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Friday, July 29, 2016

FGV says not aware of potential suitors

Felda Global Ventures Holdings Bhd (FGV) says it is not aware of any potential suitors either from Tradewinds Group or other companies.
“Any interest is a testament that FGV is a world class company with a positive outlook,” said FGV in a statement today.
The plantation group was commenting on a news report by an English daily that FGV has attracted suitors who are looking at a possible corporate exercise with the plantation group.
The report said the exercise could, likely be, a strategic investment company affiliated with the Tradewinds Group, which is mulling over a stake purchase in FGV.

“We continue to focus on maximising our internal capabilities and ensuring profitable growth through initiatives such as reducing our production and operational costs,” said FGV in its reply today.
FGV said it was commited to capitalise and leverage its existing assets, optimise current investments and streamline complexity in its processes.
“The goal is to get the most from past investments and improve our profitability by the end of 2016,” said the plantation group.

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