FGV shares soar on update by chairman

Bullish outlook: FGV headquarters in Kuala Lumpur. The company estimates that it could earn pre-tax profit of RM1bil per year at an average CPO price of RM2,500 per tonne.

PETALING JAYA: FGV Holdings Bhd shares soared about 13% yesterday after its chairman issued a letter updating shareholders on the status of the company and its plans moving forward.

FGV share price has been under pressure given the slew of bad news surrounding the oil palm plantation giant last year.