FGV delisting process to begin on Aug 28, says Anwar
KUALA LUMPUR : Felda can begin to independently determine the direction of FGV Holdings Bhd after the company's delisting from Bursa Malaysia, which will begin on Aug 28, said Prime Minister Anwar Ibrahim.
He said Felda, its cooperative and settlers, could then fully focus on the agency's original mission of safeguarding the rights, returns, and interests of the settlers.
'We can proceed with the delisting starting Aug 28. This means Felda is no longer bound. It can decide its own direction and provide assurances to the Felda Cooperative so that the benefits and interests of the settlers remain the top priority,' he said at an event here today.
Anwar said he and Felda chairman Ahmad Shabery Cheek and colleagues would ensure Felda receives clear guidance from the government to make sure FGV returns to Felda's original mission.
FGV informed Bursa Malaysia on Tuesday that Felda had acquired 91.73% of the company's total issued shares. FGV's shares are expected to be suspended from trading five market days after the offer for all remaining shares closes on Aug 15.
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