FGV wants Felda to stop media releases, discuss land lease agreement matter with it

Felda Special Task Force chairman Tan Sri Abdul Wahid Omar announced the plan on Oct 30.— Picture by Ahmad Zamzahuri
Felda Special Task Force chairman Tan Sri Abdul Wahid Omar announced the plan on Oct 30.— Picture by Ahmad Zamzahuri

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KUALA LUMPUR, Nov 2 — FGV Holdings Bhd wants the Federal Land Development Authority (Felda) to stop issuing further statements to the media on the issue of the land lease agreement (LLA), saying it has yet to receive a written notice from the latter regarding the LLA termination and its intention to take over FGV’s palm oil mills nationwide.

The plantation company said its chairman, Datuk Wira Azhar Abdul Hamid, today wrote to Felda chairman Datuk Seri Idris Jusoh informing him that the notice to terminate the LLA was not forthcoming up to this date.

“(Azhar) suggested (for) Felda to stop any further media releases on this matter and to discuss prior to releasing a joint statement on the agreed terms in accordance with the terms and conditions of the LLA,” it said in a filing with Bursa Malaysia today.

Felda Special Task Force chairman Tan Sri Abdul Wahid Omar announced the plan on Oct 30.

Meanwhile, regarding an article published by The Edge Malaysia which said Felda had opposed Tan Sri Syed Mokhtar Albukhary’s proposed injection of plantation assets into FGV, FGV said the individual directors of FGV did receive a letter from the Felda chairman stating that Felda’s board of directors would not support any proposal which would result in the dilution of its shareholding in FGV.

On the expression of interest from investment holding company Perspective Lane (M) Sdn Bhd (PLSB) on Oct 15 to participate in FGV via an injection of plantation assets in exchange for shares, FGV said PLSB did not mention whether the plantation assets it intended to inject into the company were parked under Tradewinds Plantations Bhd.

There was also no mention whether Central Sugar Refinery Sdn Bhd (CSR), which is parked under PLSB, was part of the plantation assets to be injected into FGV, the palm oil giant said.  

PLSB is a wholly-owned unit of Syed Mokhtar’s privately-held Restu Jernih Sdn Bhd. Tradewinds Plantation and CSR are both owned by PLSB. — Bernama

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