MSM selling plantation land to F&N for RM156mil

MSM, a sugar producer, said the proposed disposal was part of its asset rationalisation exercise, as the company reorganise its core business to focus on sugar refining. “With negligible revenue generating activities, it is less damaging to proceed with the disposal than to retain the land at high operating costs, ” it said in a filing with Bursa Malaysia yesterday

KUALA LUMPUR: MSM Malaysia Holdings Bhd is selling 4,453ha of plantation land, known as Ladang Chuping in Perlis, to Fraser & Neave Holdings Bhd for RM156mil cash.

The sugar producer said the proposed disposal was part of its asset rationalisation exercise, as the company reorganise its core business to focus on sugar refining.