RIMBUNAN SAWIT, WTK SIGN SUPLEMENTARY AGREEMENT ON LUMIERA ESTATE DISPOSAL
KUALA LUMPUR, March 31 -- Rimbunan Sawit Bhd and WTK Holdings Bhd have entered into a supplementary agreement to amend and vary certain terms in a sales and purchase agreement worth RM85 million pertaining to the disposal of Lumiera Estate in Baram, Sarawak.
The supplementary agreement signed between Rimbunan’s wholly-owned subsidiary Lumiera Enterprise Sdn Bhd and WTK’s unit Biogreen Success Sdn Bhd involves 4,698.2 hectares together with the oil palm plantation, facilities, infrastructure, improvements and immovable assets on the land.
In a filing with Bursa Malaysia today, the group said both parties had agreed that 10 per cent of the purchase price shall be paid upon signing of the supplementary agreement, with a further RM8.5 million to be paid to Lumiera when Biogreen takes possession of Lumiera Estate.
“The balance of RM59.5 million shall be deposited with Lumiera’s solicitors as stakeholders within two months from the unconditional date, while a sum of RM8.5 million has been paid as deposit or part payment,” it said.
The group added that Biogreen will take possession of the property on April 15, 2020 if the Movement Control Order in relation to COVID-19 has been lifted by then, or on May 1, 2020, should the order be extended.
-- BERNAMA
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