Lotus KFM ventures into logging business with RM21.65mil deals

TheStar Mon, Jan 03, 2022 09:30am - 2 years View Original


Lotus KFM said its wholly-owned subsidiary Lotus Plantation Sdn Bhd last Friday inked a deal to buy Ladang Lojing Sdn Bhd from Lee Lip Khang, Datuk Roshaimi Razak and Kho Sau Hong for RM9.17mil cash.

KUALA LUMPUR: Lotus KFM Bhd has proposed to buy two companies with rights over forest reserve land in Perak and Kelantan for RM21.65mil cash.

The group said its wholly-owned subsidiary Lotus Plantation Sdn Bhd last Friday inked a deal to buy Ladang Lojing Sdn Bhd from Lee Lip Khang, Datuk Roshaimi Razak and Kho Sau Hong for RM9.17mil cash.

The deal will see Ladang Lojing, upon the issuance of titles, leasing forest reserve land measuring 1,030.44 ha from Yayasan Kelantan Darulnaim for 66 years, with an option to renew for a further 33 years, starting from the date where possession is delivered to Ladang Lojing.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

JADI 0.050
LOTUS 0.190

Comments

Login to comment.