04/01/2018 (The Star Online) - PETALING JAYA: TDM Bhd

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has accepted 4,515ha offered by the Terengganu state government for its domestic plantation expansion plan.

TDM is an oil palm plantation cultivator wholly owned by state investment arm Terengganu Inc Sdn Bhd.

“The land is alienated to TDM by way of a grant from the state to support its operations and expenditures for the financial year 2017 (FY17),” said TDM in a filing with Bursa Malaysia.

“The state has agreed to convert the land from forest reserve to government land and will replace the affected areas with other land as forest reserves.”

Among the terms and conditions, TDM will make a payment of RM250 per ha per annum to a trust fund for wildlife conservation and conflict management. The company said its existing land bank in Terengganu stands at 31,848ha.

Following the acceptance and the proposed acquisition of a controlling stake in Ladang Rakyat Terengganu Sdn Bhd, TDM’s total land bank in the state will rise to 47,830ha. “The effects of the said grant are still at a premature stage as of to date, and TDM is currently in the process of examining and assessing the impact of the said grant on its net assets, earnings and gearing for FY18 ending Dec 31.

Read more at https://www.thestar.com.my/business/business-news/2018/01/04/tdm-gets-land-for-expansion/#pulYBvgjv3dXl5OQ.99