CCFH

CCFH: Grp announced that it has signed a memorandum of understanding (MOU) with Papua New Guinea-incorporated Mata Brait to jointly develop and manage the logging operations and marketing of logs, reforestation and rubber plantation development for an estimated 27,000 ha of land in Papua New Guinea. The plot of land, located in Binige village in the central province of Papua New Guinea, has a lease period of 99 years. Under the proposed deal, CCFH will acquire an equity stake in Mata Brait, a forestry business. While the exact percentage of equity stake will be worked out as part of the due diligence process, sources close to the deal said CCFH will likely take a majority and controlling stake in Mata Brait.