PETALING JAYA: KUB Agro Holdings Sdn Bhd (Kubah), an indirect wholly-owned subsidiary of KUB Malaysia Bhd
(KUB), has entered into a share purchase agreement with Sinong Enterprise Sdn Bhd for the disposal of 70% of Kubah’s equity interest in KUB Sepadu Sdn Bhd (KUBS) for RM103.37mil.
KUB said in a filing with the stock exchange that the proposed disposal consisted of 4.55 million ordinary shares and is expected to be completed by the second quarter of 2025.
The activities of KUBS are the cultivation of oil palm and the management of oil palm estates.
It said the proposed disposal is a viable proposal for it to partially realise its investments in KUBS estates and limit the required financial resources for the upkeep and maintenance of KUBS estates. — Bernama
