KUALA LUMPUR, May 3 — FGV Holdings Bhd (FGV) is liquidating two companies by end-2019 as part of its transformation programme and the renewed focus on efficiency, accountability and profitability.
In a statement today, FGV said the two companies that will be liquidated are Felda Engineering Services Sdn Bhd and Felda Properties Sdn Bhd, neither of which are part of its core business.
Felda Engineering and Felda Properties were incorporated in 1994 and 1995, respectively, mainly to support internal housing and construction projects for the Federal Land Development Authority (Felda).
However, FGV said neither Felda Engineering, which is a project management company nor Felda Properties have undertaken much work outside of the Felda Group and FGV.
“FGV has about 100 companies, of which 93 are active and operational, although several are not profitable or well-managed,” it added. — Bernama
