NPC withdraws offer to sell Sabah estates

KUALA LUMPUR: NPC Resources Bhd has aborted a plan to sell about 4,600 ha of oil palm plantations in Sabah to IOI Corp Bhd.

“The company is unable to accept the indicated revised purchase price for the proposed transactions and is withdrawing the offer to sell the properties and the Koperasi land, and as such would discontinue further negotiations on the terms of the proposed transactions,” NPC said in a filing with Bursa Malaysia yesterday.