Rimbunan Sawit Berhad (“RSB”) wishes to announce that its wholly-owned subsidiary namely Woodijaya Sdn. Bhd. had on 4 June 2020 entered into a Sale and Purchase Agreement with Muzana Plantation JV Sdn. Bhd. to dispose one (1) parcel of land situated at between Sungai Bakong and Sungai Baram, Baram containing an area of 2,819 hectares, more or less and described as Lot 1200, Puyut Land District together with the oil palm plantation, its facilities, infrastructures, improvements, immovable assets but excluding the movable assets thereon for a total cash consideration of Ringgit Malaysia Fifty-Three Million (RM53,000,000) only (“Proposed Disposal”).

Further details of the Proposed Disposal is outlined in the file as attached.

This announcement is dated 4 June 2020.