Ikhasas CPO to buy two firms from TDM

In a filing with Bursa Malaysia, the group also said the proposed disposal provided an opportunity for TDM and its subsidiaries to exit their Indonesian operations and focus their resources on their Malaysian operations. (File pic shows a TDM plantation in Terengganu.)

PETALING JAYA: TDM Bhd has accepted an offer from Ikhasas CPO Sdn Bhd to acquire equity interests in PT Rafi Kamajaya Abadi (RKA) and PT Sawit Rezeki Abadi (SRA).

It said the proposed disposal consists of 93.75% and 95% equity interests in RKA and SRA respectively from TDM, as well as 6.25% and 5% equity interests in RKA and SRA, respectively from the minority shareholder for a total of RM115mil cash.