Ta Ann group managing director and CEO Datuk Wong Kuo Hea(pic) told StarBiz that the agreed price for the Agrogreen acquisition was a fair reflection of the market value of its assets. He said the group took into account various factors including the size of its land bank, planted area, age of the palm trees, quality of the estate and estate management practices.
PETALING JAYA: Ta Ann Holdings Bhd
which came under scrutiny for its proposed purchase of Agrogreen Ventures Sdn Bhd, has defended the deal saying that the acquisition price was “fair” compared with other recently-transacted oil palm estates in Sarawak.
Sibu-based timber and oil palm player Ta Ann is paying RM211.14mil for a 100% stake in Agrogreen, which has 5,280ha of brownfield plantation land in Stungkor, Sarawak.
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