Investor Relations

On behalf of the Board of Directors of BPB, Affin Hwang Investment Bank Berhad wishes to announce that Boustead Rimba Nilai Sdn Bhd (“BRNSB”), a wholly-owned subsidiary of BPB, had on 30 October 2017 entered into a sale and purchase agreement (“SPA”) with the following parties for the acquisition of plantation assets as described below:

Vendor

Pertama Land & Development Sdn Bhd (“PLD”)

Registered Owners

(i) PLD, (ii) Majusa Sdn Bhd, (iii) Labuk Estate Sdn Bhd, (iv) Telupid Plantation Sdn Bhd, (v) Labukpalm Sdn Bhd, (vi) Ladang Anak Jati Sdn Bhd, (vii) Moyog Properties Sdn Bhd, (viii) Tawai Estate Sdn Bhd, (ix) Telupid Estate Sdn Bhd and (x) Labuk Plantation Sdn Bhd.

The SPA involves the proposed acquisition by BRNSB of 42 parcels of leasehold plantation lands located in the Districts of Labuk and Sugut, Sabah measuring a total of 11,579.31 hectares, inclusive of all buildings, agricultural equipment, machineries, vehicles and other amenities located at the properties for a total cash consideration of RM750 million, subject to the terms and conditions contained in the SPA (“Proposed Acquisition”).

Please refer to the attachment for further details on the Proposed Acquisition.

This announcement is dated 30 October 2017.