Thursday, 10 March 2011

Golden Land in Cambodia for landbank expansion

via CAAI

Thursday March 10, 2011

PETALING JAYA: Oil palm plantation firm Golden Land Bhd said its units had entered into agency agreements in Cambodia for Golden Land to expand its land-banks for palm oil cultivation by nearly 11,000ha.

The company told Bursa Malaysia in two separate announcements yesterday that two of its wholly-owned units, Pacific Bloom Ltd and Gainfield International Ltd, had entered into agency agreements with Cambodian-based agents Virtus Communications Pte Ltd and Mohan Tirugmanasam Bandam.

Pacific Bloom entered into an agency agreement on March 8 for the Cambodian parties to apply on its behalf for economic concession rights over 10,922 ha of land located in Dang Peng Commune, Koh Kong Province, Cambodia from the Cambodian government for agricultural investment purposes.

A company named Perfect Element Plantation Pte Ltd will be incorporated as a wholly-owned unit of Pacific Bloom for the application of the economic concession rights of the leased property.

Meanwhile, Gainfield International entered into an agency agreement yesterday for the agents to apply on its behalf for economic concession rights over 11,827 ha located in Dang Peng Commune, Koh Kong Province, Cambodia from the Cambodian government for agricultural investment purposes.

A company named NWP Private Ltd will be incorporated as a Golden Land wholly-owned unit for the application of the economic concession rights of the leased property.

Golden Land hopes that the application of the concession rights will increase its land banks for palm oil cultivation.

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