Boustead Plantations a prime privatisation target

“Boustead Plantation trades at an undemanding 0.43 times price-to-book value (PBV), and 0.26 times price/realised net asset value (P/RNAV). Maintain Buy with an unchanged discounted RNAV target price of 62 sen a share, ” it said. Its closing price was 49 sen.

KUALA LUMPUR: Boustead Plantations is a prime privatisation target by its immediate holding company, Boustead Holdings Bhd, which will result in an “acquisition gain” for the latter.

Maybank Investment Bank Research said on Monday this privatisation exercise can be self-funded by disposing some small parcels of land owned by Boustead Plantations.