During the financial year ended 31 December 1995, the Company
completed the acquisition of the entire issued and paid-up share capital of Palm Springs Development Sdn. Bhd. ("PSDSB"),
a property development company which has a landbank of 423 acres near Port Dickson and the disposal of its plantation
land. This resulted in a significant diversification of Tanco's core business activities from plantation to property development.
In January 1997, Tanco completed the acquisition of the entire issued and paid-up share capital of Tanco Properties
Sdn. Bhd. (the developer of Bandar Country Homes ("BCH") Stage I covering an area of 268 acres in Rawang) and Tanco
Development Sdn. Bhd. (the developer of BCH Stage II sited on a 432 acres of freehold land in Rawang). These acquisitions
have widened the scope of the Group's property development activities and increased its land bank to over 1,000 acres
of prime development land.
In February 1998, Tanco completed the acquisition of the entire issued and paid-up capital of Tanco Resorts Berhad. The
acquisition has enabled the Group to move strongly into the vacation ownership business and business related to tourism,
leisure and entertainment.