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KUALA LUMPUR, Dec 5 — Prime Minister Datuk Seri Anwar Ibrahim revealed today that he spoke to tycoon Tan Sri Syed Mokhtar Al-Bukhary about the latter’s perceived monopoly of...
KUALA LUMPUR (March 8): FGV Holdings Bhd said it will not be pursuing a proposal by Perspective Lane (M) Sdn Bhd, a company controlled by tycoon Tan Sri Syed Mokhtar Albulkhari, to inject its plantation assets in exchanges for shares. The group said its directors have decided not to pursue the proposal any further, in view of the takeover offer by the Federal Land Development Authority (Felda) to acquire the remaining stake in FGV. Last October, FGV had received an expression of interest from Perspective Lane “to participate in FGV via an injection of plantation assets into FGV, for sha...
has formally turned down an offer from Tan Sri Syed Mokhtar Albukhary to inject his plantation assets into the company for new shares. The tycoon, via his investment vehicle Perspective Lane (M) Sdn Bhd (PLSB), had made the offer to acquire a major stake in FGV via a letter dated Oct 12, 2020. ""The Board of Directors of FGV wishes to announce that this proposition will not be pursued any further due to the unconditional mandatory take-over from Maybank Investment Bank Bhd on behalf of Federal Land Development Authority (Felda) to acquire all the remaining ordinary shares in FGV which are no...
The plantation group should be delisted as it cannot shake off its stigma as a political entity IT would appear that the last straw for Felda was when Perspective Lane Sdn Bhd launched an offer to become the single largest shareholder of FGV Holdings Bhd in October last year. Until then, Felda had been pussy-footing on a move to take FGV private. The innuendo from Felda to take back FGV into its fold was clear. It wanted to terminate a land lease agreement (LLA) between the government-owned authority and the listed company FGV to help it restructure its finances. The agreemen...
THE Federal Land Development Authority (FELDA) and its subsidiary FGV Holdings Bhd being in the news is nothing new, but things have picked up a few notches with tensions simmering between the two, culminating in the former wanting to end its land lease agreement with the listed unit. Then this month, FELDA said it wanted to take FGV private. Here are the main newsmakers in the FELDA-FGV saga. Business tycoon and philanthropist Businessman Tan Sri Syed Mokhtar Albukhary has been on The Edge’s newsmakers list every year for the past 15 to 20 years at least, with his vast empire of compani...