News

On behalf of the Board of Directors of RSB, Maybank Investment Bank Berhad wishes to announce that the following agreements have been entered into today:

(i) conditional agreement between RSB and Tiasa Mesra Sdn Bhd to dispose of all the rights, titles and interests in relation to a plantation estate with a gross licensed area of 15,017 hectares via an absolute assignment, development costs, biological assets, commercial rights and all the fixtures and fittings relating thereto for a cash consideration of RM150.0 million;

(ii) conditional sale and purchase agreement between RSB Lundu Palm Oil Mill Sdn Bhd and R H Lundu Palm Oil Mill Sdn Bhd to acquire a parcel of land together with a palm oil mill (“Lundu Oil Mill”) (including workers’ quarters) erected thereon and plant and machinery used for the operation of the Lundu Oil Mill for a total cash consideration of RM33.7 million; and

(iii) conditional share sale agreement between RSB and Pertumbuhan Abadi Asia Sdn Bhd, Teck Sing Lik Enterprise Sdn Bhd and Tan Sri Datuk Sir Diong Hiew King @ Tiong Hiew King to acquire 100,000 ordinary shares in Sastat Holdings Sdn Bhd ("SHSB"), representing the entire equity interest in SHSB, for a total cash consideration of RM17.0 million.

Please refer to the attached announcement for details of the Proposals.

This announcement is dated 22 February 2017.