NPC Resources to dispose of indirectly-owned loss-making subsidiary for RM29mil

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The Star 2h ago

NPC Resources to dispose of indirectly-owned loss-making subsidiary for RM29mil - The Star

Quick Summary:

PETALING JAYA: NPC Resources Bhd is disposing of its indirectly-owned wholly-owned subsidiary, PT Enggang Alam Sawita (EAS), to PT Bayan Resources Tbk and PT Bayan Energy for RM29.33mil.

NPC said the proposed disposal will enable it to accelerate its planting program to develop its remaining unplanted plantation lands in Indonesia and replanting program in Sabah.“The proposed disposal will further improve the cash flow position of the group,” it said.