KUALA LUMPUR: Iris Corporation Bhd
, which is placing out 394.09 million new shares to Federal Land Development Authority (FELDA) for RM110.30mil, plans to use RM40mil for its farm projects.
Iris said on Wednesday the RM40mil would be working capital of the sustainable development division's on-going projects, which was to build an integrated, sustainable farm system under contracts with the state authorities and FELDA. The projects are the Rimbunan Kaseh and Sentuhan Kasih.
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