FGV and Lembaga Tabung Haji are working with an adviser to gauge potential buyer interest in Trurich Resources Sdn, which controls 42,000 hectares (103,800 acres) of oil palm estates in Kalimantan, according to the people. Representatives for FGV and Tabung Haji declined to comment, while Trurich didn’t answer calls to its office seeking comment. The Malaysian finance ministry agreed in December to take over as much as RM19.9bil of underperforming assets from Lembaga Tabung Haji, which helps Muslims save for a pilgrimage to Mecca. A number of plantations are coming up for sale amid forecasts that crude palm oil prices will recover later this year. PT Triputra Agro Persada’s owners, including GIC Pte, are exploring a sale of the Indonesian palm oil producer, people familiar with the matter said in December.

Source: The Star April 23, 2019 11:26 UTC