Genting Plantations Bhd was trading at RM5.24 in late afternoon trade, up 4 sen or 0.77%, as investors reacted to the latest update on its RM210 million joint venture project in Kulai, Johor.
The counter moved between RM5.18 and RM5.24 during the session, opening at RM5.18 and holding near its intraday high of RM5.24 at the time of writing. Volume stood at 421 lots, with buying interest seen around RM5.21 while selling pressure remained clustered at RM5.24.
The plantation group’s latest catalyst came after it confirmed that its proposed joint venture to develop about 70 acres of agricultural land in Kulai has become unconditional as of 15 June 2026, following the completion of key agreements.
The JV involves ACGT Vegetable Agventures Sdn Bhd and Shouguang Vegetable Science and Technology Sdn Bhd (SVST), alongside Shouguang Vegetable GeneTech Sdn Bhd (SVG), after the execution of a technology, know-how and material transfer agreement.
The final agreed value of the technology and expertise contribution was set at RM210 million, reflecting Genting Plantations’ push into higher-value agriculture through advanced vegetable science collaboration.
The group said the valuation reflects the specialised nature of the technology involved and its potential to unlock new business opportunities and operational synergies in the Kulai development.
The JV is expected to be completed within 60 calendar days from the unconditional date, or at a mutually agreed timeline between parties.
