Subsidiaries of NPC Resources receive nod from Tamaco Plantation for sale of properties

KUALA LUMPUR: NPC Resources Bhd’s subsidiaries, Berkat Setia Sdn Bhd (BSSB), Bonus Indah Sdn Bhd (BISB) and Kian Merculaba Sdn Bhd (KMSB), have received acceptance from Tamaco Plantation Sdn Bhd (TPSB) for their property sale offer.

These include six parcels of palm oil agriculture land measuring in total 101.71 hectares (ha) in Labuk and Sugut in Sabah held by BSSB for RM5.53 million, three parcels of palm oil agriculture land measuring in total 2,004 ha in Labuk and Sugut held by BISB for RM108.99 million and four parcels of palm oil agriculture land measuring in total 930.68 ha also in Labuk and Sugut held by KMSB for RM50.59 million.

In a filing with Bursa Malaysia today, the group said the offers are subject to the execution of the sale and purchase agreements (SPAs) which will set out the full terms and conditions agreed upon between vendors and the purchaser.

“Subject to all terms being mutually agreed between the parties and the receipt of the earnest deposit by the vendors, the parties shall proceed with the execution of the SPAs within 30 days from the date of acceptance of the offer(s) or any such extended period to be mutually agreed by the parties.

“Further announcements will be made to Bursa Malaysia Securities Bhd upon the finalisation of the terms and conditions of the SPAs and its execution,” it added. - Bernama