Is Felda Still Pushing For Privatisation of FGV?

Despite high palm oil prices and record profits, it continues to buy more shares on the open market in an apparent attempt to privatise FGV on the cheap.

Is Felda Still Pushing For Privatisation of FGV?


The Federal Land Development Authority (Felda) has remained silent following the expiration of its third six-month special exemption from Bursa Malaysia for the 25% public shareholding spread in FGV Holdings Bhd on August 3, 2022.

Despite high palm oil prices and record profits, it continues to buy more shares on the open market in an apparent attempt to privatise FGV on the cheap.

Felda's shareholding in FGV was 82%, far short of the 90% required to trigger the compulsory share acquisition and take the country's largest crude palm oil (CPO) producer private, according to news reports.

Hive, LockBit and BlackCat Consecutively Attack the Same Network, Sophos Reports
The whitepaper further outlines additional cases of overlapping cyberattacks, including cryptominers, remote access trojans (RATs) and bots.

This was the result of Felda's failed RM1.30 per share privatisation, which began in December 2020 and ended in March last year.

Prior to the exercise, a rumour circulated in October 2020 that Felda intended to cancel the Land Lease Agreement (LLA) with FGV and that the Cabinet had given its approval. This rumour caused the FGV share price to drop even further to 70 sen.