<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 16): BLD Plantation Bhd has acquired two properties in Bintulu, Sarawak, for RM24 million for its business expansion.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Tuesday, the Sarawak-based plantation group said that its wholly-owned unit, Kinrara Palm Oil Refinery Sdn Bhd, had entered into separate sale and purchase agreements (SPAs) with Syarikat Sebangun Sdn Bhd for the purchase of a 1.4533-hectare property for RM7 million and a 3.459ha property for RM17 million.</p></div>

<div class=newsTextDataWrapInner><p>BLD Plantation said that the purchase considerations were determined through negotiations on a "willing-buyer willing-seller" basis, taking into account the market value of the properties.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group added that the proposed acquisitions align with its future business expansion plans, considering the strategic location and easy accessibility of the land for potential development.</p></div>

<div class=newsTextDataWrapInner><p>"The proposed acquisition is also anticipated to enhance the future financial performance of the group," it said, adding that the funding would come from a combination of internally generated funds and bank borrowings. It expects the land acquisition to be completed within three months from the date of the SPAs.</p></div>

<div class=newsTextDataWrapInner><p>Shares in BLD Plantation were last traded at RM11.20, giving the group a market capitalisation of RM1.05 billion.<br />
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BLD Plantation Bhd has acquired two properties in Bintulu, Sarawak, for RM24 million for its business expansion.

In a bourse filing on Tuesday, the Sarawak-based plantation group said that its wholly-owned unit, Kinrara Palm Oil Refinery Sdn Bhd, had entered into separate sale and purchase agreements (SPAs) with Syarikat Sebangun Sdn Bhd for the purchase of a 1.4533-hectare property for RM7 million and a 3.459ha property for RM17 million.

BLD Plantation acquires two Bintulu properties for business expansion

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