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.