PETALING JAYA: Golden Land Bhd
’s wholly-owned subsidiary, PT Golden Land Gemilang, is divesting its entire 95% equity interest in two Indonesian palm oil plantation companies for RM147.25mil to UK-based plantation group M.P. Evans Group PLC.
In a filing with Bursa Malaysia, Golden Land said the companies are PT Setara Kilau Mas Adicita (PT SKMA) and PT Sumber Bumi Serasi (PT SBS).
The minority shareholders of PT SKMA and PT SBS – Jeffrey Lachmandas Mahtani and Maurice Maulana Situmorang – are also disposing of their respective 5% stakes in the companies for RM4.25mil to M.P. Evans.
M.P. Evans’ indirect subsidiaries in Indonesia, PT Evans Indonesia and PT Teguh Jayaprima Abadi, are the buyers of the equity sale transactions.
PT SKMA and PT SBS are primarily engaged in oil palm plantation.
