Hextar Global Unit To Sell Raub Agricultural Land For RM13.75 Mln

KUALA LUMPUR, Sept 3 (Bernama) -- Hextar Global Bhd’s (HGB) indirect subsidiary, PHG Ever Fresh Plantation Sdn Bhd, through its 51 per cent-owned unit Hextar Fruits Sdn Bhd (HFSB), has signed three sale and purchase agreements with Chateau MSK Sdn Bhd to dispose of three freehold agricultural land parcels totalling 10.02 hectares in Raub, Pahang for RM13.75 million.

In a Bursa Malaysia filing today, it said the yield from the durian plantation has been below PHG’s expectations and is not commercially viable in the long term.

"The proposed disposal provides an opportunity for PHG to realise a favourable return, as the purchaser has offered an attractive price for the land.

"The HGB Group has decided to focus on operating the durian collection centres, where various sellers can supply durians, as it focuses on sorting and processing durians into pulp, paste and frozen products for export as its business stategy," it said.

HGB said the proposed disposal is expected to be completed within six months of the date of the agreement.

-- BERNAMA