FGV unit buys MSM Perlis for RM175m

FGV has earmarked the 11 parcels of agricultural and industrial land owned by MSM Perlis for the development of the FGV Chuping Agro Valley (FCAV) by FGVIF, a new sector under the group.

KUALA LUMPUR: FGV Holdings Bhd’s unit FGV Integrated Farming Holdings Sdn Bhd (FGVIF) had on Tuesday signed an agreement to buy the entire 100 per cent equity interest in MSM Perlis Sdn Bhd, which owns about 4,500 hectares in Chuping, Perlis, for RM175 million.

MSM Perlis is a wholly-owned subsidiary of MSM Malaysia Holdings Bhd (MSM), which in turn is 51 per cent owned by the FGV group.