Felda impacted by FGV’s poor investments

The board is investigating six matters on FGV

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).