Heng Huat Group Bhd said that it wishes to furnish additional details in respect of its 100% acquisition of 100% equity interest in Dome Sdn Bhd together with Agricultural land located in Tawau.
In a Bursa filing, it said the proposed use of the Agricultural Land, pending the commencement of development of the Agricultural Land and the acquisition, is for investment purposes only.
It said that the type of estate or plantation that the Agricultural Land is currently used for, the maturity of the trees and the production for the past 3 years.
It said that the proposed acquisition is to be made through internally generated funds instead of a mixture of internally generated funds and bank borrowings as announced on 27 June 2022.
