IJM Plantations a target, cash-rich IOI leading suitor

High demand: Among the suitors eyeing IJM Plantations, which has 61,000ha of planted area in Sabah, Kalimantan and Sumatra, are plantation groups such as IOI and Hap Seng Plantations.

PETALING JAYA: IJM Plantations Bhd (IJMP) has emerged as a takeover target as demand picks up for mature plantations in Sabah.

It is learnt that there is renewed demand for brown-field plantations in Sabah and prospective parties feel that the current environment is right given the low price of crude palm oil (CPO).