KUALA LUMPUR (Dec 10): KUB Malaysia Bhd (KUB) said the fulfilment of the conditions under the Sale and Purchase Agreement (SPA) signed between its indirect wholly-owned subsidiary, KUB Agro Holdings Sdn Bhd, and Beradin Plantation Sdn Bhd has been extended by 30 days until Jan 8, 2021.

Under the SPA made on June 10, 2020, KUB Agro Holdings had proposed to dispose of two oil palm estates in Kluang, Johor to Beradin Plantation for RM158 million cash.

"The compliance period for the fulfilment of the conditions precedent under the SPA made between KUB Agro Holdings and Beradin Plantation has been extended by 30 days until Jan 8, 2021," said CIMB Investment Bank Bhd in a filing to Bursa Malaysia, on behalf of KUB.

"Save for the above, all other terms of the SPA remain unchanged," it said.