KUB buying Sabah plantation land for RM100.45mil

PETALING JAYA: KUB Malaysia Bhd is buying an oil palm plantation land in Kinabatangan, Sabah, from Kwantas Corp Bhd for RM100.45mil cash to expand its oil palm business.

“The proposed acquisition is in line with KUB’s plans to expand its agro business. This could generate immediate revenue, as the land has a significant number of prime mature palms with good yields,” KUB said in a filing with Bursa Malaysia yesterday.