13/04/2012 (The Star) - Golden Land Bhd has proposed to buy an Indonesian company for US$5.4mil (RM16.6mil) and this could expand the group's oil palm plantation area overseas by another 10,000ha.

The company told Bursa Malaysia that on April 11, its subsidiary Shinny Yield Holdings Ltd had entered into a conditional agreement to buy a 95% stake in PT Tasnida Agro Lestari from its Indonesian owners Jeffrey Lachmandas Mahtani and Widodo Nurly Sumady.

TAL has a plantation business permit, with a land area of 10,810 hectares at Kabaputen Bario Kuala, South Kalimantan.

The proposed deal is expected to be completed within 12 months, if all the conditions precedent of the conditional agreement are fulfilled.