FGV, more pain than gain

The plantation group should be delisted as it cannot shake off its stigma as a political entity

IT would appear that the last straw for Felda was when Perspective Lane Sdn Bhd launched an offer to become the single largest shareholder of FGV Holdings Bhd in October last year.

Until then, Felda had been pussy-footing on a move to take FGV private. The innuendo from Felda to take back FGV into its fold was clear. It wanted to terminate a land lease agreement (LLA) between the government-owned authority and the listed company FGV to help it restructure its finances.