PETALING JAYA: Cropmate Bhd is proposing to acquire a 1.6ha parcel of vacant industrial land in Bintulu, Sarawak, for RM12mil.
In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary, Cropmate Fertiliser Bintulu Sdn Bhd, had entered into a sale and purchase agreement with Dominant Potential Sdn Bhd to acquire the land in Kidurong Industrial Area Phase II or Kinda II.
The acquisition will be funded through a combination of bank borrowings and internally generated funds, and is expected to be completed by the third quarter of 2028.
The land will be used to build a fertiliser factory for the formulation and blending of conventional and speciality fertilisers, as well as for the warehousing of straight fertilisers and related products.
The factory will enable the group to improve supply efficiency, shorten delivery lead times, and better serve customers across Sabah and Sarawak, Cropmate added.
