Price­worth to buy Sabah tim­ber firm, list unit in Sin­ga­pore

The Sun (Malaysia) - - SPEAK UP -

PETALING JAYA: Price­worth In­ter­na­tional Bhd is ac­quir­ing the en­tire stake in Rumpun Ca­pa­ian Sdn Bhd for RM260 mil­lion to put the group in a sig­nif­i­cantly more prof­itable fi­nan­cial po­si­tion.

Price­worth is also look­ing to float wholly owned sub­sidiary GSR Pte Ltd on the Sin­ga­pore ex­change as part of the fund­ing ex­er­cise for the ac­qui­si­tion.

In a fil­ing with Bursa Malaysia, Price­worth said the ac­qui­si­tion will en­able it to ac­cess a sig­nif­i­cant 100-year con­ces­sion of 101,161ha of for­est man­age­ment unit in Trus Madi, Sabah, known as FMU5 with tim­ber-har­vest­ing and re­plant­ing rights.

Con­cur­rently, Price­worth’s wholly owned sub­sidiary Si­nora Sdn Bhd has also en­tered into a log ex­trac­tion and tim­ber sale agree­ment with Rumpun’s 99.99%-owned sub­sidiary Anika

Tan (cen­tre) with Vmart Mil­lion Club achiev­ers at the awards din­ner in Langkawi on Tues­day.

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