Lembaga Tabung Haji To Take TH Plantations Private

Lembaga Tabung Haji  is considering taking its agricultural firm TH Plantations Bhd, of which it owns 73 per cent, private, says Bloomberg.

The business portal says Lembaga Tabung Haji has asked banks for proposals on the potential deal for the owner of palm oil and rubber plantations.

Amid a rally in palm oil prices, shares in TH Plantations have risen 4% in the year to date, giving it a market value of about 526 million ringgit ($127 million). 

According to Bloomberg, discussions are in the early stages and Lembaga Tabung Haji could decide not to proceed with the plan.

Palm prices are expected to remain high due to lower production of palm oil and other oils, planters Sime Darby Plantation Bhd. and FGV Holdings Bhd. said this month following the release of their latest quarterly earnings.

LEAVE A REPLY

Please enter your comment!
Please enter your name here