Rimbunan Sawit Bhd will sell its full stake in a distant palm estate in Miri, Sarawak—consisting of four adjoining leasehold parcels spanning 1,504.53 hectares—for RM28.0 million. The group says this divestment will enable it to “withdraw from an unprofitable operation,” and it is slated to close by late June.

Per the announcement, the Miri estate has failed to yield adequate returns due to its remote position and lack of nearby processing facilities. By offloading this non-core holding, Rimbunan Sawit aims to streamline its plantation portfolio, curb ongoing operating losses, and reinvest capital into higher-performing assets.

Under the terms of the sale agreement, the purchaser will assume the estate’s existing land leases—each valid through 2037—with no further obligations for the vendor beyond the handover. Upon completion, Rimbunan Sawit will collect the full RM28.0 million in cash, bolstering its balance sheet and enhancing working-capital flexibility. The proceeds are expected to be recognised in this fiscal year’s financial statements.

Once this transaction is finalised, Rimbunan Sawit’s planted area will shrink by about 1,500 hectares. The board believes the move will strengthen earnings per share and boost return on equity by concentrating resources on better-performing estates elsewhere.

📊 Miri Property Market Insight

Miri’s property sector is steadily expanding, supported by new infrastructure investments, a robust oil & gas industry, rising population, and growing demand for rental and secondary-market units. Staying informed on development launches, price movements, and government policies helps buyers and investors make well-founded decisions.

💡 What This Means for Buyers & Investors

Homebuyers in Miri can choose from affordable units to high-end gated and guarded communities. Investors may achieve attractive rental yields in key areas such as Marina, Permyjaya, Taman Tunku, and city-centre apartments. New project openings also offer early-bird pricing and developer incentives.

🔗 Useful Resources

• Up-to-Date Property Listings in Miri
• Upcoming Project Launches in Miri
• Guides & Tips for Property (Malaysia)

Disclaimer: This article was automatically sourced from reputable news outlets. Information is for general reference only. Always verify project details, pricing, and investment decisions with licensed agents or official developers.