PLS Plantations unit enters JV for development of durian plantation

KUALA LUMPUR: PLS Plantations Bhd's 51%-owned unit PLS LESB Sdn Bhd has entered into a heads of agreement with Millennium Agriculture Technology Sdn Bhd (MAT) and its parent, MyFarm Inc Japan, to establish a joint venture to launch a large-scale durian cultivation project in Malaysia.

In a statement, PLS said MAT will assume up to 49% equity interest in the joint venture while PLS LESB will own the remaining 51%.