First Resources Limited Announces Disposal of Oil Palm Subsidiary in South Sumatra

Key Highlights for Investors

• Strategic Business Streamlining: First Resources Limited has completed the disposal of its entire equity interest in PT Galempa Sejahtera Bersama (PT GSB), an indirect subsidiary of PT Austindo Nusantara Jaya, Tbk (PT ANJ), which was recently acquired.
• Sale Proceeds: The transaction generated cash proceeds of IDR 42.00 billion, approximately equivalent to US\$2.5 million.
• Transaction Details: The sale was conducted on an “as-is” basis, with the consideration determined through arm’s length negotiations between willing buyer and seller.
• Post-Transaction Status: Following the sale, PT GSB is no longer a subsidiary of First Resources Limited.
• Financial Impact: The disposal is not expected to have any material impact on the Group’s consolidated net tangible assets or earnings per share for the financial year ending 31 December 2026.
• Regulatory Classification: The transaction is classified as a non-discloseable transaction under Chapter 10 of the Singapore Exchange Securities Trading Limited Listing Manual.
• Transparency: Additional information regarding the divestment has been published by PT ANJ on the Indonesia Stock Exchange website and is attached to the official announcement.

What Shareholders Need to Know

Strategic Rationale: This disposal follows the Group’s acquisition of PT ANJ and is part of a broader strategy to streamline its geographical footprint in the oil palm plantation sector. Investors should note that this move signals First Resources’ focus on optimizing operational efficiency and potentially reallocating resources to more profitable or strategic regions.

Impact on Shareholder Value: According to the company, the disposal will not materially affect the Group’s net tangible assets or earnings per share for the current financial year. Therefore, barring further announcements or strategic shifts, this transaction alone is unlikely to have a significant direct impact on the share price or dividend prospects.

Regulatory Transparency: While the transaction is deemed non-discloseable under Singapore Exchange regulations, the company has voluntarily provided detailed information. This transparency may be viewed positively by investors concerned about corporate governance and disclosure standards.

Future Implications: Investors should monitor for any subsequent moves by First Resources Limited as it executes its new strategic direction post-acquisition. The company’s ongoing review of its asset portfolio could result in further disposals, acquisitions, or redeployments of capital, which could be more material to shareholder value in the future.

Additional Information

Shareholders and market participants can access the official disclosure regarding the divestment on the Indonesia Stock Exchange website at https://www.idx.co.id/en/news/announcement.

The company secretary, Lai Kuan Loong, Victor, issued the announcement on 25 February 2026, providing assurance that all compliance requirements have been met and that the information disclosed aligns with regulatory standards.

Conclusion

While the disposal of PT GSB is part of First Resources Limited’s ongoing refinement of its business strategy, the immediate financial impact is not material. However, investors should stay alert to further developments as the company continues to reshape its asset portfolio and operational focus in the wake of its PT ANJ acquisition.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with qualified financial professionals before making any investment decisions related to First Resources Limited or its subsidiaries.

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