JAKARTA (Yosefardi) – Golden Agri-Resources Ltd, controlled by Sinar Mas Group, acquires 100% of the issued and paid-up share capital of Billford Investment Corporation Ltd. (BIC) for US$53.6 million.
BIC, a company established in Malaysia, together with its subsidiaries (BIC Group) own a parcel of land in Dumai, Indonesia with total area of 320,885 sqm land, located next to the Group’s oleochemical plant, refinery and bulking facilities, and is also close to the Group’s plantation estate.
The investment value placed on the Land was Rp834.3 billion (approximately US$62.48 million).
Meanwhile Batu Kawan Berhad, via its wholly-owned subsidiary, Whitmore Holdings Sdn. Bhd. (WMH), has on 8 July 2015 entered into and completed two (2) Shares Sale and Purchase Agreements with Pak Damin and with Pak Bobby Noer Rahman to 90% of the issued and paid-up share capital of plantation firm PT Tekukur Indah for Rp1.39 billion.