KUALA LUMPUR, Feb 11 — Kulim (M) Bhd’s unit PT Wisesa Inspirasi Nusantara (PT WIN) has entered into a proposed acquisition of four Indonesian companies for a total of RM509.35 million, with 95 per cent equity interest in each company.
The four companies are PT Nusa Persada Indonesia, PT Surya Panen Subur, PT Tempirai Palm Resources and PT Rambang Agro Jaya.
In a filing to Bursa Malaysia today, Kulim said the plantation assets of the companies are located in South Kalimantan, South Sumatera and Aceh.
“The total consideration of RM509.35 million was reached on a willing buyer-willing seller basis, after considering market value, outstanding shareholders’ loans and advances, the aggregate borrowings of the target companies and additional plantation development expenditure,” it said.
Kulim said the proposed acquisitions represent a unique opportunity for the company, via PT WIN, to acquire mid-sized oil palm plantation companies.
“The proposed acquisitions are in line with our aim to expand our plantation land bank and gain larger market access in Indonesia,” it added. — Bernama
