Boustead Plantations plans to buy Sabah land for RM750mil

Deputy chairman cum group managing director Tan Sri Lodin Wok Kamaruddin(pic) said the company

PETALING JAYA: Boustead Plantations Bhd has proposed to acquire 11,600 ha of plantation land in Sabah from Pertama Land & Development Sdn Bhd for RM750mil.

The transaction, which is a cash consideration via its unit Boustead Rimba Nilai Sdn Bhd, will be for the 42 parcels of land located in the district of Labuk and Sugut, Sabah, and is inclusive of all movable fixed assets, machineries and vehicles located at the site.