Tanoto in Malaysian deal

Tanoto in Malaysian deal

SINGAPORE (Reuter): Asia Pacific Resources International
Holdings Ltd. (APRIL) said yesterday it had been notified by its
majority shareholder -- the Sukanto Tanoto family -- of its
intention to take a majority stake in Sarawak Pulp & Paper.

The project, based on reforestation, is a joint venture
between RGM International and PWE Industries Bhd, a Malaysian-
listed manufacturing company.

APRIL said in a statement that Sukanto Tanoto, who represents
the company's majority shareholder, had indicated his intention
to allow APRIL to buy his interest in the project. It did not say
when.

APRIL would also have access to the pulp produced by the
project through sales agency arrangements when the mill begins
production in 1998. Details will be finalized in the next few
months, it said.

APRIL, listed on the New York Stock Exchange, produces pulp,
paper and rayon fiber for Asia-Pacific markets. It owns three
companies in Indonesia -- PT Inti Indorayon Utama.