(Apr 9): Any diligent and cost-conscious planter knows only too well that a “good buy” is hard to come by these days.
Two years after concluding the sale of a 70% stake in Loders Croklaan Group BV to Bunge, IOI Corp has yet to make a substantial acquisition with the proceeds that were earmarked for future investments. In fact, IOI Corp’s board had sought an 18-month extension for the usage of the RM938.2 million ($308.27 million) left from the RM3.8 billion sale price.
“[We] cannot find land,” group managing director and chief executive Lee Yeow Chor tells The Edge in a recent interview.
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