The listing of Felda Global Ventures Holdings (FGVH) on the main market of Bursa Malaysia is expected to take place in April next year, says Felda Global group president, Datuk Sabri Ahmad.
He said FGVH had picked five investment banks, two local and three international, to manage the listing process.
"Felda has elected Maybank, CIMB, Morgan Stanley, JP Morgan and Deutsche Bank to undertake the listing process and secure the best value from the exercise," he added.
He was speaking at a media conference at the Felda Biotechnology Centre at Bandar Enstek, in Nilai, Negri Sembilan today.
Sabri said Koperasi Permodalan Felda (KPF), comprising Felda settlers, and which now has the biggest interest in Felda, will reap enormous benefits through the listing. He said to enable the settlers to own shares traded, FGVH will assist them, including providing the "pink form" for the purchase process.
"This listing will become a new income source for the settlers, as they will have a profit through dividend remuneration, apart from the yields from their plantations," he added.
Sabri also denied that the listing involved leasing the settlers land, explaining that it only concerned, what was owned by Felda.
For the record, Felda owns more than 360,000 hectares of land. The 112,635 settlers have more than half a million hectares.
Meanwhile, Felda Global today announced an important find in the oil palm industry's efforts towards overcoming Ganoderma or better known as Basal Stem Rot disease. Sabri said, Felda Global's Research and Development subsidiary, Felda Agricultural Services Sdn Bhd, had succeeded in creating the world's first marker to identify oil palm trees affected by the disease.
"The Ganoderma molecular marker system is an early attempt to prevent the start of infection. With the presence of this system, the grading programme for oil palm trees, can be more systematically implemented," he added.
The Ganoderma fungus can have a serious impact on the life of an oil palm along with its fresh fruit yield. -- Bernama
He said FGVH had picked five investment banks, two local and three international, to manage the listing process.
"Felda has elected Maybank, CIMB, Morgan Stanley, JP Morgan and Deutsche Bank to undertake the listing process and secure the best value from the exercise," he added.
He was speaking at a media conference at the Felda Biotechnology Centre at Bandar Enstek, in Nilai, Negri Sembilan today.
Sabri said Koperasi Permodalan Felda (KPF), comprising Felda settlers, and which now has the biggest interest in Felda, will reap enormous benefits through the listing. He said to enable the settlers to own shares traded, FGVH will assist them, including providing the "pink form" for the purchase process.
"This listing will become a new income source for the settlers, as they will have a profit through dividend remuneration, apart from the yields from their plantations," he added.
Sabri also denied that the listing involved leasing the settlers land, explaining that it only concerned, what was owned by Felda.
For the record, Felda owns more than 360,000 hectares of land. The 112,635 settlers have more than half a million hectares.
Meanwhile, Felda Global today announced an important find in the oil palm industry's efforts towards overcoming Ganoderma or better known as Basal Stem Rot disease. Sabri said, Felda Global's Research and Development subsidiary, Felda Agricultural Services Sdn Bhd, had succeeded in creating the world's first marker to identify oil palm trees affected by the disease.
"The Ganoderma molecular marker system is an early attempt to prevent the start of infection. With the presence of this system, the grading programme for oil palm trees, can be more systematically implemented," he added.
The Ganoderma fungus can have a serious impact on the life of an oil palm along with its fresh fruit yield. -- Bernama
