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Hap Seng buys Kretam in RM1.18bil worth deal


Hap Seng Plantations’ current landbank stands at 40,000ha of which about 36,000ha are planted with oil palm. It has a total of 16 estates and four oil mills, all located in Sabah – notably in the Lahad Datu, Tawau and Kota Marudu regions.

Hap Seng Plantations’ current landbank stands at 40,000ha of which about 36,000ha are planted with oil palm. It has a total of 16 estates and four oil mills, all located in Sabah – notably in the Lahad Datu, Tawau and Kota Marudu regions.

PETALING JAYA: Hap Seng Plantations Holdings Bhd is proposing to acquire a controlling stake in Kretam Holdings Bhd via two corporate exercises valued at a combined RM1.18bil.

Under the exercises, Hap Seng Plantations will increase its landbank and venture downstream into the edible oil and biodiesel segment, while Kretam will be able to resolve its longstanding shareholder spread issue.

Corporate News , Palm Oil , Kretam , Hap , Seng

   

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