Investor Relations

The terms used herein shall have the same meaning as those defined in the announcement dated 8 May 2018, unless otherwise stated.

We refer to the announcement dated 8 May 2018 in relation to the intention to acquire the Plantation Assets, including the Sale Shares (“Initial Intention to Acquire”).

The Board of Directors of BPB wishes to announce that BRNSB had, via its letter dated 17 July 2018 to the Vendor, agreed to purchase the following:

(i)    plantation lands comprising 17 titles held by the Vendor and its subsidiaries within the District of Beluran, Kinabatangan and Labuk & Sugut measuring about 12,144.99 acres, inclusive of all movable fixed assets, machineries and vehicles; and

(ii)  a 75-tonne per hour palm oil mill,

for an indicative purchase consideration of RM397 million, varying the Initial Intention to Acquire. This is subject to terms and conditions to be mutually agreed by the parties and the signing of a sale and purchase agreement (“SPA”) to be executed within 30 days from 17 July 2018.

The said letter is not intended to be legally binding until and unless the SPA is entered into by all relevant parties.

This announcement is dated 18 July 2018.