KUALA LUMPUR: The move to privatise Felda Global Ventures Holdings Bhd (FGV) must be backed by sufficient rationale before the proposal is implemented, said Retirement Fund Inc (KWAP). KWAP chief executive officer Datuk Wan Kamaruzaman Wan Ahmad said any decision to delist the counter from Bursa Malaysia must be justified. “This is because many people have invested in it (FGV), and probably there are people who may lose money. Aside from Felda’s direct 17.29% shareholding, it was reported that Felda Asset Holdings Co Sdn Bhd and Koperasi Permodalan Felda Malaysia Bhd owned stakes of 13.66% and 5.74% respectively in FGV. KWAP itself holds 4.98% of FGV, while Lembaga Tabung Haji (7.78%) and AmanahRaya Trustees Bhd (4.13%) hold the remaining equity.

Source: The Edge Markets January 13, 2017 02:39 UTC