KUALA LUMPUR (March 16): FGV Holdings Bhd said its controlling shareholder the Federal Land Development Authority (Felda) needs more time to formulate a firm plan on the plantation group s listing status.
In the filing with Bursa Malaysia today, FGV noted that it has requested an extension of time to rectify the shortfall in its public shareholding spread, as Felda s shareholding has bumped up to an 80.99% stake after its mandatory takeover offer at RM1.30 per share.
The takeover offer aimed at taking FGV private at RM1.30 per share. The privatisation exercise, however, fell through as Felda did not obtain enough shares to trigger compulsory share acquisition.
PUTRAJAYA: The Perikatan Nasional government’s plan to rehabilitate the Federal Land Development Authority (Felda) is on the right track, says Minister in the Prime Minister’s Department (Economic Affairs) Datuk Seri Mustapa Mohamed.
This included a decision in October last year where Felda would issue a RM9.9bil sukuk and also take back 351,000ha it leased to Felda Global Ventures Holdings Bhd, now known as FGV Holdings Bhd, under its new recovery plan.
He explained that these measures allowed Felda to reduce its debts by allowing the government to acquire FGV shares.
“So debts will be lowered because the interest rate now is lower compared to when Felda acquired those debts. So that addressed the issue of debts, ” he said to reporters during a joint press conference here on Thursday.
Saturday, 20 Feb 2021 09:11 PM MYT
Datuk Seri Idris Jusoh said that the work of installing smart learning and teaching equipment in all the schools involved was running smoothly, although it had previously been delayed due to the implementation of the MCO. Picture by Saw Siow Feng
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BESUT, Feb 20 The Smart Classroom system, which is currently being set up at 101 national secondary schools (SMK) throughout the Federal Land Development Authority (Felda) settlements, is expected to be completed this April.
Its chairman Datuk Seri Idris Jusoh said that the work of installing smart learning and teaching equipment in all the schools involved was running smoothly, although it had previously been delayed due to the implementation of the movement control order.
Felda Smart Classrooms expected to be ready in April 20 Feb 2021 / 21:45 H. Federal Land Development Authority (FELDA) Chairman Datuk Seri Idris Jusoh (left) handing over tablets to students in Besut on Feb 20- Bernama
BESUT, Feb 20: The Smart Classroom system, which is currently being set up at 101 national secondary schools (SMK) throughout the Federal Land Development Authority (FELDA) settlements, is expected to be completed this April.
Its chairman Datuk Seri Idris Jusoh said that the work of installing smart learning and teaching equipment in all the schools involved was running smoothly, although it had previously been delayed due to the implementation of the Movement Control Order.
THE Federal Land Development Authority (FELDA) and its subsidiary FGV Holdings Bhd being in the news is nothing new, but things have picked up a few notches with tensions simmering between the two, culminating in the former wanting to end its land lease agreement with the listed unit. Then this month, FELDA said it wanted to take FGV private. Here are the main newsmakers in the FELDA-FGV saga.
Business tycoon and philanthropist
Businessman Tan Sri Syed Mokhtar Albukhary has been on The Edge’s newsmakers list every year for the past 15 to 20 years at least, with his vast empire of companies and his corporate manoeuvres that involve his two main listed entities, flagship MMC Corp Bhd and DRB-Hicom Bhd.