PETALING JAYA: The Federal Land Development Authority’s (Felda) financial position deteriorated after the listing of Felda Global Ventures Holdings Bhd (FGV), now renamed as FGV Holdings Bhd
, in June 2012.
The White Paper issued yesterday showed the loss-making Felda’s income was impacted, as FGV was unable to contribute an estimated income of RM800mil a year as expected before the initial public offering (IPO).
