Wilmar wins bids for six land sites in China’s Liaoning province

Wilmar International said on Wednesday it has won the bidding for six land sites in China’s Liaoning province for a total of US$204.4 million in partnership with two Hong Kong firms.

The bids were won by a consortium formed by SGX-listed Wilmar with Kerry Properties and Shangri-la Asia.

All three firms are linked to Malaysian billionaire Robert Kuok.

Wilmar is the the world’s largest-listed palm oil firm.

In a statement filed with SGX, Wilmar said the six sites are in the Laobian District of Yingkou City, Liaoning Province,

Funding for the venture will be from internal sources as well as bank borrowings and the investment is not expected to have a material impact on Wilmar’s financial position.

Source : Channel NewsAsia – 5 Jan 2011

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