NPC Resources sells 2,105 acres of oil palm land in Sabah to Kretam for RM53m

NPC Resources sells 2,105 acres of oil palm land in Sabah to Kretam for RM53m
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KUALA LUMPUR (Sept 30): NPC Resources Bhd is proposing to dispose of a total of 2,105 acres of oil palm land in Sabah to Kretam Holdings Bhd for RM52.72 million.

In a bourse filing, NPC said its subsidiaries Seraya Plantation Sdn Bhd and Bonus Indah Sdn Bhd have on Thursday received acceptance offers from Kretam’s unit Syarikat Kretam Plantations Sdn Bhd.

The group said the transaction comprises three plots measuring a total 1,184 acres priced at RM29.6 million, and another parcel measuring 924.9 acres priced at RM23.12 million.

“The offer is subject to the execution of the sale and purchase agreement/contract which will set out the full terms and conditions agreed upon between vendors and the purchaser.

“The company’s shareholders’ approval is not required for the proposed transactions,” said NPC.

NPC shares last traded at RM1.88, while Kretam closed at 54 sen.

S Kanagaraju