KUALA LUMPUR (Bloomberg): Palm oil giant FGV Holdings Bhd and the Malaysian pilgrims fund are considering selling plantation assets in Indonesia as the government-linked entities seek to improve their financial position, people with knowledge of the matter said.

FGV and Lembaga Tabung Haji are working with an adviser to gauge potential buyer interest in Trurich Resources Sdn, which controls 42,000 hectares (103,800 acres) of oil palm estates in Kalimantan, according to the people.

They may seek to value Trurich at as much as US$1bil including debt, the people said, asking not to be identified because the information is private.

Prime Minister Tun Dr Mahathir Mohamad has been seeking to clean up the balance sheets of state-backed companies after a global scandal erupted over the previous government’s stewardship of the 1MDB investment fund.

...

Full Article on TheStar