Latest news with #FGVPI
New Straits Times
02-07-2025
- Business
- New Straits Times
FGV gets nod for RM230mil acquisitions of companies from KPF
KUALA LUMPUR: FGV Holdings Bhd received shareholders' nod for its proposed acquisition of the remaining interests in eight subsidiaries from Koperasi Permodalan Felda Malaysia Bhd (KPF) for RM229.8 million. 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.
The Star
23-05-2025
- Business
- The Star
FGV to acquire full ownership in eight subsidiaries for RM229.75mil
KUALA LUMPUR: FGV Holdings Bhd will acquire full ownership of eight subsidiaries via share purchases totalling RM229.75 million from Koperasi Permodalan Felda Malaysia Bhd (KPF). In a filing to Bursa Malaysia today, FGV said its units, FGV Palm Industries Sdn Bhd (FGVPI) and Felda Holdings Bhd (FHB), have signed conditional share sale agreements to acquire the remaining stakes in the companies currently jointly owned with KPF. Under the agreements, FGVPI will acquire the remaining interests in three companies - FGV Kernel Products Sdn Bhd (16.67 per cent), FGV Refineries Sdn Bhd (33.33 per cent) and FGV Marketing Services Sdn Bhd (49 per cent) - for RM54.70 million. Meanwhile, FHB will purchase the remaining stakes in five companies - FGV Agri Services Sdn Bhd (23.08 per cent), FGV Transport Services Sdn Bhd (49 per cent), FGV Security Services Sdn Bhd (49 per cent), FGV Prodata Systems Sdn Bhd (20 per cent), and FGV Rubber Industries Sdn Bhd (28.57 per cent) - for RM175.05 million. FGV said the acquisitions will be fully funded through a mix of RM140 million in new borrowings and RM89.7 million from internal funds. "The exercise will allow FGV to streamline operations and gain better control over strategic decision-making and performance management across its subsidiaries,' it said. The group said proposed acquisitions would allow the FGV Group to streamline the company's business operations and facilitate faster decision-making, which better aligns with the group's strategic direction. The proposed acquisitions are expected to be completed by the third quarter of 2025, subject to shareholder and regulatory approvals. Maybank Investment Bank is acting as the principal adviser, while QuantePhi Sdn Bhd has been appointed as the independent adviser to assess the fairness of the deal to minority shareholders. - Bernama
New Straits Times
23-05-2025
- Business
- New Straits Times
FGV to acquire full ownership in eight subsidiaries for RM229.75mil
KUALA LUMPUR: FGV Holdings Bhd will acquire full ownership of eight subsidiaries via share purchases totalling RM229.75 million from Koperasi Permodalan Felda Malaysia Bhd (KPF). In a filing to Bursa Malaysia today, FGV said its units, FGV Palm Industries Sdn Bhd (FGVPI) and Felda Holdings Bhd (FHB), have signed conditional share sale agreements to acquire the remaining stakes in the companies currently jointly owned with KPF. Under the agreements, FGVPI will acquire the remaining interests in three companies - FGV Kernel Products Sdn Bhd (16.67 per cent), FGV Refineries Sdn Bhd (33.33 per cent) and FGV Marketing Services Sdn Bhd (49 per cent) - for RM54.70 million. Meanwhile, FHB will purchase the remaining stakes in five companies - FGV Agri Services Sdn Bhd (23.08 per cent), FGV Transport Services Sdn Bhd (49 per cent), FGV Security Services Sdn Bhd (49 per cent), FGV Prodata Systems Sdn Bhd (20 per cent), and FGV Rubber Industries Sdn Bhd (28.57 per cent) - for RM175.05 million. FGV said the acquisitions will be fully funded through a mix of RM140 million in new borrowings and RM89.7 million from internal funds. "The exercise will allow FGV to streamline operations and gain better control over strategic decision-making and performance management across its subsidiaries," it said. The group said proposed acquisitions would allow the FGV Group to streamline the company's business operations and facilitate faster decision-making, which better aligns with the group's strategic direction. The proposed acquisitions are expected to be completed by the third quarter of 2025, subject to shareholder and regulatory approvals. Maybank Investment Bank is acting as the principal adviser, while QuantePhi Sdn Bhd has been appointed as the independent adviser to assess the fairness of the deal to minority shareholders. -- BERNAMA
