Kwantas plans RI plantation

Kwantas plans RI plantation

KUALA LUMPUR (Dow Jones): Kwantas Corp. Bhd., a Malaysian oil
palm company, said Friday it has signed an agreement with
Indonesian company PT Agronesia Makmur Sentosa to jointly convert
51,200 hectares of timber land in Kalimantan on the island of
Borneo into oil palm plantations.

The company didn't divulge the cost of developing the
plantations.

Malaysian newspaper publisher Utusan Melayu Bhd. Friday said
it has signed an agreement to sell a parcel of land and a
commercial building for 59 million ringgit to Felcra Bhd., a
government agricultural agency.