First Resources (SGX:EB5) completed the disposal of its palm oil plantation business in Indonesia for 405.6 million Indonesian rupiah, according to a Thursday filing with the Singapore Exchange.
Shares of the company were up nearly 1% in Friday trading.
The company completed the disposal by selling its equity stakes in Permata Putera Mandiri and Putera Manuggal Perkasa which included assets such as 7,400 hectares of nucleus oil palm plantations, a crude palm oil mill and unplanted land bank.
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