Home › Business › Business News
Friday, 5 July 2013
KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) hopes to start operation of its natural rubber (NR) processing plant in Myanmar this year, says chief executive officer-designate Mohd Emir Mavani Abdullah.
Besides the processing plant, the group also planned to develop a complete supply chain of its three core businesses palm oil, sugar cane and rubber in Myanmar.
Mohd Emir said on Friday FGV, which was studying over 12 acquisition proposals in Malaysia and overseas, was expected to announce the decision soon.
He said the group was cautious on the acquisitions as it considered its palm oil business as a long-term investment.
"We are careful and cautious on how we acquire our upstream assets. They will go through various processes of evaluation, from our management to our investment committee and later the board for valuation.
"We will acquire the best of the 12 that can give the best value to our shareholders," he told reporters after awarding nine scholarships worth RM7 million to students, here on Friday.
It was reported that FGV will use its RM6.2 billion cash pile for merger and acquisition exercises.
The nine students, selected from a total of 4,947 applications received this year, received full scholarships to pursue their studies abroad at top public and private universities in UK.
The scholarships cover financial support, including tuition fees, living allowances, books allowances, thesis and practical training allowances. - Bernama
Premature to talk about financials
Only 4,000 SMEs registered for GST
Attractive MJC City offers at property roadshow
Clicking for consumables
Local bio-tech firm working to find algae-based alternative to fossil fuels
Economic troubles ahead but most don’t think it will be as bad as back then
UOA’s Jalan Ipoh development is being planned to emulate the success of Bangsar South
GST and the sandwich class
Unravelling Felda’s investments
Ladies, time to stand up and fight for your man
Looking out for your ears
The Hobbit: The Battle Of The Five Armies
North Korea denies hacking Sony, U.S. stands by its assertion
Disastrous Dortmund end year with loss at Bremen
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)