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Tuesday, November 8, 2011

Harvest Court eyes recycling company (OSK)

Harvest Court is close to acquiring a new business, which involves converting agricultural waste into paper, according to sources. The asset being injected into Harvest is believed to be a company called 1Green Enviro SB (Enviro), which is linked to its substantial shareholder Datuk Raymond Chan. Enviro is in the business of converting raw, empty palm oil fruit bunches into paper, which it claims is much cheaper than using pulp and corrugated cartons. Should the proposed acquisition of Enviro materialize, it would be a much different scenario from earlier speculation that Chan was mulling over injecting Sagajuta (Sabah) SB, the developer of the 1Borneo Mall in Kota Kinabalu, into Harvest. (Financial Daily)

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