Investor Relations

Bursa Announcements

Bursa Announcements

Article Entitled: "RM1.15 Bil Boustead-KLK Deal Falls Through, Say Sources; Govt Seeks RM2 Bil To Save Ltat"
BackOct 03, 2023
Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-03102023-00001
Subject Article Entitled: "RM1.15 bil Boustead-KLK deal falls through, say sources; govt seeks RM2 bil to save LTAT"
Description BOUSTEAD PLANTATIONS BERHAD ("BPLANT" OR "COMPANY")

PROPOSED STRATEGIC COLLABORATION AMONG BOUSTEAD HOLDINGS BERHAD ("BHB"), LEMBAGA TABUNG ANGKATAN TENTERA ("LTAT") AND KUALA LUMPUR KEPONG BERHAD (KLK) IN RELATION TO BPLANT
Query Letter Contents

We refer to the attached article appearing in The Edge CEO Morning Brief dated 3 October 2023 in respect of the above subject matter.
In particular, we would like to draw your attention to the following:-

The proposed disposal of a 33% stake in Boustead Plantations Berhad (BPlant) by the Armed Forces Fund Board (LTAT) and Boustead Holdings Bhd to Kuala Lumpur Kepong Bhd (KLK) has fallen through.      


In accordance with Bursa Malaysia Securities Berhad's ("Bursa Securities") Corporate Disclosure Policy, kindly furnish Bursa Securities with an announcement for public release confirming or denying the above reported article, in particular the above sentence after due and diligent enquiry with all the directors, major sharesholders and all such other person reasonably familiar with the matters about which the disclosure is to made in this respect. In the event you deny the above reported sentence or any other part of the article, you are required to set forth facts sufficient to support the same.

Please furnish Bursa Securities with your reply via Bursa Link by today.

 

Yours faithfully,
Listing

Regulation


Cc : Market Surveillance Dept. , Securities Commission 

Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Company’s announcements dated 24 August 2023 in relation to the Proposed Strategic Collaboration.

 

Reference is made to Bursa Securities’ letter dated 3 October 2023 in relation to the article appearing in The Edge titled “RM1.15 bil Boustead-KLK deal falls through, say sources; govt seeks RM2 bil to ‘save’ LTAT”.

 

After due and diligent enquiry with all the directors, major shareholders and all such other person reasonably familiar with the matters about which the disclosure is to be made in this respect, the Board of BPlant wishes to announce that the controlling shareholders of the Company, BHB and LTAT, have informed the Company that the:

 

(i) The Proposed Strategic Collaboration is pending a final decision between the transacting parties.

(ii) The Cut-Off Date for fulfilling the Condition Precedent is on 6 October 2023.

 

Further updates will be announced in due course.

 

This announcement is dated 3 October 2023.

Announcement Info

Company Name BOUSTEAD PLANTATIONS BERHAD
Stock Name BPLANT
Date Announced 03 Oct 2023
Category General Announcement for PLC
Reference Number GA1-03102023-00042
Contact