Boustead Plantations Up for Sale?(Overweight)

According to The Edge Weekly, the Lembaga Tabung Angkatan Tentera (LTAT) is seeking buyers for its 100%-owned Boustead Plantations. Tan Sri Syed Mokhtar Albukhary’s privately owned Tradewinds Plantation, SD Guthrie, and another privately owned plantation firm are said to be among the bidders.

Boustead Plantations

It is believed that the final bids were submitted last week, and a decision could be made by the end of June. Sources cited the deal could be valued at RM2-3bn, lower than its RM3.5bn privatisation cost in early 2024.

Meanwhile, CPO futures recently witnessed a sharp retracement, down more than 6% to RM4,417/mt after hitting a high of RM4,708/mt, says PIB. 

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