Boustead Plantations seen as prime privatisation target

Floating this idea in a report, the brokerage said a potential privatisation could be self-funded by disposing some small parcels of land owned by Boustead Plantations. It pointed out that Boustead Plantations owns 18,419 ha of freehold land in Peninsular Malaysia.

PETALING JAYA: Boustead Plantations Bhd is seen as a prime privatisation target by its immediate holding company Boustead Holdings Bhd.

An exercise towards this end would result in an “acquisition gain” for the latter, according to Maybank Investment Bank (Maybank IB) Research.