KUALA LUMPUR: Boustead Holdings Bhd, in a late statement today, has denied any involvement in any stake disposal agreement involving its plantation arm Boustead Plantations Bhd.
Earlier today, Boustead had declined to comment on the news report by The Edge Weekly over the group's potential sale of its controlling stake in Boustead Plantations,
In its second announcement today, the group, however, said it had made due inquiry with its board of directors as well as major shareholders and all such person reasonably familiar with the matter.
"The company wishes to confirm that it has not entered into any agreement involving the disposal of its stake in Boustead Plantations Bhd. The company continues to focus on its business plan and value creation for its stakeholders and investors," it said in a filing to Bursa Malaysia.
Boustead said this in response to The Edge Weekly report that the group was planning to dispose of its 57 per cent stake in Boustead Plantations.
According to the report, Boustead Plantations had attracted bids from YTL Group, Wilmar International, IOI Corp Bhd and Kuala Lumpur Kepong Bhd.
Analysts have said that the plantation arm's extensive landbank could potentially fetch up to RM3 billion.
Boustead Plantations' shares closed 9.5 sen or 9.41 per cent lower at 92 sen today, giving it a market capitalisation of RM2.05 billion.