BPlant share disposal necessary for debt settlement

KUALA LUMPUR: Boustead Holdings Bhd’s (Boustead) move to dispose of a 33 per cent stake in Boustead Plantations Bhd (BPlant) to Kuala Lumpur Kepong Bhd (KLK) was necessary to resolve its cash flow problem and as debt settlement before the end of its financial year on Dec 31, 2023.

Defense Minister Datuk Seri Mohamad Hasan said the Armed Forces Fund Board (LTAT) and Boustead still have the opportunity to be among BPlant's main shareholders after the completion of the transaction.