Malaysia’s CAB Cakaran Corporation Bhd and three other parties are buying the entire stake in Farm’s Best Bhd’s poultry processing unit, Farm’s Best Food Industries Sdn Bhd, for USD 2.30 million. Farm’s Best said it had terminated the earlier USD 59.03 million deal to sell the processing plant, Sinmah Breeders Sdn Bhd and Sinmah Livestocks Sdn Bhd to CAB Cakaran. CAB Cakaran together with its 51%-owned subsidiary Tong Huat Poultry Processing Factory Pte Ltd, Plant Wealth Holdings Ltd and Brighton Property Pte Ltd entered into a conditional share sale agreement with Farm’s Best last Friday. Together with Tong Huat, the processing plant will effectively become a 53.04%-owned subsidiary of CAB Cakaran.
