Oriental Holdings Berhad has shown interest in acquiring the remaining stake in 3 plantation companies namely Selasih Permata, Oriental Boon Siew, and Southern Perak Plantation for a proposed RM1.2 billion.
- The holding group currently owns 49.50% Selasih Permata Sdn Bhd for a cash consideration of RM646,931,000
- and the balance 60.50% equity interest in Southern Perak for a cash consideration of RM155,327,000.
Simultaneously with the Proposed Share Acquisitions, Oriental Holdings had also entered into conditional sale and purchase agreements with Boontong Estates Sdn Bhd to acquire the plantation estates, which are to be held through Southern Perak. Oil palm plantation land held under 17 land titles measuring a total of 77.51 hectares for a cash consideration of RM41,000,000.
Plantation land held under 30 land titles measuring a total of 1,704.24 for a cash consideration of RM132,000,000 and oil palm plantation land held under 22 land titles measuring a total of 1,668.60 for a cash consideration of RM224,100,000.
The group has appointed Mercury Securities as the independent adviser to advise the non-interested Directors and non-interested stockholders of OHB on the Proposals.
