In line with TDM’s domestic plantation expansion plan, the company had applied to the state for land in Hutan Simpan Sungai Nipah, Kemaman and Hutan Simpan Rasau, Dungun, measuring 4,515ha.
The state approved TDM’s application for the plots as per the terms and conditions set out in its letters dated Dec 26 and 28, 2017 respectively.
“The lands are alienated to TDM by way of grant from the state to support its operations and expenditures for the financial year 2017,” TDM said in a stock exchange filing.
TDM’s landbank in Terengganu stands at 31,848ha and the acceptance of the plots of land, together with the proposed acquisition of controlling stake in Ladang Rakyat Terengganu Sdn Bhd, which was announced on Feb 27, 2017, will increase TDM’s total land bank in Terengganu to 47,830ha.
TDM closed unchanged at 46 sen with 353,700 shares traded.
Source: The Sun Daily