Felda Global Ventures may well become an election stock - again
THE debut of Felda Global Ventures (FGV) on the Malaysian stock exchange over four years ago - the world's third-largest stock offering that year - was hailed as the brightest spot in Asia's colourless listing scene then. It was also meant to woo Malaysian voters' ahead of a hotly-contested elections. Now, the company has, well, turned on its "kernel".
The showing by the stock of one of the largest oil palm plantation operators in the world has been nothing short of drab soon after its spectacular first-day pop of 20 per cent in June 2012.
The counter lost half its value in two years and in 2015, got the boot from the revered status of being an index constituent of a primary benchmark for the Malaysian market.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push
Hermes Q1 sales jump 17% on strong China demand