“This idea was discussed at one of Felda’s Labs, but only the Felda top management was there and the FGV management was not involved. FGV, one of the world’s largest crude palm oil producer and is the listed entity of Felda, is tasked to generate business and earn income for the agency by selling palm oil and its related products. The listing of FGV raised RM10.5 billion in 2012, making it the world’s second largest initial public offering (IPO) after Facebook. Felda is the biggest shareholder with a 32.42 per cent equity in FGV of which 20 per cent is held in trust for settlers. FGV was listed with an IPO price of RM4.55, but things took a turn for the worse right after gradually weakening to RM1.70 mainly due to weak crude palm oil prices.

Source: New Strait Times January 09, 2017 06:10 UTC