KUALA LUMPUR, WTK Holdings Bhd, together with its wholly-owned subsidiary BioPalm Venture Sdn Bhd, has announced plans to acquire three companies in deals worth a combined RM555 million.
In a filing with Bursa Malaysia, WTK said the proposed acquisitions are part of its strategy to strengthen its footprint in the oil palm sector in Sarawak, covering upstream plantation activities as well as palm oil milling operations.
The first deal, with WTK Realty, involves the purchase of seven million ordinary shares in Desacorp Sdn Bhd — representing 100% equity interest — for RM230 million.
The second transaction, through BioPalm Venture and WTK Realty, will see the acquisition of 14 million shares in Imbok Enterprise Sdn Bhd, equivalent to a 70% stake, for RM290 million.
Meanwhile, the third proposal involves BioPalm Venture and WTK Realty acquiring 3.5 million shares in WTK Oil Mill Sdn Bhd, also representing a 70% equity interest, for RM35 million.
Upon completion, Desacorp will become a wholly-owned subsidiary of WTK, while Imbok Enterprise and WTK Oil Mills will be 70%-owned subsidiaries of BioPalm Venture.
WTK said the acquisitions will boost the group’s financial strength, as the subsidiaries’ results will be consolidated into the group’s accounts in line with Malaysian Financial Reporting Standards. This is expected to enhance WTK’s asset base, revenue streams, profitability, cash flow, and long-term earnings visibility.
“Given the robust global demand for palm oil, the group remains optimistic about the plantation division’s ability to deliver sustainable growth and profitability in the coming years,” it said. The acquisitions are targeted for completion by the first quarter of 2026.
