KUALA LUMPUR: TH Plantations Bhd's (THP) land bank is expected to reach 110,000ha by end-April once the group completes the acquisition of 14,000ha of land in Kalimantan. Chief executive officer Datuk Zainal Azwar Zainal Aminuddin said the acquisition of PT Persada Kencana Prima, which owned the land, was in the midst of completion.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/2/21/business/12738136&sec=business
Published: February 21, 2013
Source from (The Sun Daily): http://www.thesundaily.my/news/618422
Published: February 21, 2013
Speaking after the group EGM, he said the group's total plantation land bank now stood at 97,592ha after the acquisition of two oil palm plantation companies in Sarawak for RM254.59mil.
During the EGM, shareholders approved the acquisition of Bumi Suria Ventures Sdn Bhd and Maju Warisanmas Sdn Bhd.
Both companies collectively own 6,514ha of plantation land, of which, 5,500ha have been planted with oil palm.
Zainal said upon completion of the acquisitions, THP's total land under oil palm cultivation would increase to 66,980ha from 60,790ha currently.
Following the acquisition, the output of fresh fruit bunches would increase from 500,000 tonnes to 800,000 tonnes per year, he added.
“These acquisitions are timely and in line with our continued expansion plan at strategic locations to complement the existing growth strategy.
“It is also timely for us to consolidate and add value to all the acquisitions in terms of development and enhance yield and productivity,” Zainal said. - Bernama
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