Boustead Plantations Berhad (BPB) moved further towards the expansion of its land bank today as it entered into a sales and purchase agreement for the acquisition of 42 parcels of land amounting to a total of approximately 11,600 hectares, located within the district of Labuk and Sugut, Sabah. 

The purchase consideration for the land is RM750 million, derived at on a willing-buyer willing-seller basis after taking into consideration the market value of the land as appraised by independent valuers. The purchase consideration represents a discount of RM10 million or 1.3% from the market value of the plantation assets of RM760 million. The land will be acquired by BPB’s wholly-owned subsidiary, Boustead Rimba Nilai Sdn Bhd.

ACE Market-listed company, PUC Bhd (formerly known as PUC Founder (MSC) Berhad) through its wholly-owned subsidiary, Founder Qube Sdn Bhd (“FQ”), today reiterated its commitment to grow its advertising and media business in Southeast Asia by signing a Memorandum of Understanding (“MoU”) with Advwhere Limited, a leading social media analytics and influencer marketing company, with operations primarily in Hong Kong and Taiwan. 

The MoU will see FQ becoming an exclusive business partner that will market Advwhere Limited’s proprietary digital media influencer platform (“Cloudbreakr Technology”) in digital advertising to expand its business reach to more core markets, in particular, Malaysia, Indonesia and Singapore. 

TIMBER and sustainable forest management group Priceworth International Bhd announced that the third Forest Management Plan (FMP) for Forest Management Unit No. 5 (FMU5) has been approved, paving the way for the next step in its proposed acquisition.

"With the Sabah Forest Department’s approval of the FMP for the period 1 Sept 2017 to 31 August 2027, a condition precedent of the the proposed FMU 5 acquisition has been deemed fulfilled,” said Richard Koo, Priceworth executive director today.