It is also buying two oil palm estates and a mill, all in Yong Peng in Johor, from I&P for RM106.7mil cash. The past few weeks have been a busy period for Sime Darby on the corporate front. About 98% of both estates, which are near Sime Darby Plantation estates in central Johor, are planted with oil palm. Sime Darby Property, in turn, will unlock the value of its Semenyih land to fund strategic property development projects such as the Malaysia Vision Valley and City of Elmina. Sime Darby said the land, which is located in the Hulu Langat district, was not a key development focus area for its property arm.

Source: The Star October 06, 2016 21:33 UTC