Investor Relations

Reference is made to the Company's announcement dated 19 May 2015 in relation to the proposed disposal of freehold land measuring a total of approximately 88.17 hectares for a total cash consideration of approximately RM48.99 million ("Proposed Disposal 1"). 

The Board of Directors of BPB wishes to further announce that on 15 June 2015 :

1. CIMB Islamic Trustee Berhad (acting solely in the capacity as a trustee for BPB), had entered into a sale and purchase agreement with Sanggul Suria Sdn Bhd, for the proposed disposal of part of 3 parcels of freehold land held under GRN 401071 Lot 86499, GRN 236290 Lot 2939 and GRN 368030 Lot 44930 in Mukim Kulai, District of Kulaijaya, State of Johor measuring approximately 57.03 hectares ("Ha") for a cash consideration of RM12.28 million; and

2. Boustead Sungai Manar Sdn Bhd, a wholly-owned subsidiary of BPB, had entered into sale and purchase agreement with Hanson Quarry Products (Segamat) Sdn Bhd, for the proposed disposal of 5 parcels of freehold land held under GRN 405928 Lot 44926, GRN 405929 Lot 44927, GRN 405930 Lot 44928, GRN 405931 Lot 44929 and GRN 400949 Lot 44931 and part of parcel of freehold land held under GRN 353782 Lot 44925 in Mukim Kulai, District of Kulaijaya, State of Johor measuring approximately 102.12 Ha for a cash consideration of RM81.94 million,

(collectively referred to as “Proposed Disposal 2”).

BPB has aggregated the Proposed Disposal 1 and Proposed Disposal 2 (collectively referred to as the “Proposed Disposals”) and treated the Proposed Disposals as one transaction in accordance with the principle of aggregation pursuant to Paragraph 10.12(2)(c) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

Details of the Proposed Disposals are set out in the attachment herein.

This announcement is dated 16 June 2015.