JAKARTA: Kulim (M) Bhd is eyeing to take control of 40,645 ha of oil palm land through the acquisition of an Indonesian company for US$43.44mil (about RM140mil) and ventures in the oil and gas sector.
Its chairman Datuk Kamaruzzaman Abu Kassim said Kulim was acquiring a greenfield project in northern Barito, Central Kalimantan, Indonesia, to enable the group to diversify its geographical presence into other locations suitable for cultivation of palm oil apart from Malaysia, Papua New Guinea and the Solomon Islands.
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