Acquisition of IJM Plantations seen at RM2.1bil to RM3.1bil

Tan Sri Abdul Halim Ali said for FY19 IJM's plantation division would face a challenging year due to the volatility of the commodity prices, foreign exchange rates particularly that of the Indonesian rupiah against the US Dollar and higher borrowing costs.

PETALING JAYA: The potential acquisition of IJM Plantations Bhd by either IOI Corp Bhd or Hap Seng Plantations Holdings Bhd will springboard the acquirer’s planted land bank size by leaps and bounds, PublicInvest Research said in a report.

If the acquisition were to take place, the offer price for IJM Plantations could be in the range of RM2.1bil to RM3.1bil, it said.