Shareholders call for resolution to FGV privatisation

THE Federal Land Development Authority (Felda) is silent after the expiry on Aug 3, 2022 of its third six-month special exemption from Bursa Malaysia for the 25% public shareholding spread in FGV Holdings Bhd.

It is continuing to mop up more shares in the open market in an apparent attempt to privatise FGV on the cheap despite high palm oil prices and record profits. It is learned that Felda’s shareholding in FGV stands at 82%, way off the 90% ownership to trigger the compulsory share acquisition to take the country’s largest producer of crude palm oil (CPO) private.

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