Dutaland to proceed with plantation sale

Dutaland Bhd shareholders approved the sale of its plantation assets in Sabah by its wholly-owned subsidiary Duta Plantations Sdn Bhd for RM750 million cash to Boustead Plantations Bhd.
 
In an exchange filing yesterday, Dutaland noted the 11,579.31 ha land was located in  Labuk-Sugut, Beluran and Tongod, Sabah.
 
RHB Investment Bank Bhd and MIDF Amanah Investment Bank Bhd said the disposal was reasonable and fair.