PAS has asked the Terengganu government to sell off all of its Felda Global Ventures (FGV) shares before their value gets any lower.

According to Naraza Muda, PAS' Felda affairs bureau chief, the state government owns 16,515,000 shares of FGV, initially worth RM75.14 million through two corporations, Yayasan Islam Terengganu and PTB ventures.

Shares which continue to depreciate, being valued at RM1.90 per share, compared to its initial public offering (IPO) price of RM4.55 in 2012.

“If the Terengganu government were to sell all of its current shares in FGV, it would save RM31.38 million and only suffer a loss of RM43.77 million of its initial investment of over RM75 million,” said Naraza in a statement.