CAB CAKARAN TERMINATES LETTER OF INTENT
PETALING JAYA: CAB Cakaran Corp Bhd has terminated its letter of intent to purchase Farm’s Best Bhd’s assets for RM42 million. The planned asset sale involves some 301.43ha of broiler farms and 200.22ha of breeder farms as well as other poultry facilities and equipment. Farm’s Best is Malacca-based poultry farmer and property developer. In a filing with the stock exchange, Farm’s Best said the termination was due to the sale of the assets to its 51%-owned subsidiary Farm’s Best Food Industries Sdn Bhd and 99%owned Sinmah Multifeed Sdn Bhd, instead of CAB Cakaran.