FGV, TH mull up to US$1bil asset sale

The board is investigating six matters on FGV

Kuala Lumpur: Palm oil giant FGV Holdings Bhd and the pilgrims fund are considering selling plantation assets in Indonesia as the government-linked entities seek to improve their financial position, according to sources.

FGV and Lembaga Tabung Haji (TH) are working with an adviser to gauge potential buyer interest in Trurich Resources Sdn Bhd, which controls 42,000ha of oil palm estates in Kalimantan, according to the sources. They may seek to value Trurich at as much as US$1bil including debt.