SOCFIN Plantations Sdn Bhd's last remaining oil palm estates in Malaysia, totalling some 14,963ha and recently put up for sale via tender, has been snapped up by two Malaysian groups, public-listed United Plantations Bhd and investment holding group Achi Jaya.
United Plantations executive director (finance and marketing) Martin Bek-Nielsen told StarBiz yesterday the plantation group had signed a sale and purchase agreement to acquire 2,889ha of Lima Blas Estate in Ulu Selangor comprising an oil palm estate with workers' quarters, staff and executive bungalows, club-house and a 30-tonne oil mill for RM118mil in cash.