27.03.2018 (The Star Online) - KUALA LUMPUR: IJM Plantation Bhd’s (IJM) indirect subsidiary, PT Indonesia Plantation Synergy (IPS), has entered into a shareholders agreement with PT Perindustrian Sawit Synergi (PT PSS), KL-Kepong Plantation Holdings Sdn Bhd (KLKPH) and an individual shareholder to regulate the relationship and obligations as shareholders of PT PSS.

In a filing with Bursa Malaysia, IJM said pursuant to the agreement, IPS and the individual shareholder would own 20% and 5% stakes in PT PSS respectively, while KLKPH would own a majority of 75%.

“IPS will subscribe for 44,000 shares in PT PSS for a total cash consideration of RM13mil,” it said.

PT PSS is a joint venture involving the three parties for the purpose of building, owning and operating an integrated oil palm refinery complex, comprising a new oil palm refinery plant and a new palm kernel crushing plant.

IPS is a 90%-owned subsidiary of PT Primabahagia Permai, which in turn is a 95%-owned subsidiary of IJM Plantation’s unit, Minat Teguh Sdn Bhd.

Meanwhile, KLKPH is a wholly-owned subsidiary of Kuala Lumpur Kepong Bhd

Bernama

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