KUALA LUMPUR: Felda Palm Industries Sdn Bhd, an indirect subsidiary of Felda Global Ventures Holdings Bhd (FGV), is proposing to sell its 30% stake in Taiko Clay Chemicals Sdn Bhd (TCC) for RM145mil.
In a filing with Bursa Malaysia, FGV said the proposed disposal to Orient View Sdn Bhd, which is expected to be completed in the second half of the year, was in line with its 2020 Strategic Plan to divest non-core businesses strategically to maximise shareholder value. TCC manufactures activated bleaching earth and related products as well as sulphuric acid, oleum and battery acid.
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