METROK to acquire plantation land in Kalimantan

• Metro Kajang is in negotiations to acquire 20,000ha of plantation land in East Kalimantan.
• They have signed a silent term MoU with a local land owner last week. (pricing still being discusses),
• The acquisition could double the size of its current plantation land bank which measures about 16,000ha.
• Expect the plantation division to contribute about 20% to total revenue in FY12 onwards.