Friday, February 11, 2011

Rimbunan Sawit buying 4,857 ha of oil palm plantation for RM118m

KUALA LUMPUR: RIMBUNAN SAWIT BHD []'s subsidiary, R.H. PLANTATION [] Sdn Bhd is buying 4,857 hectares of oil palm plantation in Niah for RM118 million.

It said on Friday, Feb 11, it had entered into a memorandum of understanding with Sheba Resources Sdn Bhd to purchase the land.

Sheba Resources is the registered owner of the land which has been charged to Agro Bank Malaysia Bhd for RM145.69 million.

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