Latest news with #FakhrunniamOthman
Barnama
5 days ago
- Business
- Barnama
Festival FGV 2025 Receives Overwhelming Response, Attracts Over 2.1 Million Visitors
KUALA LUMPUR, Aug 7 (Bernama) -- The FGV Festival 2025, organised by FGV Holdings Berhad (FGV) from July 30 to Aug 3 in conjunction with FELDA Settlers' Day 2025 at the Mega 3 Dimensional (MK3D) Carnival, received an overwhelming response with over 2.1 million visitors. FGV Group Chief Executive Officer Fakhrunniam Othman stated that the festival, a joint effort with the Ministry of Rural and Regional Development, the Ministry of Entrepreneur and Cooperatives Development, and the Federal Land Development Authority, is a testament to FGV's commitment to empowering rural communities and driving the country's palm oil industry transformation to a global stage. "The FGV Festival 2025 provided us with a space to engage with them, listen directly, and build stronger trust. Today, more than 70% of FGV's fresh fruit bunches (FFB) come from FELDA settlers and smallholders. 'This relationship goes beyond mere numbers; it is a significant trust that remains the core of every step in our transformation. FGV remains committed to working together to build an inclusive and sustainable future for the nation," he said in a statement today. Among the festival's main highlights were the launch of five new SAJI products, the introduction of mechanisation technology for the plantation sector, strategic collaborations with Universiti Malaysia Kelantan for the development of food supplements and with Ditrolic Energy for the installation of a 5-megawatt solar photovoltaic (PV) system across 11 FGV operations, as well as the company's first mobile game, FGV EduGames. Fakhrunniam said the support from Prime Minister Datuk Seri Anwar Ibrahim and Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi for the festival sends a clear signal that the future of FELDA and FGV is a crucial agenda in the country's development. "The ongoing transformation of FGV is a strategic move that strengthens its commitment to settlers, shareholders, business partners, and the business ecosystem. "In fact, FGV will continue to be committed to responsible business practices, integrity, and the core values we hold - Partnership, Respect, Integrity, Dynamism, Enthusiasm (P.R.I.D.E)," he said. He stated that FGV's consumer brands, such as SAJI, SERI PELANGI, and GULA PRAI, have built a strong reputation among local consumers through their quality, value, and reliability.
The Star
02-07-2025
- Business
- The Star
FGV Holdings secures nod for subsidiary buyout
The company said the strategic exercise aims to consolidate FGV's corporate structure. KUALA LUMPUR: FGV Holdings Bhd has secured shareholders' approval to acquire the remaining equity interests in eight subsidiaries from Koperasi Permodalan Felda Malaysia Bhd (KPF) for RM229.8mil to consolidate its corporate structure. The approval was granted during the company's EGM on June 26, following its 17th AGM on the same day. In a statement yesterday, FGV said FGV Palm Industries Sdn Bhd, a 72%-owned indirect subsidiary, will acquire the remaining stakes in three subsidiaries from KPF for RM54.7mil, while Felda Holdings Bhd, a wholly-owned subsidiary, will acquire the remaining interests in five subsidiaries for RM175.1mil. 'This strategic exercise aims to consolidate FGV's corporate structure, enhance decision-making agility, and ensure tighter alignment with the group's strategic priorities. 'With full ownership, FGV will be better equipped to drive performance and accelerate execution across its core businesses,' it said. Meanwhile, FGV said it posted a 14% increase in revenue to RM22.16bil for the financial year ended Dec 31 (FY24), with net profit at RM276mil, supported by operational efficiencies and improved margins. FGV chairman Tan Sri Rastam Mohd Isa said last year was a period of solid operational progress for the group. 'Despite global economic headwinds, geopolitical uncertainty, and environmental challenges, FGV remained resilient and agile, emerging stronger and more focused, turning challenges into opportunities,' he said. Looking ahead, FGV group chief executive officer Fakhrunniam Othman said the group remains cautious as it navigates an unpredictable global marked by trade tensions and market volatility. 'We are sharpening our focus on operational excellence, stakeholder partnerships, high-value products and advanced technologies to ensure FGV remains resilient and future-ready,' Fakhrunniam said. — Bernama
The Star
02-07-2025
- Business
- The Star
FGV secures shareholder nod for RM229.8mil subsidiary buyout
FGV Holdings Bhd chairman Tan Sri Rastam Mohd Isa (fifth from left) holding FGV's Annual Integrated Report 2024 alongside the Board of Directors at its AGM. KUALA LUMPUR: FGV Holdings Bhd has secured shareholders' approval to acquire the remaining equity interests in eight subsidiaries from Koperasi Permodalan FELDA Malaysia Bhd (KPF) for RM229.8 million to consolidate its corporate structure. The approval was granted during the company's extraordinary general meeting on June 26, following its 17th annual general meeting on the same day. In a statement today, FGV said FGV Palm Industries Sdn Bhd, a 72 per cent-owned indirect subsidiary, will acquire the remaining stakes in three subsidiaries from KPF for RM54.7 million, while FELDA Holdings Bhd, a wholly-owned subsidiary, will acquire the remaining interests in five subsidiaries for RM175.1 million. "This strategic exercise aims to consolidate FGV's corporate structure, enhance decision-making agility, and ensure tighter alignment with the group's strategic priorities. "With full ownership, FGV will be better equipped to drive performance and accelerate execution across its core businesses," it said. Meanwhile, FGV said it posted a 14 per cent increase in revenue to RM22.16 billion for the financial year ended Dec 31, 2024 (FY2024), with profit after tax and minority interest (PATAMI) at RM276 million, supported by operational efficiencies and improved margins. FGV chairman Tan Sri Rastam Mohd Isa said 2024 was a year of solid operational progress for the group. "Despite global economic headwinds, geopolitical uncertainties, and environmental challenges, FGV remained resilient and agile, emerging stronger and more focused, turning challenges into opportunities," he said. Looking ahead, FGV group chief executive officer Fakhrunniam Othman said the group remains cautious as it navigates an unpredictable global landscape marked by trade tensions and market volatility. "We are sharpening our focus on operational excellence, stakeholder partnerships, high-value products and advanced technologies to ensure FGV remains resilient and future-ready," he said. - Bernama
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
28-05-2025
- Business
- The Star
FGV's 1Q earnings bolstered by higher FFB yields, price
KUALA LUMPUR: FGV Holdings Bhd 's performance in the first quarter of 2025 (1QFY25) was buoyed by the contribution of its plantations division, which benefited from increases in fresh fruit bunch (FFB) yield and price. "We are encouraged by the improved 1Q FY2025 results, particularly the consistent performance of our plantation division. "A steady growth compared to same quarter last year, reflects the resilience of our operations and the positive impacts of our ongoing agronomic improvements," said group CEO Fakhrunniam Othman in a statement. In 1QFY25, FGV's bottomline turned positive with a net profit of RM36.48mil as compared to a net loss of RM13.49mil in the year-ago quarter. The group posted an earnings per share of one sen as compared to a loss per share of 0.37 sen in the comparative quarter. Revenue during the quarter under review rose to RM5.04bil from RM4.54bil previously. According to FGV, the plantations division posted a strong turnaround during the quarter, with a profit of RM50.67mil compared to a loss of RM62.14mil in the same quarter in 2024. The improvement was driven by a 5% increase in FFB production to 770,000 tonnes (MT), resulting in a higher FFB yield of 3.05MT per hectare. There was also a 24% increase in FFB price, which reached RM974 per MT, although the oil extraction rate declined to 19.94% from 20.59% in the same quarter in 2024. The division's performance was further supported by stronger contributions from the R&D segment, particularly the fertiliser business, which recorded stronger margins and higher sales volume. However, these gains were partially offset by a higher fair value charge on the land lease agreement, which increased to RM115.91mil from RM86.04mil in the same period last year. The group's other divisions did not fare as well during the quarter. The oils and fats division reported a loss of RM11.57mil due a lower margin in the bulk commodities segment and reduced processed palm oil (PPO) delivery volumes. In the logistics and support division, there was a slightly lower net profit of RM32.47mil, driven by lower tonnage handled in the logistics segment, although this was partially offset by higher profit in the IT segment. The sugar division posted a lower profit of RM11.46mil against RM67.17mil in the same quarter last year due to reduced margin, lower sales volume and decreased capacity utilisation, despite a reduction in production costs The consumer products division narrowed its losses to RM6.09mil from RM8.75mil in the corresponding quarter of the previous year, supported by better margins in the consumer products segment and lower losses in the integrated farming and dairy segments. Moving forward, FGV said CPO prices are expected to ease from RM4,700 per MT to about RM4,000 per MT in the coming months as supply improves with favourable weather, seasonally higher cropping cycles, and the absence of festive-related demand. The group said it will continue enhancing yields, extracting greater value from existing assets and expanding its footprint in the domestic consumer market. Over the longer term, FGV is advancing portfolio diversification through high-value fast-moving consumer goods (FMCG) and international market penetration. "Our core priority is to deliver sustainable shareholder value while navigating a complex external environment. Global headwinds including rising trade tensions, the introduction of new tariffs, and slower-than-expected biodiesel demand may weigh on commodity sentiment. "However, FGV's diversified operations, strong plantation fundamentals and commitment to integrated value creation position us well to withstand volatility and unlock long-term growth," said Fakhrunniam.
