Disposal of non-core assets boosting FGV


KUALA LUMPUR: Shares of FGV Holdings Bhd rose 3% in Tuesday morning after it identified several non-core assets worth RM350mil for disposal.


The planter added 3.05%, or 2.5 sen to 84.5 sen with 10.2 million shares traded.


FGV Holdings Bhd has identified RM350mil worth of non-core assets for sale as part of its ongoing transformation plan and pledged to plug leaks that would save the company RM150mil this year.


However, it said the detailed announcements will only be made at the appropriate time.


The group has also identified several areas for the development of strategic alliances or partnerships to capitalise on its strengths and plug capacity gaps.


The company would announce the appointment of its new GCEO in the next few days, who would lead the transformation plan to turn the company around.


Stock on the Move , FGV