Kwantas plans RI plantation

Sat, 12 Feb 2000 | Source: DJ

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.

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