Guthrie Bhd. seeks IBRA clarification

Guthrie Bhd. seeks IBRA clarification

KUALA LUMPUR (Dow Jones): Malaysian plantation company
Kumpulan Guthrie Bhd. on Friday said it will request the
Indonesian Bank Restructuring Agency, or IBRA, to clarify a
statement that Indonesia may cancel a planned sale of plantations
to the company.

Kumpulan Guthrie was responding to a recent article in local
daily Business Times that said Indonesia may cancel the sale of
$350 million worth of palm oil plantations to Kumpulan Guthrie
owing to opposition from Indonesia's parliament.

"To date, IBRA has not given any notification that it is
unable or unwilling to complete the transaction," Kumpulan
Guthrie said in a statement to the Kuala Lumpur Stock Exchange.

The Business Times report cited Indonesia's Finance Minister
Prijadi Praptoshardjo as saying the deal may be canceled, but in
a subsequent report, the Business Times cited Praptoshardjo
saying he was committed to the deal.

He reportedly said: "I think we must be tactful as calling off
the deal would affect our credibility as we badly need foreign
investment."