<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 4): Sarawak Oil Palms Bhd (SOP) is acquiring four parcels of land from Shin Yang Construction Sdn Bhd for RM14 million to expand its landbank.</p></div>

<div class=newsTextDataWrapInner><p>SOP said in a bourse filing that its subsidiary Wawasan Asiamaju Sdn Bhd had entered into a sale and purchase agreement with Shin Yang to acquire the land in Kuching North Land District, measuring approximately 9.58 hectares.</p></div>

<div class=newsTextDataWrapInner><p>The proposed acquisition will be funded via internally generated funds and/or by financial institutions, it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group is of the view that the proposed acquisition will provide an opportunity for SOP to expand its land bank and investment in strategic property development to enhance its profile and earnings prospects.</p></div>

<div class=newsTextDataWrapInner><p>The proposed acquisition is expected to be completed on or before the end of the third quarter this year.</p></div>

<div class=newsTextDataWrapInner><p>SOP closed three sen or 0.77% lower at RM3.87 today, valuing the group at RM2.21 billion.</p></div>


Sarawak Oil Palms Bhd (SOP) is acquiring four parcels of land from Shin Yang Construction Sdn Bhd for RM14 million to expand its landbank.

SOP said in a bourse filing that its subsidiary Wawasan Asiamaju Sdn Bhd had entered into a sale and purchase agreement with Shin Yang to acquire the land in Kuching North Land District, measuring approximately 9.58 hectares.

Sarawak Oil Palms buys four land parcels for RM14m

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<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>


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<p>Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.</p>


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<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


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<p>EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.</p>


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<p>Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.</p>


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<p>RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.</p>


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<p>Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.</p>


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<p>The Federal Communications Commission (FCC) said on Thursday it is ordering the US units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the US.</p>
