Forty-two subsidiaries of Felda Global Ventures Holdings (FGVH) operating in the country and overseas recorded pre-tax profit of RM366 million for the financial year ended Dec 31, 2010.

Deputy Minister in the Prime Minister's Department Ahmad Maslan said this success refuted the Opposition's claim that Felda's financial standing is in a state of distress.

"We can give guarantee that the 42 subsidiaries of FGVH recorded profit, and this had contributed to FGVH's profit of RM366 million in 2010 fiscal year.

"This is a significant increase as Felda registered pre-tax profit of RM203 million in the previous financial year," he said in Parliament today.

Acknowledging that there are subsidiaries that are not profitable yet, Ahmad lambasted the Opposition who were trying to confuse the public to doubt Felda's ability.

On the listing of FGVH on Bursa Malaysia expected in the middle of this year, he said the evaluation was made based on the economy and strategy.

- Bernama