KUALA LUMPUR: FAR EAST HOLDINGS BHD [] is acquiring 1,577.89 ha (3,899.06 acres) of agricultural land in Rompin and Pekan in Pahang for RM25.34 million.
It said on Friday, July 22 that it had agreed to pay the RM25.34 million to the office of Pahang Director of Land and Mines for the proposed land acquisition.
At present, the land was planted with oil palm trees and some parts were near its existing PLANTATION []s.
'The purchase consideration for the proposed land acquisition is RM25.34 million which is equivalent to RM6,500 per acre,' it said, adding that it would finance the acquisition with internal funds.
'The proposed land acquisition is in line with the expansion plan by Far East Holdings and would broaden our income base. It is expected to contribute positively to our future prospects and earnings,' it said.
It said on Friday, July 22 that it had agreed to pay the RM25.34 million to the office of Pahang Director of Land and Mines for the proposed land acquisition.
At present, the land was planted with oil palm trees and some parts were near its existing PLANTATION []s.
'The purchase consideration for the proposed land acquisition is RM25.34 million which is equivalent to RM6,500 per acre,' it said, adding that it would finance the acquisition with internal funds.
'The proposed land acquisition is in line with the expansion plan by Far East Holdings and would broaden our income base. It is expected to contribute positively to our future prospects and earnings,' it said.
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