PETALING JAYA: The defence ministry has no plan to sell its shares in Boustead Plantations Bhd (BPlant) by way of the ministry’s subsidiary, the Armed Forces Fund Board (LTAT), says its minister, Khaled Nordin.
Khaled stated LTAT is at present learning BPlant’s future projections to decide its strategic route and additional improve the corporate’s operational efficiency.
“This step is essential to realise the true potential of BPlant and make it a aggressive asset able to delivering sustainable returns in the long run,” he stated in a parliamentary reply.
Radzi Jidin (PN-Putrajaya) had requested the ministry whether or not LTAT had any intention of promoting its shares in BPlant following the corporate’s delisting from Bursa Malaysia on Jan 23.
This was after LTAT acquired the remaining shares in BPlant following Kuala Lumpur Kepong Bhd’s (KLK) failure to take over the corporate.
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LTAT’s unique plan to sell BPlant to KLK had confronted widespread opposition, main to the sudden cancellation of their strategic cooperation settlement.
