<div>This article first appeared in <em>The Edge Financial Daily</em>, on April 11, 2017.<br />
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<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Perak Corp Bhd, via its subsidiary Lumut Maritime Terminal Sdn Bhd (LMT), plans to buy four leasehold plots of land in Manjung from Perbadanan Kemajuan Negeri Perak for RM57 million.</p></div>

<div class=newsTextDataWrapInner><p>LMT intends to hold the land, measuring 115.31 acres (46.66ha) in total, with the view to develop and construct another port or terminal there, Perak Corp said in a filing with Bursa Malaysia.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The subsidiary currently owns and operates the Lumut Maritime Terminal, while also operates and manages the Lekir Bulk Terminal under an agreement with Lekir Bulk Terminal Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>Perak Corp said the proposed acquisition will be funded by LMT through internally generated funds and borrowings.</p></div>

<div class=newsTextDataWrapInner><p>“LMT is currently seeking financing from financial institutions for up to 80% of the total purchase consideration,” it added.</p></div>

<div class=newsTextDataWrapInner><p>The land purchase is expected to be completed by the second half of 2017.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Perak Corp were unchanged at RM1.99 in thin trading yesterday, with 18,100 shares traded. It has a market capitalisation of RM199 million.</p></div>


This article first appeared in The Edge Financial Daily, on April 11, 2017.

 

KUALA LUMPUR: Perak Corp Bhd, via its subsidiary Lumut Maritime Terminal Sdn Bhd (LMT), plans to buy four leasehold plots of land in Manjung from Perbadanan Kemajuan Negeri Per...

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