News

Rimbunan Sawit Berhad ("RSB" Or The "Company")Acquisitions Of 100% Equity Interest In Lumiera Enterprise Sdn Bhd From Teck Sing Lik Enterprise Sdn Bhd, Pertumbuhan Abadi Asia Sdn Bhd And Kendaie Oil Palm Plantation Sdn Bhd For A Cash Consideration Of RM31,018,000 And 85% Equity Interest In Woodijaya Sdn Bhd From Tumbuh Tiasa Enterprises Sdn Bhd For A Cash Consideration Of RM27,576,000 ("Acquisitions")

BackNov 30, 2009

Type	Announcement
Subject	RIMBUNAN SAWIT BERHAD (“RSB” OR THE “COMPANY”) ACQUISITIONS OF 100% EQUITY INTEREST IN LUMIERA ENTERPRISE SDN BHD FROM TECK SING LIK ENTERPRISE SDN BHD, PERTUMBUHAN ABADI ASIA SDN BHD AND KENDAIE OIL PALM PLANTATION SDN BHD FOR A CASH CONSIDERATION OF RM31,018,000 AND 85% EQUITY INTEREST IN WOODIJAYA SDN BHD FROM TUMBUH TIASA ENTERPRISES SDN BHD FOR A CASH CONSIDERATION OF RM27,576,000 (“ACQUISITIONS”)
Contents	On behalf of the Board of Directors of RSB, MIMB Investment Bank Berhad (“MIMB”) is pleased to announce that both Lumiera Enterprise Sdn Bhd and Woodijaya Sdn Bhd had on 30 November 2009 obtained the approval from the Director of Lands & Surveys, Sarawak for an extension of time to comply with the planting conditions as expressed on the respective land titles of the subject properties under the Acquisitions. With this, all the conditions precedent as stated in the Sale and Purchase Agreements dated 31 July 2009 in respect of the Acquisitions have been fulfilled and the Acquisitions are now pending implementation. This announcement is dated 30 November 2009.