Sime Darby Plantation sells Indonesian land for RM123.1m

PETALING JAYA: Sime Darby Plantation Bhd has disposed of its entire stake in PT Mitra Austral Sejahtera (PT MAS) to PT Inti Nusa Sejahtera (PT INS) for US$29.7 million (RM123.1 million).

PT MAS is principally engaged in the cultivation of and processing of crude palm oil and palm kernel. It has about 7,074.04 hectares of land planted with in Kabupaten Sanggau, Kalimantan Barat, Indonesia.

The group told Bursa that its indirect wholly-owned subsidiaries PT Ladangrumpun Suburabadi (PT LSI) and PT Teguh Sempurna (PT TSA) had on June 25 disposed of their respective 99.9993% and 0.0007% equity interest in PT MAS.

Following the disposal, PT MAS has ceased to be an indirect subsidiary company of Sime Darby Plantation.

At the midday break, the stock declined 3 sen or 0.6% to RM4.86 on 569,200 shares done.

Source: The Sun Daily

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