TDM buys stake in TH Plantations subsidiary

“The proposed acquisition will increase TDM’s total planted area in Terengganu from 31,346 ha to 33,653 ha. In addition, the younger age profile of the estate will contribute positively to improve TDM overall average age profile, ” it said.

KUALA LUMPUR: TDM Bhd is buying a 70% stake in THP-YT Plantation Sdn Bhd from TH Plantations Bhd (THP) for consideration of RM7mil.

TDM said on Tuesday as part of the purchase of the stake, comprising of 25.90 million shares, TDM and THP agree to settle part of the inter-company advances by THP-YT to THP Suria Mekar Sdn Bhd (THSM) – a unit of THP – of RM78.68mil.