IJM Plantations sales proceeds to be invested

In a circular to shareholders yesterday, IJM Corp said it will be utilising 28% or RM430mil of the proceeds to strengthen the group’s earnings. (File pic shows an IJM Plantation.)

KUALA LUMPUR: IJM Corp Bhd, which is disposing of its entire 56.2% stake in IJM Plantations Bhd to Kuala Lumpur Kepong Bhd (KLK) for RM1.53bil, will be allocating part of the proceeds for future investment opportunities and capital expenditure.

In a circular to shareholders yesterday, IJM Corp said it will be utilising 28% or RM430mil of the proceeds to strengthen the group’s earnings.