FGV gets nod for RM230mil acquisitions of companies from KPF
The resolution, endorsed during the company's 17th extraordinary general meeting (EGM) on June 26, 2025, involves two of FGV's key subsidiaries FGV Palm Industries Sdn Bhd (FGVPI) and Felda Holdings Bhd (FHB).
FGV said FGVPI, which is 72 per cent-owned indirectly by it, will acquire the remaining stakes in three of its non-wholly owned subsidiaries from KPF for RM54.7 million.
FHB, a wholly owned unit of FGV, will acquire the remaining equity interests in five subsidiaries for RM175.1 million, it said.
FGV said the exercise aims to consolidate its corporate structure, enhance decision-making agility and ensure tighter alignment with the company's strategic priorities.
"With full ownership, FGV will be better equipped to drive performance and accelerate execution across its core businesses," it added.
FGV also held its annual general meeting (AGM) chaired by its chairman Tan Sri Rastam Mohd Isa.
The AGM saw participation from 1,655 shareholders and proxies, both physically and virtually.
All nine resolutions tabled during the AGM were approved, reflecting continued shareholder confidence in FGV's leadership and direction.
FGV group chief executive officer Fakhrunniam Othman said it remains vigilant amid an unpredictable global landscape shaped by trade tensions and market volatility.
While early signs of recovery in commodity prices are emerging, Fakrunniam said the outlook remains cautious.
"That is why we are sharpening our focus on driving operational excellence, strengthening stakeholder partnerships, expanding into high-value products, and leveraging advanced technologies to ensure FGV remains resilient and future-ready," he added.
With the successful conclusion of both meetings, FGV reaffirms its commitment to strengthening its fundamentals, accelerating transformation, and delivering sustainable value to its shareholders.
Supported by a clear strategic direction and ongoing support from its shareholders, FGV is well-positioned to meet future challenges and unlock new opportunities for sustainable growth.
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