KUALA LUMPUR: Kulim (M) Bhd, in consolidating its Indonesian operations, will divest its palm oil plantation in Sumatra to focus on building up its presence in central Kalimantan.
Managing director Ahamad Mohamad said the company would divest its stakes in wholly-owned subsidiaries, PT Multrada Multi Maju and PT Padang Bolak Jaya, as well as its 71% equity in PT Trimitra Sumber Perkasa, to a company domiciled in the British Virgin Islands for US$60mil cash.
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