Latest news with #KPF
New Straits Times
04-08-2025
- Automotive
- New Straits Times
KPF forges strategic partnerships in green economy, agriculture, insurance
KUALA LUMPUR: Koperasi Permodalan Felda Malaysia Bhd (KPF) gas signed a strategic partnership agreement and two collaboration memoranda involving green economy, agriculture and insurance with three strategic partners today. KPF said that the partnership agreement was with Abra Tron Bradbury Sdn Bhd via a special purpose vehicle (SPV) Sustainable Future Sdn Bhd that will implement high-impact sustainable projects, while it will work with Aqina Fruits Sdn Bhd to explore and develop MD2 pineapple planting framework. "The high-impact sustainable projects will encompass four main core areas - electric vehicle management and marketing, industry and fleet management systems, development of renewable energy systems such as solar and biogas farms, sustainable solid waste management and the development of carbon credit system via the Karbonku app," KPF said in a statement today. The collaboration with Aqina Fruits meanwhile will expand the involvement of settlers and encourage the cooperative members' participation in commercial MD2 planting projects, it added. The last memorandum is between KPF subsidiary, KPF Niaga Sdn Bhd and Sejamas Group Sdn Bhd to promote and market Madani Insurance packages, which offer vehicle insurance coverage to KPF members with added value, including free vehicle batteries. "All the initiatives are in line with KPF's aspirations of developing sustainably and proactively, and to support the green agenda, community involvement and the economic well-being of members in a comprehensive manner," the cooperative said. The signing ceremony was officiated by KPF chairman Datuk Mohd Banuri Aris, along with representatives of the companies involved and witnessed by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi in conjunction with the Felda Settlers' Appreciation ceremony at Mega Karnival 3 Dimensi (MK3D) at the Malaysian International Trade and Exhibition Centre (MITEC).
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
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.
