Latest news with #FederalLandDevelopmentAuthority
The Star
5 days ago
- Business
- The Star
Trading ideas: MBSB, FGV, Malakoff, Berjaya Land, Solarvest, Deleum, CIMB, Compugates, Sersol, Poh Kong
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. MBSB Bhd has approved Islamic financing facilities totalling RM180.0mn for Mag Holdings Bhd to strengthen its operations across the halal aquaculture value chain. The Federal Land Development Authority today said it has dispatched the offer documents for its plan to privatise FGV Holdings Bhd , with the offer closing at 5pm on 7 July 2025, unless extended. Malakoff Corporation Bhd 's unit Malakoff Radiance Sdn Bhd has teamed up with New Energy Asia Sdn Bhd to jointly deploy electric vehicle charging infrastructure. Berjaya Land Bhd has signed a memorandum of understanding with Sweden-based SIBS Sdn Bhd to deliver climate-resilient modular housing in Greenland. Solarvest Holdings Bhd has, via a joint venture company, secured a 25-year power purchase agreement with the government of Brunei to invest in, build, and operate a 30MWac solar photovoltaic power plant. Deleum Bhd , through its indirect unit Deleum Oilfield Solutions (Thailand) Co Ltd, is buying Thailand-based MPC Future Co Ltd's oilfield service assets and business for RM60.0mn through a combination of cash and share issuance in a subsidiary. Former head honcho of Securities Commission Malaysia, Datuk Syed Zaid Albar will take over as group chairman of CIMB Group Holdings Bhd from Tan Sri Mohd Nasir Ahmad, effective 20 July 2025. Compugates Holdings Bhd executive director See Thoo Chan has acquired 7.1mn shares or 0.12% stake in Compugates for RM106,299. He now holds a direct interest of 7.9%. Sersol Bhd 's executive director Datuk Mohamed Suffian Awang has reemerged as the company's largest shareholder, after acquiring a 13.7% stake. Poh Kong Holdings Bhd 's 3QFY25 net profit came in almost unchanged at RM47.6mn compared to RM47.7mn a year ago mainly due to higher income tax and operating expenses.
The Star
6 days ago
- Business
- The Star
Felda dispatches offer documents for FGV privatisation plan, closing july 7
KUALA LUMPUR: The Federal Land Development Authority (Felda) today said it has dispatched the offer documents for its plan to privatise FGV Holdings Bhd , with the offer closing at 5 pm on Monday, July 7, 2025, unless extended. In a filing with Bursa Malaysia, Felda said the offer, made via Maybank Investment Bank, will remain open for acceptance until the first closing date or such later date as may be determined and announced by Maybank on its behalf. The offer forms part of Felda's unconditional voluntary takeover bid to acquire all remaining FGV shares at RM1.30 each. Despite holding a collective 82.34 per cent stake through Felda and its subsidiary, Felda Holdings Company Sdn Bhd, the agency said it has limited influence over FGV's management as it does not control the board. "Upon successful privatisation, Felda will be better positioned to enhance FGV Group's operational and financial efficiencies by streamlining its upstream and downstream plantation operations. "Accordingly, Felda is offering holders the opportunity to realise their investment in the offer shares for cash at the offer price, representing a 9.91 per cent premium over the six-month volume-weighted average market price of RM1.1828 as at the latest practicable date (LPD),' it added. The latest bid, launched on May 26 at RM1.30 per share, mirrors Felda's earlier, unsuccessful attempt to privatise FGV in 2020. That year, Felda triggered a mandatory takeover offer after increasing its stake in FGV from 33.66 per cent by acquiring shares from Retirement Fund Inc (KWAP) and Urusharta Jamaah for RM658 million. FGV, which debuted 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. - Bernama
The Sun
10-06-2025
- Business
- The Sun
Felda elevates Qurban with tech, sustainable methods
KUALA LUMPUR: The Federal Land Development Authority (Felda) Group has raised the bar for systematic and sustainable qurban practices with its Qurban Berkat 2025 programme, which incorporates modern technology, structured management and environmentally conscious methods. Led by Felda Waqaf chief executive officer Hisyam Ahmad, this year's programme saw the sacrifice of 19 cattle. Seven were slaughtered manually at Dewan Perdana Felda while another 12 via machine-assisted methods at the Shah Alam Veterinary Abattoir. Cold-chain logistics, including the use of refrigerated trucks, ensured the meat remained fresh and hygienic throughout distribution, a move Hisyam said enhances food safety and supports the programme's scalability. 'This not only saves time but ensures the meat reaches recipients in clean and fresh condition,' he said during the event held at Dewan Perdana Felda, here today. Also present at the event was Felda chairman Datuk Seri Ahmad Shabery Cheek. Hisyam said the initiative also went fully digital this year, with all announcements, wakalah confirmations, invoicing and qurban e-certificates issued online. 'With the improvements made, we believe that Qurban Berkat 2025 programme will serve as a benchmark for systematic, professional and inclusive implementation of the qurban ritual,' he said. Beyond operational upgrades, Hisyam noted that the programme also reflects unity and compassion across the Felda Group, with participation from 14 subsidiaries, cooperatives and surau. He expressed gratitude to donors and participants, volunteers and staff, as well as livestock suppliers from the Chuping Livestock Integration Centre (PITC) for their support and high-quality cattle. 'This programme is not only a religious obligation, but a symbol of community care and a reminder that even during difficult economic periods the spirit of sacrifice endures,' he said.
The Sun
10-06-2025
- Business
- The Sun
Felda sets new benchmark with modern, eco-conscious qurban ritual
KUALA LUMPUR: The Federal Land Development Authority (Felda) Group has raised the bar for systematic and sustainable qurban practices with its Qurban Berkat 2025 programme, which incorporates modern technology, structured management and environmentally conscious methods. Led by Felda Waqaf chief executive officer Hisyam Ahmad, this year's programme saw the sacrifice of 19 cattle. Seven were slaughtered manually at Dewan Perdana Felda while another 12 via machine-assisted methods at the Shah Alam Veterinary Abattoir. Cold-chain logistics, including the use of refrigerated trucks, ensured the meat remained fresh and hygienic throughout distribution, a move Hisyam said enhances food safety and supports the programme's scalability. 'This not only saves time but ensures the meat reaches recipients in clean and fresh condition,' he said during the event held at Dewan Perdana Felda, here today. Also present at the event was Felda chairman Datuk Seri Ahmad Shabery Cheek. Hisyam said the initiative also went fully digital this year, with all announcements, wakalah confirmations, invoicing and qurban e-certificates issued online. 'With the improvements made, we believe that Qurban Berkat 2025 programme will serve as a benchmark for systematic, professional and inclusive implementation of the qurban ritual,' he said. Beyond operational upgrades, Hisyam noted that the programme also reflects unity and compassion across the Felda Group, with participation from 14 subsidiaries, cooperatives and surau. He expressed gratitude to donors and participants, volunteers and staff, as well as livestock suppliers from the Chuping Livestock Integration Centre (PITC) for their support and high-quality cattle. 'This programme is not only a religious obligation, but a symbol of community care and a reminder that even during difficult economic periods the spirit of sacrifice endures,' he said.
New Straits Times
26-05-2025
- Business
- New Straits Times
Felda launches RM1.30-a-share takeover offer for FGV, eyes full control
KUALA LUMPUR: The Federal Land Development Authority (Felda) has launched an unconditional voluntary takeover offer to acquire all remaining shares in FGV Holdings Bhd that it does not already own, as it seeks to regain full control of the plantation company. The offer, made through Maybank Investment Bank Bhd, is priced at RM1.30 per share in cash, the bank said on behalf of Felda in a statement issued to FGV's board. As at May 20, the latest practicable date prior to the notice, Felda directly owns 2.54 billion FGV shares, representing 69.50 per cent of the company's issued share capital. Felda is also acting in concert with Felda Asset Holdings Company Sdn Bhd, its wholly-owned subsidiary, among other parties. Together, Felda and its persons acting in concert collectively hold 86.93 per cent of the voting shares in FGV. The move marks Felda's second major attempt to take FGV private after a similar offer in 2020, also at RM1.30 per share, did not result in full control. FGV's issued share capital currently amounts to RM7.03 billion, comprising 3.65 billion ordinary shares and one special share held by the Minister of Finance Incorporated. "The offer complies with the Capital Markets and Services Act 2007 and the Rules on Take-overs, Mergers and Compulsory Acquisitions issued by the Securities Commission Malaysia," Maybank Investment bank said. Earlier, FGV announced that trading in its shares would be suspended all day today, pending a major announcement. FGV's last traded share price was RM1.28, valuing the company at RM4.7 billion. The stock has traded between RM1.17 and RM2.09 since the first privatisation attempt was announced on Dec 8, 2020.
