KUALA LUMPUR: UEM Sunrise Bhd has inked a memorandum of understanding with nine local companies to collaborate under its vendors partnership programme.

       In a statement, the property developer said the partnership programme aims to explore long-term synergies and cooperation between UEM Sunrise and participating companies in the areas of marketing, innovation and cost savings.

       The nine participating companies include Guocera Sdn Bhd, Bofi (Malaysia) Sdn Bhd, Innocera Marketing Sdn Bhd, Cement Industries of Malaysia Bhd, Panasonic Malaysia Sdn Bhd, Signature Cabinet Sdn Bhd, Aurum Precast Sdn Bhd and Gamuda IBS Sdn Bhd.

       “Our partnership programme allows us to collaborate closely with our partners in the long run, and we look forward to achieving these synergies as part of managing the risk of price fluctuations and supply and demand uncertainties.

       "We hope by building such relationship; we would be able to manage our cost structure better and deliver the right values to our customers”, said UEM Sunrise CEO Sufian Abdullah.

       He added that given the volatility of the market, UEM Sunrise will continue to monitor and fine-tune its pricing strategy based on several key cost elements aside from the prices of building materials.

       He is also optimistic that the company’s long-term partnership programme with its vendors will help to provide solutions in addressing these rising costs in the market.