PETALING JAYA: Rimbunan Sawit Bhd (RSB) is selling five parcels of agricultural land collectively measuring 9.935 ha in Miri, Sarawak, to Mahawangsa Sungai Bok Plantation Sdn Bhd for RM165mil.
In a filing with Bursa Malaysia, RSB said the disposal is part of its strategy to constantly evaluate its portfolio of investments and where possible, seek opportunities to realise the value of its investments for the benefit of shareholders.
“Part of the proceeds 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