29/07/2011 (The Star) -  IOI Corp Bhd, through an indirect wholly-owned subsidiary, Sri Mayvin Plantation Sdn Bhd, has proposed to acquire 11,977.91ha of oil palm plantation land in Sabah from Pertama Land & Development Sdn Bhd for RM830mil.

Pertama Land is a wholly-owned subsidiary of Duta Plantations Sdn Bhd which in turn is a wholly-owned subsidiary of Dutaland Bhd. The land consists of five oil palm estates in the districts of Labuk and Sugut.

IOI, in a filing with Bursa Malaysia yesterday, said the proposed acquisition, to be financed via internal funding or borrowing, would include all the assets such as buildings, fixtures & fittings and motor vehicles. - Bernama