FGV receives unconditional takeover offer from Felda at RM1.30 per share
In a notice issued by Maybank Investment Bank Bhd on behalf of Felda, the offer proposes a cash consideration of RM1.30 per share for all outstanding ordinary shares of FGV not currently held by Felda.
As of May 20, 2025, FGV's total issued share capital stood at RM7.02 billion, comprising 3.64 billion ordinary shares and one special share held by the Minister of Finance (Incorporated).
Felda currently owns 69.50 per cent of FGV's equity, amounting to 2.53 billion shares.
With this new offer, Felda and its parties acting in concert (PACS) collectively hold a controlling stake of 86.93 per cent in the plantation and agribusiness giant.
The PACS include Felda's wholly owned subsidiary, Felda Asset Holdings Company Sdn Bhd, together with the Pahang state government.
Other PACs include Koperasi Kakitangan Felda Malaysia Bhd, whose board consists of Felda management, as well as Sulong Jamil Mohamed Shariff and his wife, Salina Samsudin.
The offer would be formally presented to shareholders via an offer document, which outlines the terms, conditions, and acceptance procedures.
"This document, along with the relevant forms, will be dispatched once the Securities Commission confirms that it has no further comments on its contents,' it said.
The move signals Felda's continued efforts to consolidate control over FGV, following previous strategic manoeuvres to increase its stake in the company.
The offer by Felda to acquire remaining shares in FGV would remain open for acceptance for a minimum of 21 days from the posting date, with a closing time of 5 pm.
The offer period may be extended at Felda's discretion, with any changes to the closing date to be announced by Maybank Investment Bank at least two days in advance.
The offer may only be withdrawn with written consent from the Securities Commission, in which case all obligations under the offer would be voided. - Bernama
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
11 hours ago
- Barnama
13MP: Lawmakers Propose Advanced Technology To Strengthen Felda, National Defence
KUALA LUMPUR, Aug 14 (Bernama) -- Strengthening the Federal Land Development Authority (Felda) must be a priority under the 13th Malaysia Plan (13MP) to ensure the long-term economic sustainability of settlers, a lawmaker told Parliament today. Datuk Shamsulkahar Mohd Deli (BN–Jempol) said 112,635 settlers across 317 Felda land schemes nationwide, including 36 in his constituency, require sustained and strategic government support to navigate new challenges. Shamsulkahar proposed adopting advanced technologies such as drones and robotic machinery in oil palm plantations to boost yields and reduce reliance on foreign labour.
The Sun
16 hours ago
- The Sun
Corporate bodies urged to join PPZ-MAIWP for zakat distribution
KUALA LUMPUR: Corporate entities are encouraged to take part in the Federal Territories Islamic Religious Council's Zakat Collection Centre's (PPZ-WAIWP) programmes, which distribute donations and aid to asnaf and other needy groups. Minister in the Prime Minister's Department (Religious Affairs), Datuk Dr Mohd Na'im Mokhtar, said that the collaboration between PPZ-MAIWP and corporate bodies would streamline zakat distribution and ensure that the contributions reach their rightful recipients. 'I call on other companies to follow FGV Holdings Berhad's example in partnering with PPZ-MAIWP, to ensure that zakat funds genuinely reach those in need - which is the most important aspect,' he told reporters after officiating the PPZ-MAIWP and FGV Ziarah Kasih programme, here, today. Mohd Na'im, representing PPZ-MAIWP, received business zakat amounting to RM3.45 million for 2024, from the FGV Group, for the Federal Territory of Kuala Lumpur, in addition to donations worth RM125,000 distributed to 500 asnaf around Taman Wahyu 2. Also present were FGV chairman, Tan Sri Rastam Mohd Isa; PPZ-MAIWP chairman, Datuk Seri Amrin Awaluddin; and FGV Group chief executive officer, Fakhrunniam Othman. - Bernama
New Straits Times
17 hours ago
- New Straits Times
Only 3pct Pahang Felda settlers yet to receive land titles
KUANTAN: The Pahang Assembly was told today that only three per cent of the 43,126 Felda settlers in the state have yet to receive their land titles. State Felda Affairs, Cooperatives and Entrepreneurs Committee chairman Datuk Amizar Abu Adam said the Pahang government will ensure that all settlers receive their titles by the end of this year. "To date, 41,830 settlers across the state have received their titles and only 1,296 settlers, or three per cent, have yet to receive their land titles. "The state authorities, along with the state Land and Mines Office, the Land and District Office, and Felda, are working closely to resolve the matter by the end of 2025," he said in response to a question from appointed assemblyman Mohd Fadzli Mohd Ramly. Fadzli had asked for the total number of settlers and areas that had received land titles from the Pahang government. Amizar said all settlers whose names were in the Register of Holdings when they first joined the Felda schemes will be awarded land titles. Meanwhile, state Consumer Affairs and Human Resources Committee chairman Sim Chon Siang said about 600 new career opportunities will be created in Pahang when the East Coast Rail Link (ECRL) begins operations in Jan 1, 2027. He said that while the mega rail project will require some 1,800 workers for its operational and maintenance phases, around 600 of these positions, covering various skill levels, will be based in Pahang. "These vacancies cover a wide range of categories and levels of experience, including positions such as rail system technicians and engineers, ticketing officers, train crew, station managers, station duty officers, signalmen, and many others. "They will be stationed at ECRL stations across Pahang, namely in Cherating, Kuantan Port City (KPC), KotaSAS, Paya Besar, Maran, Temerloh, and Bentong. "Some will also serve at the Operation Control Centre in KPC, at related depots and maintenance bases in KPC," he said in reply to a question from Datuk Abd Aziz Mat Kiram (BN-Batu Talam) on potential job opportunities for Pahang residents once the ECRL project is completed. Sim said the government will be sending 140 trainees to undergo intensive training as locomotive drivers in Liuzhou, China, in September this year.
