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PWI Unit Acquires Timber Extraction, Replanting Rights In Sabah For RM260 Million

by October 20, 2016 General

KUALA LUMPUR, Oct 19 (Bernama) — Timber and sustainable forest management group Priceworth International Bhd’s (PWI) Singapore unit, GSR Pte Ltd (GSR), has acquired timber extraction and replanting rights on a forest reserve area comprising 101,161 hectares in Trus Madi, Sabah for RM260 million.

GSR had signed an agreement to acquire the entire paid-up share capital of Rumpun Capaian Sdn Bhd from Transkripsi Pintar Sdn Bhd for RM260 million, it said in a filing to Bursa Malaysia.

Rumpun owns 99.9 per cent of Anika Desiran Sdn Bhd (ADSB), which was awarded a 100-year licence in 1997 over an area known as Forest Management Unit 5 (FMU5) located in Trus Madi…..