KUALA LUMPUR (Oct 31): Shares of plantations behemoth Felda Global Ventures Holdings Bhd (FGV) pared some of their losses in the morning session today, after denying the existence or plans to form a steering committee. The Edge weekly had today reported a handful of high-ranking government officials are planning to propose the formation of a steering committee at Felda Global Ventures Holdings Bhd (FGV), citing industry sources. “FGV’s Memorandum and Articles of Association also do not contain any provision for the formation of a steering committee to be placed above the Board of Directors,” it said. Felda settlers are dominant in 54 parliamentary constituencies, which make up almost a quarter of the country’s 222 constituencies. The Edge said it tried to contact some of individuals in the steering committee, but they were not available for comment.

Source: The Edge Markets October 31, 2016 06:22 UTC