IPOH – Felda Global Ventures Holdings Berhad (FGV) is not for sale as reported in the media, said its Chairman Tan Sri Shahrir Abdul Samad.
“We will not sell our share in the entity as assets in FGV were ours at one time. We have to look after the interests of the settlers and Felda.
“It does not mean that when we refuse to sell there are no deals or restructuring.
“There are two representatives from Felda sitting on the board of FGV. We asked for three but approval was given for two,” he added.
Shahrir was asked to comment on a foreign news report which reported that talks on the sale to two Indonesian billionaires were suspended following the management crisis in the plantation group.
Martua Sitorus and Peter Sondakh were said to be in advance discussions with FGV and its controlling shareholder Felda, but it was grounded due to boardroom tussle and corruption claims.
Sitorus is the co-founder of Singapore-listed Wilmar International, the world’s largest palm oil processor, while Sondakh controls plantation-to-mining conglomerate Rajwali.
Shahrir had earlier closed a consensus and understanding seminar for Felda Wilayah Trolak Felda settlers here today.
He also explained that Felda holds 730 million units of shares in FGV and the dividends are paid to the settlers and employees.
“If we want to settle our problems, selling the shares is not the solution, but if there are any assets to be liquidated we will do it.
“One example is the sale of the hotel in London as our core business is palm oil production,” he added.