FGV to raise RM1bil from non-core asset sale


Emir: ‘Eagle High offers access to the Indonesian downstream, fertiliser and seedling markets.’

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) plans to raise more than RM1bil selling non-core assets as the world’s biggest crude palm oil producer focuses on plantations to repair investor confidence dented by an acquisition.

Unprofitable crushing and refining businesses in the US and Canada that have drawn initial bids ranging from US$180mil (RM686mil) to US$250mil (RM953mil) may be sold later this month, chief executive officer Emir Mavani Abdullah said in an interview. Holdings in a travel firm, and engineering and information technology units may fetch a further RM300mil, he said.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Business , felda , eagle high , emir , FGV , stocks , shares , Indonesia ,

Next In Business News

Genting to be included in three FTSE4Good indices, effective Dec 22
Vantris Energy posts RM4.27bil quarterly profit following restructuring
EPMB boosts Melaka plant capacity to 30,000 units with Phase 2 launch
Gemas-Johor Bahru double-tracking project proves capability of local workforce
F4GBM Index expands with 26 constituents, F4GBMS Index adds 24
Guan Huat Seng signs IPO underwriting agreement with TA Securities
Ringgit jumps to 4.10 against greenback, highest in four and a half years
Oasis Harvest to acquire 80% of Contagious for RM900,000
Upgrade of Malaysia's illicit finance rating reflects whole-of-nation effort, says BNM Governor
AGX proposes one-for-four bonus issue of 108 million warrants

Others Also Read