KUALA LUMPUR: It is timely to realise some profits from Felda Global Ventures Holdings Bhd (FGV) shares when the price moves above its holding costs.
In a statement yesterday, Koperasi Permodalan Felda Malaysia Bhd (KPF) said it was also looking to accumulate the shares should the price start to consolidate.
“This is done across our portfolios and not limited to FGV but to any other portfolios as well,” it said.
In a filing with Bursa Malaysia on Wednesday, KPF said it had disposed of 3.77 million FGV shares on Feb 6, leaving it with a direct interest of 5.52%.
Recent sale transactions by KPF have sparked a negative view by the media on FGV. The said transactions were merely trading activity, it said.
Being part of Felda Group, KPF said, it believed that FGV was in good hands under the helm of Datuk Zakaria Arshad, chief executive officer/group president and the management.
“Therefore, KPF is confident that there will be more positive impacts on FGVs performances soon, especially under the current situation where crude palm oil prices have increased to over RM3,000 per tonne, it said.
KPF said it was one of the substantial institutional shareholders in FGV and currently has about 5.8% stake. – Bernama