Latest news with #FGVHoldings
Free Malaysia Today
02-08-2025
- Business
- Free Malaysia Today
FGV delisting process to begin on Aug 28, says Anwar
Prime Minister Anwar Ibrahim at the 3D Mega Carnival for rural entrepreneurs and Felda settlers in Kuala Lumpur today. (Bernama pic) 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.
Malay Mail
02-08-2025
- Business
- Malay Mail
Felda free to chart FGV's course after delisting, says Anwar
KUALA LUMPUR, Aug 2 — The Federal Land Development Authority (Felda) can begin to independently determine FGV Holdings Bhd's direction once the company completes its delisting process from Bursa Malaysia, which will commence on Aug 28, said Prime Minister Datuk Seri Anwar Ibrahim. The prime minister said that this move will enable Felda, together with its cooperative and settlers, to 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. Felda is a strength and can decide its own direction and provide assurances to the Federal Land Development Authority Malaysia Cooperative (KPF) so that the benefits and interests of the settlers remain the top priority. 'As soon as this matter is settled, I, together with Felda chairman Datuk Seri Ahmad Shabery Cheek and colleagues, will ensure clear guidance from the government — namely, to make sure FGV returns to Felda's original mission,' he said during the launch of the Mega 3D Carnival (MK3D) 2025 here today. Anwar added that the delisting of FGV is a result of Felda's efficient management, and the focus now must be on ensuring that Felda's projects are implemented smoothly in line with the settlers' needs. Earlier, the media reported that Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi announced that Felda now holds 92 per cent of the shares in FGV, paving the way for full ownership and restructuring of the company. In a filing with Bursa Malaysia on Tuesday, FGV announced that Felda has acquired 91.73 per cent of FGV'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. — Bernama
The Star
29-07-2025
- Business
- The Star
FGV set to be delisted from Main Market
FGV said Felda and its persons acting in concert collectively held 91.73% of FGV's total issued shares, as at 5pm yesterday. PETALING JAYA: FGV Holdings Bhd is set to be delisted from the Main Market of Bursa Malaysia after the Federal Land Development Authority (Felda) secured valid acceptances under its unconditional voluntary takeover offer. In a filing with Bursa Malaysia yesterday, FGV said Felda and its persons acting in concert (PACs) collectively held 3.35 billion shares, or 91.73% of FGV's total issued shares, as at 5pm yesterday. In a notice issued by Maybank Investment Bank Bhd on behalf of Felda, it noted that as Felda and the PACs collectively hold more than 90% of the FGV shares and the former does not intend to maintain the listing status of FGV on the Main Market. It said the trading of the FGV shares will immediately be suspended by the local exchange upon the expiry of five market days from the final closing date of Aug 15. Earlier this year, FGV Holdings received an unconditional voluntary takeover offer from Felda for all the remaining shares in FGV Holdings that Felda does not already own at RM1.30 per share. The cash offer of RM1.30 per share remains open for acceptance until 5pm on Aug 15. The previous deadline was July 7. This move is part of Felda's long-term strategic plan to privatise FGV and consolidate its control over the plantation company. The takeover exercise comes after Bursa rejected FGV's request in March 2025 for more time to resolve its low public shareholding issue, which has remained below the 25% threshold since February 2021. For the first quarter ended March 31, 2025 (1Q25), FGV Holdings saw a net profit of RM36.48mil from a previous net loss of RM13.49mil in 1Q24, or earnings per share of one sen. Revenue was also up by 11% year-on-year to RM5.04bil. The group said the plantation division remained the main contributor, supported by a 6% improvement in fresh fruit bunch (FFB) yield and a 24% increase in FFB price. Meanwhile, the average crude palm oil price registered was higher, reaching RM4,784 per tonne at that time.
Malay Mail
16-06-2025
- Business
- Malay Mail
Felda dispatches offer documents for FGV privatisation plan, closing July 7
KUALA LUMPUR, June 16 — The Federal Land Development Authority (Felda) today said it has dispatched the offer documents for its plan to privatise FGV Holdings Bhd, with the offer closing at 5 pm on Monday, July 7, 2025, unless extended. In a filing with Bursa Malaysia, Felda said the offer, made via Maybank Investment Bank, will remain open for acceptance until the first closing date or such later date as may be determined and announced by Maybank on its behalf. The offer forms part of Felda's unconditional voluntary takeover bid to acquire all remaining FGV shares at RM1.30 each. Despite holding a collective 82.34 per cent stake through Felda and its subsidiary, Felda Holdings Company Sdn Bhd, the agency said it has limited influence over FGV's management as it does not control the board. 'Upon successful privatisation, Felda will be better positioned to enhance FGV Group's operational and financial efficiencies by streamlining its upstream and downstream plantation operations. 'Accordingly, Felda is offering holders the opportunity to realise their investment in the offer shares for cash at the offer price, representing a 9.91 per cent premium over the six-month volume-weighted average market price of RM1.1828 as at the latest practicable date (LPD),' it added. The latest bid, launched on May 26 at RM1.30 per share, mirrors Felda's earlier, unsuccessful attempt to privatise FGV in 2020. That year, Felda triggered a mandatory takeover offer after increasing its stake in FGV from 33.66 per cent by acquiring shares from Retirement Fund Inc (KWAP) and Urusharta Jamaah for RM658 million. FGV, which debuted in 2012 at RM4.55 a share, raised RM10.5 billion in one of Malaysia's largest initial public offerings. Its share price has since declined significantly, prompting repeated privatisation efforts. — Bernama
The Star
04-06-2025
- Business
- The Star
M'sia, Guinea-Bissau deepen ties
All smiles: Anwar and Embalo posing for a group photo during a luncheon at the Seri Perdana Complex in Putrajaya. — Photo taken from Anwar's Facebook page PUTRAJAYA: Datuk Seri Anwar Ibrahim has described Malaysia's ties with Guinea-Bissau as a strategic gateway for expanding the nation's presence across the African continent, positioning the West African republic as a vital entry point for trade, investment and diplomatic engagement. The Prime Minister stated that the strengthening relationship between the two nations represents a pivotal shift in Malaysia's strategy towards Africa. 'It is clear that Guinea-Bissau will be a key country to leverage our positive momentum in West Africa and potentially into the broader African continent,' he said at a joint press conference with visiting Guinea-Bissau President Umaro Sissoco Embalo yesterday. Anwar said he has encouraged Malaysian corporations, including PETRONAS and FGV Holdings, to explore potential ventures in Guinea-Bissau. 'Hopefully, PETRONAS, FGV and others will explore potential opportunities not only in Guinea-Bissau but also for it to be a base to expand further into Africa and beyond,' he added. While acknowledging that past ties had been low-key, the Prime Minister said the renewed engagement reflects a shared ambition to forge stronger ties in diverse sectors such as the halal industry, Islamic finance, energy and capacity building. 'President Embalo has a vision to engage Malaysia not just bilaterally but as a bridge into Asean,' he said, reaffirming Malaysia's commitment to inclusive diplomacy anchored under Asean centrality. The Prime Minister also welcomed the deepening of ties between the two nations. 'Malaysia will be your second home. My colleagues, the people of Malaysia and I are very pleased that you have taken the initiative to establish a new relationship based on trust and affinity with Malaysia,' he told Embalo, Bernama reported. Embalo, in turn, hailed Malaysia as a 'sister country' and expressed confidence in the potential for a strong and enduring partnership. 'I believe that starting today, we are not only connected by heart but also ready to work closely on many fronts,' he said. He shared Guinea-Bissau's intention to learn from Malaysia's experience and best practices in various fields, including education, healthcare and industrial development. 'You can count on us. Guinea-Bissau wants to be Malaysia's key partner in Africa, just as Malaysia can be our key partner not only in Asia but globally,' he added. Embalo is undertaking a three-day official visit to Malaysia, marking the first-ever visit by a head of state from Guinea-Bissau. Earlier, Embalo was accorded an official welcome ceremony at the Perdana Putra Complex, where he inspected a guard of honour mounted by three officers and 103 members of the First Battalion of the Royal Malay Regiment (ceremonial), led by Major Mohamad Waqiyudin Abd Rahman. Also present were Deputy Prime Minister Datuk Seri Fadillah Yusof, Cabinet Ministers, senior government officials and diplomats. Following the ceremonial protocols, Embalo signed the guest book before proceeding to a bilateral meeting with Anwar. Malaysia and Guinea-Bissau established diplomatic relations in November 1974. In 2024, Malaysia's total trade with Guinea-Bissau amounted to RM4.1mil, with exports to Guinea-Bissau valued at RM4.04mil and imports at RM0.06mil.
