<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 27): Oriental Holdings Bhd is making a financial advance of US$6 million or RM25.09 million to its Indonesian palm oil plantation subsidiary, PT Sumatra Sawi Lestari.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, Oriental Holdings said the advances would be done by its subsidiary Oriental Boon Siew (Mauritius) Pte Ltd and the group’s wholly-owned subsidiary OBS Singapore Pte Ltd.</p></div>

<div class=newsTextDataWrapInner><p>Sumatra Sawi Lestari is 90% owned by OBS Singapore, 10% owned by PT Tradisi Bina Usaha.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The transaction is to address Sumatra Sawi Lestari's inability to secure favourable credit rating requirements to obtain offshore borrowings, owing to it being in the early stages of developing its oil palm plantation.</p></div>

<div class=newsTextDataWrapInner><p>The proposed advance will be funded from Oriental Boon Siew and OBS Singapore's internal reserves.</p></div>

<div class=newsTextDataWrapInner><p>The financial assistance will facilitate efficient fund management within the Oriental Holdings Group and improve shareholders’ wealth through minimising high cost borrowings, the filing read.<br />
&nbsp;<br />
Oriental Holdings’ share price closed unchanged at RM6.13 today, giving it a market capitalisation of RM3.8 billion.</p></div>


KUALA LUMPUR (Dec 27): Oriental Holdings Bhd is making a financial advance of US$6 million or RM25.09 million to its Indonesian palm oil plantation subsidiary, PT Sumatra Sawi Lestari.

In a filing with Bursa Malaysia, Oriental Holdings said the advances would be done by its subsidiary O...

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<p><em><strong>More to come</strong></em></p>
...

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<p>The yen fell amid volatile trade on Friday after the Bank of Japan (BOJ) maintained its accommodative monetary policy stance at the conclusion of its two-day policy meeting, while Asian shares rose in the broader market.</p>
