No plan to sell LTAT’s shares in BPlant, says defence minister

Defence minister Khaled Nordin said LTAT aims to enhance Boustead Plantations Bhd’s operational performance.

PETALING JAYA: The defence ministry has no plan to sell its shares in Boustead Plantations Bhd (BPlant) through the ministry’s subsidiary, the Armed Forces Fund Board (LTAT), says its minister, Khaled Nordin.

Khaled said LTAT is currently studying BPlant’s future projections to determine its strategic direction and further enhance the company’s operational performance.

“This step is crucial to realise the true potential of BPlant and make it a competitive asset capable of delivering sustainable returns in the long term,” he said in a parliamentary reply.

Radzi Jidin (PN-Putrajaya) had asked the ministry whether LTAT had any intention of selling its shares in BPlant following the company’s delisting from Bursa Malaysia on Jan 23.

This was after LTAT acquired the remaining shares in BPlant following Kuala Lumpur Kepong Bhd’s (KLK) failure to take over the company.

LTAT’s original plan to sell BPlant to KLK had faced widespread opposition, leading to the sudden cancellation of their strategic cooperation agreement. - FMT