PETALING JAYA: Power Root Bhd
had inked a sale and purchase agreement (SPA) with Ree Fong Agriculture Sdn Bhd for the acquisition of five lots of freehold agricultural land in Kulai, Johor, for a cash consideration of RM19.99mil.
In a filing with Bursa Malaysia, it said the purchase consideration for the acquisition of the 3,483,524 sq ft land was determined via a willing-buyer and willing-seller basis, after taking into consideration the prevailing market value of the land within the vicinity and location.
