Indonesia's Eagle High says not taking legal action against Felda

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JAKARTA (April 16): Indonesia's Rajawali Group on Tuesday denied that its PT Eagle High Plantation Tbk unit was pursuing legal action over Malaysian palm oil plantation agency Felda's plan to walk back on a US$500-million purchase of a stake in the unit.

"Felda and Rajawali, or any subsidiary of Felda or Rajawali, are not or have never been engaged in any court proceeding," Rajawali said in the statement.

A Malaysian official last week said that Eagle High had decided to contest Felda's decision to walk back from its purchase of the stake in arbitration.