KUALA LUMPUR: TSH Sources Bhd plans to get rid of land in North Kalimantan, Indonesia for a complete of RM711.66 million.
In a submitting with Bursa Malaysia at the moment, the oil palm plantation group mentioned the proposed disposal might be made by way of its 90 per cent-owned subsidiary, PT Bulungan Citra Agro Persada (BCAP).
TSH Sources mentioned that in step with the proposed disposal, BCAP has entered right into a heads of settlement with PT Kawasan Industri Kalimantan Indonesia and PT Kalimantan Industrial Park Indonesia.
The proposed disposal consists of two plots of land in Tanah Kuning Village, masking a complete space of 3,829.27 hectares (ha); and 5 plots of land in Mangkupadi Village, masking a complete space of 9,385.63 ha.
The group added that the disposal additionally consists of plots of land in Tanah Kuning Village and Mangkupadi Village which were beforehand acquired by TSH Sources from people landowners however haven’t but been licensed and registered within the Nationwide Land Company Indonesia.
“The patrons intend to undertake an industrial growth on the topic land, whereas the proposed disposal might be glad completely by money,” it mentioned. – Bernama