Latest news with #RM658
The Star
03-08-2025
- The Star
HK recorded 75% rise in in-flight thefts
'CLICK TO ENLARGE' PETALING JAYA: In an update by the Hong Kong Security Bureau to a lawmaker last December, Hong Kong recorded 169 in-flight thefts in the first 10 months of 2024, involving valuables worth HK$4.32mil (RM2.34mil) – a 75% rise compared with the same period in 2023. In Singapore, CNA reported in January that four people were charged with in-flight theft between January 2023 and September 2024. Thefts can be attempted even on short flights, with a Chinese national arrested by Singapore authorities for stealing a credit card and more than RM658 in cash during a night flight from Kuala Lumpur to Singapore in March. According to Selangor police, which is in charge of crimes committed on flights landing at KLIA, 267 police reports were lodged over missing items on flights at KLIA since 2022, with 146 of them reported in 2024. However, only 26 investigation papers were opened because some victims were unsure when their items went missing, while others had continued with their journey to their respective destinations.
Borneo Post
30-07-2025
- Business
- Borneo Post
'FGV takeover a consolidation move'
Ahmad Shabeery during an interview with Bernama. — Bernama photo KUALA LUMPUR (July 30): The takeover of FGV Holdings Bhd by the Federal Land Development Authority (Felda) marks a consolidation move to strengthen its operations moving forward. Felda chairman Datuk Seri Ahmad Shabeery Cheek said the agency's structure will be realigned with FGV's to eliminate overlapping functions in the future. 'For example, both Felda and FGV have their own hospitality and cooperative departments, each with its chief operating officer (CEO). Do we need separate CEOs for each, or should there be one CEO overseeing both? 'This is an opportunity for us to reorganise and restructure Felda and FGV without being bound by Bursa Malaysia's regulations. We see this as a crucial step to pave the way for Felda to progress towards a better future,' he told Bernama on Tuesday. Felda acquired more than 90 per cent of FGVís shares on Tuesday through a voluntary takeover offer. This acquisition is expected to not only open the door to a more sustainable and focused Felda Group but also align with the agency's aspirations in implementing its Strategic Plan and Direction for 2025 – 2030. In 2020, Felda launched the takeover offer after increasing its stake in FGV from 33.66 per cent by purchasing shares from Retirement Fund (Incorporated) (KWAP), which is Malaysia's pension fund for civil servants, and Urusharta Jamaah, an asset management company wholly owned by the Minister of Finance (Incorporated), for RM658 million. FGV, a Malaysian-based global agribusiness and food company, was listed in 2012 at RM4.55 per share. It raised RM10.5 billion in one of Malaysia's largest initial public offerings (IPO). However, since then, its share price has dropped significantly. – Bernama corporate news Federal Land Development Authority FGV Holdings Bhd
Borneo Post
30-07-2025
- Business
- Borneo Post
Felda's shareholding in FGV increases to over 90 pct, plans for delisting
Felda holds more than 90 per cent of FGV's shares and does not intend to maintain FGVís listing status on the Main Market of Bursa Securities. — Bernama photo KUALA LUMPUR (July 30): 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 on Tuesday. FGV said in a filing with Bursa Malaysia that Felda holds more than 90 per cent of its shares and does not intend to maintain FGVís 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
Malay Mail
30-07-2025
- Business
- Malay Mail
Felda takeover of FGV to eliminate overlaps, boost efficiency, says chairman
KUALA LUMPUR, July 30 — The takeover of FGV Holdings Bhd by the Federal Land Development Authority (Felda) marks a consolidation move to strengthen its operations moving forward. Felda chairman Datuk Seri Ahmad Shabeery Cheek said the agency's structure will be realigned with FGV's to eliminate overlapping functions in the future. 'For example, both Felda and FGV have their own hospitality and cooperative departments, each with its chief operating officer (CEO). Do we need separate CEOs for each, or should there be one CEO overseeing both? 'This is an opportunity for us to reorganise and restructure Felda and FGV without being bound by Bursa Malaysia's regulations. We see this as a crucial step to pave the way for Felda to progress towards a better future,' he told Bernama yesterday. Felda acquired more than 90 per cent of FGV's shares on Tuesday through a voluntary takeover offer. This acquisition is expected to not only open the door to a more sustainable and focused Felda Group but also align with the agency's aspirations in implementing its Strategic Plan and Direction for 2025–2030. In 2020, Felda launched the takeover offer after increasing its stake in FGV from 33.66 per cent by purchasing shares from Retirement Fund (Incorporated) (KWAP), which is Malaysia's pension fund for civil servants, and Urusharta Jamaah, an asset management company wholly owned by the Minister of Finance (Incorporated), for RM658 million. FGV, a Malaysian-based global agribusiness and food company, was listed in 2012 at RM4.55 per share. It raised RM10.5 billion in one of Malaysia's largest initial public offerings (IPO). However, since then, its share price has dropped significantly. — Bernama
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
