Back
25 Feb 2026
First Resources sells South Sumatra palm subsidiary PT GSB for IDR42b (US$2.5m) in portfolio streamlining move; impact immaterial to 2026 earnings
Summary:
-
The Group disposed of 100% of PT Galempa Sejahtera Bersama, an indirect PT ANJ unit in South Sumatra, for cash proceeds of IDR42.00 billion (about US$2.5 million) after arm’s‑length negotiations.
-
The sale follows the acquisition of PT Austindo Nusantara Jaya Tbk and reflects a strategic decision to streamline First Resources’ oil palm plantation geographical footprint.
-
PT GSB has ceased to be a subsidiary after completion, but the divestment is not expected to have any material impact on the Group’s consolidated NTA or EPS for FY2026.
-
The transaction is classified as a non‑discloseable transaction under SGX Listing Manual Chapter 10, given its relative size versus the Group.