UEM Group Bhd is not aware of any market talk of a buyout of the group by MMC Corporation Bhd, said UEM managing director Datuk Izzaddin Idris today.

Based on media speculation reports, MMC has made an offer to buy UEM Group for RM15.6 billion.

'Any proposal to buy UEM will have to go through the shareholders. For us, we are just creating value, getting on with the business, growing the business, but I'm not aware of any proposal from MMC,' he told reporters on the sidelines of the group's Hari Raya open house today.

Khazanah Nasional Bhd, which controls UEM Group, has not given any signal to the group on the proposal, he said. UEM Group's listed entities include Plus Expressways Bhd, Faber Group Bhd, UEM Land Holdings Bhd and Time Engineering Bhd.

'My task is to streamline the business that we have (and) things are picking up within the group,' said Izzaddin. He said UEM expects to chalk up a higher profit after tax and minority interest than the RM600 million record last year.

'We have a very strong brand name and recognition. Faber is recognised in the Middle East while PLUS is well known in India. So, the capabilities are there.

On the sale of Time Engineering's 27.1 per cent stake in Time Dotcom Bhd, Izzaddin confirmed the group had received interests from a few unlisted companies.

'We are trying to grow the business first before looking to sell stakes in Time Engineering.

'The challenge is that the ICT is a very competitive industry. It's very challenging to turn it around. 'The board is actively looking for new projects and businesses for the company,' he added. -- Bernama