PETALING JAYA: Rimbunan Sawit Bhd

(RSB) is proposing to dispose of a parcel of Land at Sungai Bok, Bakong, Baram in the Miri division of Sarawak measuring approximately 613 hectares to Lembaga Amanah Kebajikan Masjid Negeri Sarawak, for RM18.39mil.

In a filing with Bursa Malaysia, RSB said the proposed disposal will enable the company to reorganise and streamline its group of companies’ portfolios of plantation land, and provide the group with an opportunity to realise the value of its investment in the land and generate cash proceeds for its working capital.

“The proposed disposal will also enable RSB to reduce the future management and development expenditure associated with the land and focus its financial and management resources on the remaining estates and mills of RSB’s group of companies.”

Barring any unforeseen circumstances and subject to all requisite approvals/consents being obtained, RSB expects the proposed disposal to be completed by the first half of 2027.