KUALA LUMPUR (April 10): Perak Corp Bhd, via its subsidiary Lumut Maritime Terminal Sdn Bhd (LMT), plans to buy four leasehold plots of land in Manjung from Perbadanan Kemajuan Negeri Perak (PKNP) for RM57 million. Perak Corp said the proposed acquisition will be funded by LMT through internally generated funds and borrowings. “LMT is currently seeking financing from financial institutions for up to 80% of the total purchase consideration,” it added. The land purchase is expected to be completed by the second half of 2017. Shares of Perak Corp were unchanged at RM1.99 in thin trading today, with 18,100 shares traded.

Source: The Edge Markets April 10, 2017 12:00 UTC