KUALA LUMPUR (July 13): Boustead Plantations Bhd said today that it has yet to engage with any interested party over its plan to sell its Sarawak estates.

Responding to an article in the latest issue of The Edge Malaysia weekly, the group said: As a corporate entity that will always find ways to provide the best shareholder value, Boustead Plantations seeks prospects to unlocking the values of our assets, including the estates in Sarawak.

“Nevertheless, the plan is still at the preliminary stage and Boustead Plantations has yet to engage with any interested parties,” it said in a stock exchange filing. 

The article titled “Boustead Plantations to sell Sarawak estates” quoted sources as saying that the group plans to dispose of its low-yielding plantation assets in the East Malaysian state and that there are already offers on the table.

In its filing today, Boustead Plantation said its newly-appointed CEO Zainal Abidin Shariff will “take this opportunity to reevaluate all existing plans, implementations and future initiatives, so that they are consistent with the overall Reinventing Boustead Strategy”.

Boustead Plantations’ share price was unchanged at 60 sen today, valuing the group at RM1.34 billion.