14th Oct 2025 11:46
(Alliance News) - Anglo-Eastern Plantations PLC on Tuesday announced it entered into a conditional subscription agreement to buy Admiral Potential Sdn Bhd.
The producer of palm oil and rubber across Indonesia and Malaysia said that on completion, it will fully own PT Jaya Jadi Utama, an Indonesian plantation company known as PT JJU.
PT JJU holds 13,645 hectares of ILOK, a location permit, of which 7,169 hectares of HGU, or Right to Cultivate, have been granted in Central Kalimantan, a province of Indonesia.
The consideration for the acquisition is IDR150 billion, around USD9.0 million, and will be funded from existing cash resources.
Anglo-Eastern noted that PT JJU's concession borders its estate under PT Kahayan Agro Plantation, "offering opportunities for operational efficiencies in management, logistics and supply chain coordination."
Anglo-Eastern Chair Jonathan Law said: "The acquisition of PT JJU represents another step forward in our growth strategy. Its location, being directly adjacent to the KAP estate will generate synergies in management, logistics and supplies which will provide additional FFB supply for the new KAP mill. This acquisition further strengthens the group's long-term production profile and supports our commitment to delivering value for shareholders."
Anglo-Eastern shares were 1.5% lower at 1,355.00 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News slot editor
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