Felda Free To Determine FGV’s Direction After Delisting – PM Anwar

KUALA LUMPUR, Aug 2 (Bernama) -- 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 Dr 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