KUALA LUMPUR: Golden Frontier Bhd — via its wholly-owned subsidiary Golden Frontier Paper Industry Sdn Bhd — has acquired four pieces of freehold plantation land in Daerah Seberang Perai Selatan, Penang totaling 45.06 acres for RM10.79 million, the group announced on Friday, Dec 3.

That land was purchased from individuals Oh Keh Lai, Benny Oh and Oh Keh Hock, and the group stated it will use the land for investment and possibly for future business purposes.

The prospects for the land, the group said, included its use for paper and paper related industries in the future or to reap capital gains from appreciating real estate values in the long term.

Golden Frontier operates in packaging, investment holding and provision of management consultancy services; money lending and insurance agency services; and property development and property letting. The group distributes its products in Malaysia and to Vietnam.
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