Sources say UEM group Bhd has stepped up its asset disposal programme by putting its 34% stake in Faber group Bhd respectively on the seller?s block.

It is believed that buyers have been hard to come by for Faber.

UEM Group wants to focus on its core businesses of property, construction and expressways.

UEM Group?s 34% holding in Faber, represented by 124.47 million shares, is worth some RM352 million based on rm2.83 a share.

Faber is involved in the integrated property management business. Speculations in the past that the Pantai Group of Hospitals was interested in buying Faber.

Faber has also the similar problem of getting buyers but for different reasons due to its valuation.

Faber?s NTA is RM1.11 per share and it had cash hoard of RM82 million in bank balances and RM254 million in short term deposits as at end of its 1QFY2010 ended march 31. Its borrowings totaled RM164 million in the same period while its trade and payables came up to RM257 million.

A catalyst for a re-rating of the stock is the impending renewal of its medical services concession sometime in 3Q2010. If the concession is renewed, it will further boost Faber?s valuation.