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BCorp, CScenic, Complete Logistic, Daya Materials, FGV, MyEG, Sime Darby Plantation, Superlon, Time dotCom, Top Glove and United Malacca

KUALA LUMPUR (March 16): Based on corporate announcements and news flow today, companies in focus on Wednesday (March 17) may include: Berjaya Corp Bhd (BCorp), Classic Scenic Bhd (CScenic), Complete Logistic Services Bhd, Daya Materials Bhd, FGV Holdings Bhd, My E.G. Services Bhd (MyEG), Sime Darby Plantation Bhd, Superlon Holdings Bhd, Time dotCom Bhd, Top Glove Corp Bhd and United Malacca Bhd. Berjaya Corp Bhd has appointed Abdul Jalil Abdul Rasheed as its new chief executive officer, the first time someone outside the Tan family will hold the position. The former CEO of Permodalan Nasional Bhd will take over from Datuk Seri Robin Tan, who was promoted to executive deputy chairman of the conglomerate.

Felda acquires more FGV shares as takeover offer period ends

KUALA LUMPUR (March 15): FGV Holdings Bhd said the Federal Land Development Authority (Felda) has bought another 297,800 shares in the company on Friday (March 12). Today is the closing date for Felda’s mandatory general offer to acquire all FGV shares which it does not already own at RM1.30 per share, as it intends to take FGV private.

FGV, Lay Hong, Comfort Gloves, Techfast, BCM, Cypark, Xin Hwa, Axis REIT, Kelington and MAHB

FGV, Lay Hong, Comfort Gloves, Techfast, BCM, Cypark, Xin Hwa, Axis REIT, Kelington and MAHB
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Efforts to rehabilitate Felda on the right track

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.

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