Kuala Lumpur Kepong, a palm oil firm, agreed to acquire an additional 33% stake in Boustead Plantations, an oil palm estates operator, for $248m. “This strategic collaboration will not only strengthen the existing co-operation between KLK and BHB, but it provides a major boost to the long-term growth strategy of KLK Group’s plantation business. We are humbled to be entrusted as a partner to co-operate and deliver improvements to BPlant’s estates, in synergy with our own estates. We are optimistic that this corporate exercise will bring positive benefit for Malaysia’s palm oil industry as a whole," KLK Seri Lee Oi Hian CEO.