Here’s another land deal in Sarawak. Ta Ann Holdings Bhd, through its unit, Multi Maximum Sdn Bhd, is buying an obscure company Europalm Sdn Bhd.
Ta Ann is paying RM20.5 million for the entire two million shares of RM1 each in Europalm, according to the Business Times.
Europalm reportedly owns 1,500ha of plantation land at Jemoreng Land, Sarawak and had been awarded another 1,113ha at Seredeng Land. That would make the average purchase price RM3,200 per acre.
An analyst was reported as saying it was a very good price as “Sarawak plantation land is often considered to be more expensive at RM18,000 to RM20,000 per acre depending on the proximity, infrastructure and facilities”.
Question: How much did Europalm pay for the land?
