FGV to Felda: Stop press releases, discuss land lease agreement together

 

FGV Holdings Bhd wants the Federal Land Development Authority (Felda) to stop issuing statements to the media on the issue of the land lease agreement (LLA) and come to the table to discuss the matter.

FGV said it has yet to receive a written notice from Felda regarding the LLA termination and Felda's intention to take over FGV's palm oil mills nationwide.

FGV said its chairperson Azhar Abdul Hamid today wrote to his Felda counterpart 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 chairperson Abdul Wahid Omar announced on Oct 30 the plan to buy FGV's mills located on LLA land.

Meanwhile, regarding an article in The Edge that said Felda had opposed a proposed injection of plantation assets by Syed Mokhtar Albukhary into FGV, FGV said its directors received a letter from Idris.

The letter stated 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 by 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 of whether Central Sugar Refinery Sdn Bhd (CSR), which is parked under PLSB, was part of the plantation assets to be injected into FGV.

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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