News

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")

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	We refer to the Company’s announcement dated 11 September 2009 and the two (2) separate conditional sale and purchase agreements dated 31 July 2009 (“SPAs”) entered into between RSB and Teck Sing Lik Enterprise Sdn Bhd, Pertumbuhan Abadi Asia Sdn Bhd, Kendaie Oil Palm Plantation Sdn Bhd and Tumbuh Tiasa Enterprises Sdn Bhd (collectively known as the “Vendors”) in relation to the Acquisitions. On behalf of the Board of Directors of RSB, MIMB Investment Bank Berhad is pleased to announce that pursuant to the SPAs, the Company had on 30 October 2009 entered into two (2) separate supplemental sale and purchase agreements with the Vendors whereby the parties have mutually agreed that the period for the fulfilment of the conditions precedent be extended for a further three (3) months from 30 October 2009. This is mainly to allow the Vendors to procure an extension of time/waiver from the relevant authorities to comply with the conditions expressed on the respective land titles of the subject properties to the Acquisitions. This announcement is dated 30 October 2009.

Announcement Info