Friday, 11 April 2008

TDM to acquire oil palm land in Kalimantan

The StarOnline, Malaysia, 11th May.

TDM to acquire oil palm land in Kalimantan

KUALA LUMPUR: TDM Bhd has signed a heads of agreement (HOA) with its subsidiary PT Rafi Kamajaya Abadi and Bapak H. Rahman to acquire another 30,000ha in West Kalimantan for oil palm plantation development.

In an announcement to Bursa Malaysia, TDM said PT Rafi was incorporated as the special-purpose vehicle for the purpose of acquiring and developing land into oil palm plantation and to operate oil palm business in Indonesia.

“Under the HOA, PT Rafi will further acquire about 30,000ha in Kecamatan Nanga Pinoh and Kecamatan Belimbing, West Kalimantan and to develop the land into oil palm plantation,” it said. – Bernama