Investor Relations

The Board of Directors of BPB wishes to announce that Boustead Rimba Nilai Sdn Bhd (“BRNSB”), a wholly-owned subsidiary of the Company, had issued a letter of intent dated 8 May 2018 to Sit Seng & Sons Realty Sdn Bhd (“Vendor”) (“LOI”) for the proposed acquisition of plantation lands held by the Vendor and its subsidiaries measuring about 5,531.25 hectares inclusive of a 60-tonne per hour palm oil mill (“Plantation Assets”).   To facilitate the proposed acquisition, the exercise will also involve the acquisition of the entire equity interest in Lubah Plantations (S) Sdn Bhd and Ever-Yield Sdn Bhd, both wholly-owned subsidiaries of Sit Seng & Sons Realty Sdn Bhd (“Sale Shares”).  The LOI was accepted by the Vendor on 8 May 2018. 

For further details of the proposed acquisition, please refer to the attachment.

This announcement is dated 8 May 2018.