Priceworth Berhad Acquisition Game-Changer
Richard Koo, Executive Director, Priceworth Berhad
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The recent acquisition by Priceworth Berhad of an 81-year concession for timber logging & replanting rights in FMU 5, a forestry reserve in Trus Madi, Sabah is expected to lead to better earnings recovery and provide an ample supply of raw materiel for the company
As the group counters falling demand from China, it also faces stresses in its balance sheet where current liabilities exceed current assets by RM71m as at FY16. According to Richard Koo, Executive Director of Priceworth Bhd the acquisition will be a funded by a rights issue which will also help deleverage the company.
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