The Federal Land Development Authority has managed to control an 81% stake in FGV Holdings Bhd and its affiliates, including Koperasi Permodalan Felda Malaysia Bhd .
In a statement on Tuesday, Felda said 987.3 million shares or 27.1% share were received following the mandatory general offer, while 125.6 million shares were purchased from the open market. Felda chairman Datuk Seri Idris Jusoh said as a subsidiary, this would enable the management of FGV’s land lease agreement estates together with oil palm mills, to be integrated with other Felda estates, rendering them more efficient and effective for mutual benefit.
“Downstream activities will provide higher profit margins and will be able to strengthen Felda’s financial position more sustainably,” he said.
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