Rimbunan Sawit to dispose of agricultural land in Miri for RM165mil


KUALA LUMPUR: Rimbunan Sawit Bhd (RSB) plans to dispose of agricultural land in Miri, Sarawak for RM165 million.

In a filing with Bursa Malaysia today, RSB said that in line with the disposal, its wholly-owned subsidiary R. H. Plantation Sdn Bhd and Jayamax Plantation Sdn Bhd signed agreements with Mahawangsa Sungai Bok Plantation Sdn Bhd.

The agreements consist of supplementary agreements to the conditional sale and purchase agreement (CSPA) 1 and CSPA 2 and vary the mode of settlement of the balance disposal consideration 1 and disposal consideration 2.

The amount of the proposed disposal 1 located at Sawai Land District is valued at RM90 million, while the proposed disposal 2 is valued at RM75 million.

RSB said all other terms and conditions of the CSPA 1 and the CSPA 2 shall remain in full force and effect.

The agreements are available for inspection in Sibu, Sarawak for three months from today. - Bernama

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Rimbunan Sawit , disposal , Miri

   

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