NV Multi To Grow Rubber Trees?????
Wednesday, June 3, 2009
You know how in forums where you get them moderators warning when one talks out of topic? Ever witnessed that happening before?
This came to mind when I saw the following news clip on today's financial edge Greenyield, NV Multi to grow rubber trees together
- KUALA LUMPUR: Greenyield Bhd's subsidiary Gim Triple Seven Sdn Bhd and Nirvana Memorial Park Sdn Bhd have teamed up to form a joint venture in Melati Aman Sdn Bhd, a licensed logger in Kelantan.
In a statement yesterday, Greenyield said it had signed a sale and purchase of shares agreement with Liau Tam Sang, Liau Chen Bang and Samsudin bin Che Esa for the proposed acquisition of a 30% stake comprising 30,000 shares of RM1 each in Melati for RM330,000 cash.
Separately, Nirvana is acquiring the remaining 70% stake comprising 70,000 shares in Melati for RM770,000.
Kota Bharu-based Melati is licensed by the Kelantan government to use identified parcels of Kekal Relai forest reserve, covering an area of 400 hectares to extract timber and to re-forest and cultivate with rubber trees for 50 years from April 21, 2009.
Nirvana is a wholly owned subsidiary of NV Multi Corporation Bhd, which is listed on the Main Board of Bursa Malaysia Securities Bhd.
Greenyield provides total plantation solutions services and technical support services to the agricultural sector with the aim of enhancing the yield of the plantation sector on a sustainable basis. It has expertise in the reforestation and cultivation of rubber trees.
Greenyield said the proposed acquisition would provide it with the opportunity to tap into the expected growing global demand for natural rubber.
It will be responsible in developing and managing the project area, where a separate management agreement.
In addition, Greenyield said the acquisition would enable it to have the rights to a rubber plantation to conduct its research and development activities on the low intensity tapping system, other yield enhancement technologies, fertilisers, growth promoters and chemicals for young plants.
Meanwhile, in a separate statement, NV Multi said the group intended to develop rubber plantations and offer an opportunity to its product purchasers to invest in such plantations in the form other than equity so that eventually such investment would replace the current marketing strategy of investment-link promotions.
Huh? NV Multi into planting rubber??????????
oO
Good grief!
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