Latest news with #FeldaGroup
The Star
29-07-2025
- Business
- The Star
Felda's shareholding in FGV increases to over 90%, plans for delisting
KUALA LUMPUR: The Federal Land Development Authority (Felda) has received valid acceptances for all the remaining ordinary shares in FGV Holdings Bhd and has acquired the offer shares representing 91.73 per cent of the total issued shares of FGV as of 5pm. FGV said in a filing with Bursa Malaysia today that Felda holds more than 90 per cent of its shares and does not intend to maintain FGV's listing status on the Main Market of Bursa Securities. It added that this offer is still open for acceptance until 5pm Aug 15, 2025 and Felda encourages all shareholders who have not yet accepted the offer to do so before the deadline expires. "Bursa Securities will suspend the trading of the FGV shares immediately upon the expiry of five market days from the final closing date in accordance with subparagraph 16.02(3) of the Listing Requirements,' it added. In 2020, 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 made its debut 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. Felda said the acquisition of FGV shares not only paves the way towards a more sustainable and focused Felda Group, but is also in line with Felda's aspirations in achieving the Felda Group's Strategic Plan and Direction 2025-2030. "This effort is believed to enhance competitiveness and guarantee long-term returns to settlers and all stakeholders," it added. - Bernama
Daily Express
29-04-2025
- Business
- Daily Express
Felda submits strategic plan, 2025-2030 roadmap to Prime Minister
Published on: Tuesday, April 29, 2025 Published on: Tue, Apr 29, 2025 By: FMT Reporters Text Size: On March 26, Prime Minister Anwar Ibrahim was reported to have given Felda a month to submit a new strategic plan and roadmap to ensure a better future for Felda settlers. PETALING JAYA: The Federal Land Development Authority (Felda) has submitted its group strategic plan and 2025-2030 roadmap to Prime Minister Anwar Ibrahim, aimed at strengthening its position as a catalyst of the national economy, especially in rural areas. Its strategic communications department said the plan had been drafted in detail through six rounds of engagement with stakeholders, with a focus on strategic initiatives in various fields, Bernama reported. 'The Felda Group management is committed to ensuring that this plan is implemented with full dedication to form an ecosystem beneficial to all stakeholders. 'This duty requires continued effort and full support from all parties to ensure the development and prosperity of Felda Group,' the authority said in a statement on Monday. The Felda Group management also expressed its commitment to implementing every strategy outlined to ensure the success of a competitive Felda. On March 26, Anwar was reported to have given Felda a month to submit a new strategic plan and roadmap to ensure a better future for Felda settlers. He said the government had been injecting nearly RM1 billion annually into Felda, which needed a 'major transformation'. Stressing that Felda's success was directly tied to Malaysia's economic prosperity, Anwar said this made it all the more crucial for the statutory body to receive 'immediate and strategic' intervention. According to the auditor-general's 2022 report, released in March last year, Felda recorded RM1 billion in losses in 2022, nearly double the RM545 million in losses recorded the year before. The auditor-general said Felda also owed RM8.66 billion to external institutions as of 2022, a slight decrease from the RM8.8 billion owed the year before. It advised Felda to chart a clear direction towards operating without further financial assistance from Putrajaya. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
