KUALA LUMPUR, June 8 — FGV Holdings Bhd’s wholly-owned unit FGV Integrated Farming Holdings Sdn Bhd today signed an agreement to buy the entire 100 per cent equity interest in MSM Perlis Sdn Bhd, which owns about 4,500 hectares in Chuping, Perlis, for RM175 million.
“The disposal is following the discontinuation of non-strategic operations in MSM Perlis as part of MSM’s rationalisation strategies to streamline profitability and develop operational capability. “It is also to enhance our operational front particularly on utilisation factor and yield improvement in MSM Sugar Refinery Sdn Bhd .
The development would consist of high-value integrated cash crop plantation activities such as MD2 pineapples and harumanis mangoes, as well as dairy farming, it said. To date, the group has hired more than 50 employees and field workers for the project, and in addition, a total area of 60 hectares have been allocated for the agropreneurs programme under the contract farming scheme for the MD2 pineapple project.“FGVIF has already commenced the groundwork of 1,200 hectares of MD2 pineapple plantation where we target to complete the development by the year 2025,” added Azman.
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