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PETALING JAYA (April 16): Matang Bhd has completed the acquisition of 10 adjacent parcels of agricultural land in Mukim of Tangkak, District of Tangkak, Johor, for a total cash consideration of approximately RM18.20 million.
The group confirmed completion via a Bursa Malaysia announcement yesterday (April 15), with all terms and conditions under the sale and purchase agreement fulfilled and the full purchase consideration settled yesterday.
The acquisition was executed through Matang Agriculture and Plantation (Segamat) Sdn Bhd (MAPS), a wholly-owned subsidiary of Matang, via two separate sale and purchase agreements with vendors Ophir Quarry Sdn Bhd and Kwong Ming Mean.
Based on the original announcement dated Feb 6, 2026, the 10 parcels are currently cultivated with durian trees — including Musang King, Black Thorn, IOI and Kampung varieties, with trees ranging from one to nine years old.
Upon completion, Matang's total plantation landbank increased from 1,150.38 hectares to 1,170.02 hectares, an addition of 19.64 hectares.
The acquisition price of RM18.20 million represents a premium of RM196,042.48, or 1.09%, over the independent market valuation of RM18.0 million.
The purchase consideration is funded via internally generated funds and remaining proceeds from the group's 2021 private placement exercise.
ACE Market-listed Matang fell 0.5 sen, or 6.25%, to close at RM0.075 yesterday (April 15), giving the group a market capitalisation of RM179.19 million.
Editor's note: Background details on the land parcels, consideration and funding are sourced from Matang Bhd's original Bursa Malaysia announcement dated Feb 6, 2026. This article is for informational purposes only and does not constitute financial or investment advice.
