KUALA LUMPUR (March 20): KUALA LUMPUR KEPONG BHD [] is expanding its oil palm PLANTATION [] area in Indonesia with the acquisition of PT. Global Primatama Mandiri (PT GM) which has the rights for 7,400 ha of land in Kalimantan for plantations.
KLK said on Tuesday its subsidiary KL-Kepong Plantation Holdings Sdn Bhd (KLKPH) had entered into two agreements to acquire 90% of PT GM for RM3.60 million.
KLKPH would acquire a 52.4% equity stake in PT GPM from Handojo Leman Byono and another 37.6% from Joniansyah respectively.
KLK said PT GPM holds a certificate of licensed location for 7,400 ha of land in Kecamatan Kelay, Kabupaten Berau, east Kalimantan which it intends to develop into oil palm plantations in due course.
“The purchase consideration will be financed by KLK’s internally generated funds,” it said. “The proposed acquisition is in line with KLK’s strategy to further increase KLK Group’s oil palm plantation area in Indonesia.”
KLK said on Tuesday its subsidiary KL-Kepong Plantation Holdings Sdn Bhd (KLKPH) had entered into two agreements to acquire 90% of PT GM for RM3.60 million.
KLKPH would acquire a 52.4% equity stake in PT GPM from Handojo Leman Byono and another 37.6% from Joniansyah respectively.
KLK said PT GPM holds a certificate of licensed location for 7,400 ha of land in Kecamatan Kelay, Kabupaten Berau, east Kalimantan which it intends to develop into oil palm plantations in due course.
“The purchase consideration will be financed by KLK’s internally generated funds,” it said. “The proposed acquisition is in line with KLK’s strategy to further increase KLK Group’s oil palm plantation area in Indonesia.”
