Ekovest buys stake in PLS Plantations from executive chairman Lim Kang Hoo

KUALA LUMPUR: Construction and property developer Ekovest Bhd is buying a 23.42% stake in PLS Plantations Bhd for RM76.5mil from a company controlled by its executive chairman Tan Sri Lim Kang Hoo.

The purchase price works out to RM1 per PLS share. Shares in PLS, which is involved in management and operation of forest plantation and oil palm plantation in Johor, fell two sen to close at 95 sen on Tuesday.