Prime Minister Najib Abdul Razak today urged the shareholders of Felda Global Ventures Holdings Bhd (FGV) not to be swayed by those instigating them to oppose the proposal to purchase PT Eagle High Plantation.

According to Najib, FGV shareholders should be rational in making the decision, and that they should not miss out on the golden opportunity to purchase PT Eagle shares.

"It's up to the Felda community to make decision at the FGV annual general meeting and the shareholders to decide on the matter," he said.

"We should think rationally. Do not be affected by any party that tries to instigate, so that the good thing becomes something bad. And their right becomes useless," he said.

"A wrong decision may cause you to miss a golden opportunity that may not knock again in the future," Najib said at Felda's Hari Raya open house in Putrajaya today.

On June 12, FGV announced that it plans to acquire a 37 percent stake in PT Eagle, Indonesia's third largest plantation firm, from Rajawali Capital Group at a price of US$680 million.

Najib said the Felda community would gain a huge profit if the cooperation between FGV and PT Eagle High worked out, said Najib.

"This is the reason we consider the cooperation between FGV and Eagle High, and we will look into this in detail.

PM confident of a win-win formula

"I am confident FGV and Felda will gain a huge profit if we are able to find a win-win formula," he said.

Then, the Felda settlers may owe the government a favour, he hoped, and went on to urge the parties to carry on with the PT Eagle High deal to support the successes achieved by FGV.

"Hopefully, we will support the success of Felda. Don't let what we have built be destroyed just because some refuse to defend the necessities taken by the government all this while," Najib said.

"If we feel the kindness of Felda and the government, then we are obliged to defend the success of Felda, so that this can be continued and benefit their offspring. They will excel in the future," said Najib, who won a big applause from the crowd.

FGV's shares plunged sharply following its announcement in June to acquire the 37 percent stake in PT Eagle High, with analysts and opposition lawmakers voicing concern that the proposed price was 71 percent higher than the market price.

CIMB Securities opined then that FGV needed to fork out US$174.5 million in advance, or 23 percent of the proposed price.