KUALA LUMPUR: The Federal Land Development Authority’s (Felda) acquisition of a 91.73% stake in FGV Holdings Bhd will ensure full ownership and restructuring, with profits directly benefiting settlers, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
Speaking after the Felda Settlers’ Appreciation Ceremony, Zahid highlighted that the Pahang and Sabah state governments have also become shareholders following FGV’s delisting from Bursa Malaysia’s Main Market.
“The full acquisition process will be finalised by Bursa Malaysia, and the profits will be channelled to the settlers,“ he told reporters.
FGV announced the stake acquisition in a Bursa Malaysia filing on Tuesday. Trading of FGV shares is expected to be suspended five market days after the offer closes, which falls on Aug 15. - Bernama