KUALA LUMPUR (July 4): Poultry farming company LTKM Bhd is buying a one-acre freehold land here for RM12.56 million. The land is adjoined to a slightly bigger plot, which the company purchased in January.

LTKM said when combined, the total land area of 2.94 acres (11,888 sq m) will enhance the potential of the two plots as a whole.

"We are continuously looking for investment opportunities to acquire strategic land bank and to unlock the value of the properties for further growth opportunities over the long term," it said in a filing with Bursa Malaysia today.

LTKM said the acquisition will be undertaken by the group's wholly-owned subsidiary, LTK (Melaka) Sdn Bhd, from 11 individuals.  

It said 60% of the purchase consideration will be funded by bank borrowings, while the remaining 40% will be financed from internally-generated funds.

LTKM’s share price rose one sen or 0.72% today to RM1.40, for a market value of RM182.15 million. — theedgemarkets.com

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