Investor Relations

The Board of Directors of BPB wishes to announce that Boustead Rimba Nilai Sdn Bhd, a wholly-owned subsidiary of the Company, had issued a letter of intent dated 18 August 2017  to Pertama Land & Development Sdn Bhd ("Vendor") ("LOI") for the proposed acquisition of 42 parcels of plantation land located in the locality of Labuk Road, Sg Ruku-ruku and Sg Lokan, all within the district of Labuk & Sugut, Sabah measuring about 11,579.31 hectares inclusive of all movable fixed assets, machineries and vehicles located at the property ('Plantation Asset") for an indicative cash consideration of RM750 million. The LOI was accepted by the Vendor on 22 August 2017.

Details of the above are set out in the attachment herein.

This announcement is dated 22 August 2017.