KUALA LUMPUR: Bright Packaging Industry Bhd has entered into a joint venture agreement (JVA) with a plantation firm in Sarawak.

       The project involved the development of 1,921ha in Sarikei with a total plantable area for the purpose of oil palm cultivation estimated at 1,152ha.

       “As at the date of the JVA, the planted area is 579ha out of the 1,152.6ha of estimated total plantable area,” Bright Packaging said in a filing with Bursa Malaysia yesterday.

       Bright Packaging said it has agreed to form a joint venture with Datai Plantations Sdn Bhd for the project.

       “The board believes that the joint venture will potentially contribute positively to the company’s future earnings,” it said.