KUALA LUMPUR, April 9 — The Federal Land Development Authority (Felda) expressed hope for subsidiary FIC Properties to conclude its acquisition of a 37-per cent stake in PT Eagle High Plantations Tbk by the end of the month.
Felda chairman Tan Sri Shahrir Samad told the New Sunday Times and Berita Harian in an interview that the purchase into one of Indonesia’s largest palm oil companies from the Rajawali Group was Putrajaya’s initiative to strengthen Malaysia’s palm oil industry.
“In facilitating this Eagle High deal, the government has channelled loans of up to RM2.5 billion to FIC Properties,” Shahrir was quoted saying.
“This deal does not incur any funding from Felda. It will not negatively impact Felda’s financial state,” he added.
Last January, national news agency Bernama reported Shahrir as defending Felda’s agreement with the Rajawali Group to acquire the 37 per cent stake for US$505.4 million (RM2.26 billion), saying that the valuation was not solely based on stock prices but potential revenue.
