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Felda offer of RM1.30 a share for FGV not fair, reject offer

’s five non-interested directors say the Federal Land Development Authority’s (Felda) offer of RM1.30 a share as not fair and advised minority shareholders to reject the offer.
In their recommendation on Friday, they said they have “not concurred” with RHB Investment Bank’s independent advice to accept the offer.
The non-interested directors are Datuk Yusli Mohamed Yusoff; Datuk Mohd Anwar Yahya; Datin Hoi Lai Ping; Dr Mohamed Nazeeb, P. Alithambi and Dr Nesadurai Kalanithi.
However, RHB Investment Bank said the offer is “not fair but reasonable”. It said the offer was not fair as the offer price of RM1.30 per offer share is lower and represents a discount of between 12 sen (8.5%) and 30 sen (18.8%) over the range of estimated value per FGV share derived using the sum-of-parts valuation method of between RM1.42 and RM1.60.

Kuala-lumpur , Malaysia , Mohamed-nazeeb , Datin-hoi-lai , Nesadurai-kalanithi , Datuk-mohd-anwar-yahya , Datuk-yusli-mohamed-yusoff , Land-development-authority-felda , Holdings-bhd , Investment-bank , Federal-land-development-authority , Datin-hoi-lai-ping