Felda's FGV shareholding now over 90pct, plans for delisting

Felda has received valid acceptances for all the remaining ordinary shares in FGV Holdings Bhd and has acquired the offer shares representing 91.73 percent of the total issued shares of FGV as of 5pm.

FGV said in a filing with Bursa Malaysia today that Felda holds more than 90 percent of its shares and does not intend to maintain FGV’s listing status on the Main Market of Bursa Securities.

It added that this offer is still open for acceptance until 5pm Aug 15, 2025, and Felda encourages all shareholders who have not yet accepted the offer to do so before the deadline expires.

“Bursa Securities will suspend the trading of the FGV shares immediately upon the expiry of five market days from the final closing date in accordance with subparagraph 16.02(3) of the Listing Requirements,” it added.

In 2020, Felda triggered a mandatory takeover offer after increasing its stake in FGV from 33.66 percent by acquiring shares from Retirement Fund Inc (Kwap) and Urusharta Jamaah for RM658 million.

FGV, which made its debut in 2012 at RM4.55 a share, raised RM10.5 billion in one of Malaysia’s largest initial public offerings. Its share price has since declined significantly, prompting repeated privatisation efforts.

Felda said the acquisition of FGV shares not only paves the way towards a more sustainable and focused Felda Group, but is also in line with Felda’s aspirations in achieving the Felda Group’s Strategic Plan and Direction 2025-2030.

“This effort is believed to enhance competitiveness and guarantee long-term returns to settlers and all stakeholders,” it added.

Meanwhile, Felda chairperson Ahmad Shabeery Cheek said the agency’s structure will be realigned with FGV’s to eliminate overlapping functions in the future.

“For example, both Felda and FGV have their own hospitality and cooperative departments, each with its chief operating officer (CEO). Do we need separate CEOs for each, or should there be one CEO overseeing both?

“This is an opportunity for us to reorganise and restructure Felda and FGV without being bound by Bursa Malaysia’s regulations. We see this as a crucial step to pave the way for Felda to progress towards a better future,” he told Bernama today.

- Bernama

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