CAM Resources acquire land in Perak for RM11m

KUALA LUMPUR: CAM Resources Bhd is acquiring three parcels of land with factories atop on them in Perak for RM11 million.

In a filing to Bursa Malaysia on Monday, July 19, the acquisition was made with three parties, namely Kota Tanah Realty Sdn Bhd, Sabutek (M) Sdn Bhd and Harapan Enterprise Sdn Bhd through its unit Central Aluminum Manufactory Sdn Bhd for these parcels measuring 33.8 acres in total.

“The proposed acquisition is intended to enable Central Aluminum Manufactory to expand its business activities and utilise the plant and equipment thereon for processing oil palm fiber. Moreover, the properties are located at strategic locations which are surrounded by oil palm mills,” it added.

It said that the acquisition, which will be satisfied entirely in cash, will allow and secure the space required for future expansion and business activities of CAM Group.