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RM 21 million deal

PLS Plantations acquires Dulai Fruits

In a move to diversify PLS Plantations, Bhd through its unit Brighthill Synergy Sdn Bhd is venturing into the durian business by acquiring a 70 percent share in Dulai Fruits Enterprise Sdn Bhd (Dulai Fruits) for RM 21 million (€4.39 mln). 

In a statement today, PLS said the acquisition would be made through the issuance of 24 million ordinary shares in PLS at RM 0.75 (€ 0.16) per share totalling RM 18 million (€3.76 mln) and RM 3 million (€627,000) in cash, through the subscription of 600,000 new ordinary shares in Dulai Fruits.

PLS Executive Director Lee Hun Kheng said taking into account the strong growth prospects for the durian business in Malaysia and given the soaring potential in China, the company was optimistic that the strategic acquisition would bring forth positive earnings to the group.

Dulai Fruits, a pioneer in exporting durians with 30 years of durian plantation experience, has successfully penetrated China, Hong Kong, Australia and the United States, and is a licenced exporter and importer of durians for Malaysia and China.


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