Ta Ann signs MoU with Borlin to take over timber licence

Ta Ann Holdings Bhd has signed a memorandum of understanding (MoU) with Borlin Sdn Bhd that could see the former gaining control of a timber licence covering 33,525ha in Sarawak. 

The MoU is conditional upon Borlin fulfilling certain conditions, one of which is obtaining the approval of the authorities to extend the validity period of the timber licence by a minimum of five years, Ta Ann said in a statement to Bursa Malaysia.