SCUDG) and Smart City Centralised Monitoring Services (SCCMS) in Medini Johor, and was supposed to turn Iskandar Puteri into a Smart City by revolutionising security and surveillance monitoring services in the area 24/7 via a managed team of certified and licensed personnel.
The mutually agreed termination was in line with UEM Sunrise’s initiative to streamline its asset portfolio, allowing the company to better focus on its core business
