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Question marks as Indo market speculates Felda raising Eagle High stake
Published:  Jun 14, 2017 4:37 PM
Updated: 9:21 AM

Questions abound amid Indonesia market speculation that Felda is seeking majority stake of Eagle High Plantation, after securing 37 percent of the firm in April - chief of which, said PKR vice-president Rafizi Ramli, is where the federal agency intends to find the funds for the purchase, after having to take out a loan to buy the initial 37 percent.

"I want (Prime Minister) Najib Abdul Razak and (Felda chairperson) Shahrir Samad to clarify if it is true that Felda intends to own parts of PT Eagle High which it is yet to own by making a general offer.

"At the price paid by Felda before, obtaining another 30 percent would see another RM2 billion of Malaysian funds injected into the Indonesian plantation firm.

"The most crucial question is where this money will come from, given Felda's severe financial standing, that it has been forced to sell off assets such as its stake in Maybank?" he asked in a statement today...

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