Settlers To Benefit From Felda’s Majority Stake In FGV - DPM Zahid
KUALA LUMPUR, Aug 2 (Bernama) -- The Federal Land Development Authority’s (Felda) acquisition of a majority stake in FGV Holdings Bhd (FGV) will pave the way for full ownership and restructuring of the company, and Felda settlers will stand to benefit from the profits, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
Speaking to reporters after attending the Felda Settlers’ Appreciation Ceremony here today, he noted that the Pahang and Sabah state governments have also become shareholders in FGV following the company’s delisting from the Main Market of Bursa Malaysia.
He said the full acquisition process will be finalised by Bursa Malaysia, and the profits thereof will be channelled to the settlers.
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 closes, which falls on Aug 15.
-- BERNAMA