TDM, minority shareholder to sell two companies in Indonesia to Ikhasas Sawit for RM115mil

KUALA LUMPUR: TDM Bhd and a minority shareholder had proposed to dispose of their entire equity interests in PT Rafi Kamajaya Abadi (RKA) and PT Sawit Rezeki Abadi (SRA) to Ikhasas Sawit Sdn Bhd, a party nominated by Ikhasas CPO Sdn Bhd, for RM115 million.

In a filing with Bursa Malaysia today, it said the disposal consideration was arrived at based on a "willing buyer-willing seller” basis, after taking into consideration, among others, the value of the plantation assets owned by the disposal companies, the rationale and the effects of the proposed disposal, respectively.