The Board of Directors of Lotus wishes to announce that LKB Plantation Sdn. Bhd., a wholly-owned subsidiary of the Company, has on 23 September 2024 entered into a joint venture agreement with Cengal Abadi Sdn. Bhd., Rimbun Jelutong Sdn. Bhd., Sentosa Tropika Sdn. Bhd., Trillion Greenland Sdn. Bhd. and Tropika Intan Sdn. Bhd., for the harvesting and processing of bamboo chips/pellets.
Please refer to the attachment for the details of this announcement.
Plantation business Lotus and its subsidiaries (“Group”) had since early 2022 diversified into plantation businesses to include the planting, harvesting and processing of fast-growing plants, including but not limited to Acacia species, Gmelina species, Albizia species, Eucalyptus species and bamboo, into wood chips and bamboo chips. As at the date of this announcement, the Group had acquired the rights-of-use/lease rights over 3,700 hectars (“ha”) of forest reserve lands/state lands situated in Negeri Kelantan and Negeri Perak (“Lotus’ Lands”). The Proposed Joint Venture serves to expedite the subsisting planation business of the Group, particularly on harvesting, processing and sale, through leveraging on the readily harvestable lands of the JV Partners.
The primary business of Lotus KFM remains the production of wheat flour and related products. Flour milling is a staple industry as flour is a basic ingredient in many food products, ranging from bread and noodles to pastries
According to IMARC Group, the global wheat flour market size is expected to reach US$ 346.1 billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032
Plantation business Lotus and its subsidiaries (“Group”) had since early 2022 diversified into plantation businesses to include the planting, harvesting and processing of fast-growing plants, including but not limited to Acacia species, Gmelina species, Albizia species, Eucalyptus species and bamboo, into wood chips and bamboo chips. As at the date of this announcement, the Group had acquired the rights-of-use/lease rights over 3,700 hectars (“ha”) of forest reserve lands/state lands situated in Negeri Kelantan and Negeri Perak (“Lotus’ Lands”). The Proposed Joint Venture serves to expedite the subsisting planation business of the Group, particularly on harvesting, processing and sale, through leveraging on the readily harvestable lands of the JV Partners.
The Board of Directors of Lotus wishes to announce that LKB Plantation Sdn. Bhd., a wholly-owned subsidiary of the Company, has on 23 September 2024 entered into a joint venture agreement with Cengal Abadi Sdn. Bhd., Rimbun Jelutong Sdn. Bhd., Sentosa Tropika Sdn. Bhd., Trillion Greenland Sdn. Bhd. and Tropika Intan Sdn. Bhd., for the harvesting and processing of bamboo chips/pellets.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
stockpip
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Posted by stockpip > 2023-07-24 10:45 | Report Abuse
Apparently, there is rare earth found in one of the company's land asset. Don't know how far this is true?