KUALA LUMPUR: WTK Holdings Bhd
has issued a notice of an EGM to seek shareholders’ approval for the proposed acquisitions of 100% stake in Desacorp Sdn Bhd, 70% stake in Imbok Enterprise Sdn Bhd and 70% stake in WTK Oil Mill Sdn Bhd (WTK OM) from related party WTK Realty Sdn Bhd for a total cash consideration of RM555mil.
In a statement, the Sarawak-based diversified group said the proposed acquisitions are part of its strategic restructuring to improve earnings quality and sustainability.
To recap, the group said it has exited its loss-making timber operations following the disposal of its timber subsidiaries in 2025, allowing it to focus on expanding its plantation division as the core growth driver with clearer earnings visibility and stronger long-term fundamentals.
In line with this strategy, the proposed acquisitions will increase WTK’s total planted oil palm area by 82.6% to 31,809.86 ha from 17,420.59 ha.
The group said more than 90% of Desacorp’s estates are in the prime mature and mature stages, providing immediate and stable fresh fruit bunch output, while over 80% of Imbok’s estates comprise immature and young mature palms, offering future yield growth.
Desacorp and Imbok are principally involved in the planting and management of oil palm plantations, while WTK OM is primarily engaged in the operation and management of a palm oil mill.
WTK chairman Tan Sri Sulong Matjeraie said the proposed acquisitions mark a significant step in strengthening the group.
