KUALA LUMPUR: TSH Resources Bhd
expects to generate cash of RM517.62mil from the sale of two companies with estates in Kalimantan, to Kuala Lumpur Kepong Bhd’s indirect unit Taiko Plantations Pte Ltd (TPPL).
TSH units TSH Global Plantation Pte Ltd (TGP) and TSH Oversea Pte Ltd (TO) had yesterday entered into conditional sale and purchase agreements with Taiko Plantations to dispose of their 90% stake each in PT Farinda Bersaudara (FB) and PT Teguh Swakarsa Sejahtera (TSS).
In a statement issued to Bursa Malaysia, TSH said the total market value of the estates as appraised by CH Williams was US$121.37mil (RM506.11mil as at yesterday).
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