SD Guthrie to Form Joint Venture for Industrial Development

MT Newswires Live10-30

SD Guthrie (KLSE:SDG) has agreed to form a strategic joint venture with Bumi Assets and YTL Power International to develop around 1,623 acres of freehold land in Bukit Kerayong in Malaysia, according to a Thursday filing to the Malaysian bourse.

The palm oil company's shares were up nearly 1% in Friday's trade.

Under the pact, SD Guthrie will dispose of the freehold plantation land for around 33.6 million ringgit, equivalent to 13.20 ringgit per square foot, to be developed into an industrial development.

The land will be acquired by Bukit Kerayong Industrial Developments, a newly established joint venture, in which SD Guthrie will own a 30% stake, while YTL Power and Bumi Assets will hold the remaining 35%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment