IOI Corp Bhd is buying close to 12,000ha of matured oil palm estates from Dutaland Bhd for RM830 million.
In a filing to the stock exchange yesterday, IOI said the planned purchase will help expand the group's agriculture landbank in Malaysia by 7 per cent to 190,862ha.
"This is the best price we can get. We negotiated for many months," said IOI Corp executive chairman Tan Sri Lee Shin Cheng, who is known to enjoy bargain hunting.
"We like this block because it's adjacent to our existing plantation in Sabah," Lee told Business Times yesterday.
In a filing to the stock exchange yesterday, IOI said the planned purchase will help expand the group's agriculture landbank in Malaysia by 7 per cent to 190,862ha.
"This is the best price we can get. We negotiated for many months," said IOI Corp executive chairman Tan Sri Lee Shin Cheng, who is known to enjoy bargain hunting.
"We like this block because it's adjacent to our existing plantation in Sabah," Lee told Business Times yesterday.
No comments:
Post a Comment