PETALING JAYA: Rimbunan Sawit Bhd (RSB) is disposing of five parcels of agricultural land collectively measuring 9.935 hectares in Miri, Sarawak, to Mahawangsa Sungai Bok Plantation Sdn Bhd totalling RM165mil.
In a filing with Bursa Malaysia, RSB said the group is undertaking the proposed disposals as part of its strategy to constantly evaluate its portfolio of investments and where possible, seek opportunities to unlock and realise the value of its investments for the benefit of the shareholders of RSB.
“Part of the proceeds of the proposed disposals will be channelled towards the group’s business operations as it will be utilised for new planting and replanting of oil palm. In that regard, the group will be able to conserve its internally generated funds to strengthen its financial position.”
Source: The Star