Felda eyes RM1b asset sale to repair confidence
Lawmakers, analysts say firm overpaid in purchase of 37% stake in Eagle High Plantations for US$680m
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Kuala Lumpur
FELDA Global Ventures Holdings Bhd plans to raise more than RM1 billion (S$356 million) selling non-core assets as the world's biggest crude palm oil producer focuses on plantations to repair investor confidence dented by an acquisition.
Unprofitable crushing and refining businesses in the US and Canada that have drawn initial bids ranging from US$180 million to US$250 million may be sold later this month, chief executive officer Mohd Emir Mavani Abdullah said in an interview. Holdings in a travel firm, and engineering and information technology units may fetch another RM300 million, he added.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
