Settlers Have No Reasons To Reject Felda Global's Listing - Mohd Isa

KUALA LUMPUR -- Felda Chairman Tan Sri Mohd Isa Abd Samad said the settlers had no reasons to reject the listing of Felda Global Ventures Holdings (FGV).

"It's good for the settlers, good for Felda and good for the country," he told reporters here today.

He said the settlers would continue to enjoy all existing benefits such as the 15 percent dividend payout by Koperasi Permodalan Felda, reliefs including the "duit raya" and bonuses.

Felda had implemented 70 to 80 percent of the efforts towards listing of FGV and the banks had already been appointed to handle it, he said.

The discussion with KPF would also continue, he added.

"We've gone to all the 11 regions. We've briefed leaders of the settlers and I think they've started to understand," Mohd Isa said.

The listing was crucial to prepare Felda in facing current and future challenges, he said.

Asked on the move by Gabungan Peneroka Generasi Wawasan Felda Kebangsaan (Gempak) to appoint an external consultant to look into the proposed listing, Mohd Isa said it would not obstruct the listing process.

"It's their right. It's up to them who to appoint. We will continue with what we've done," he said.

Under the proposed listing, Felda settlers would swap their 51 percent stake in Felda Holdings via KPF for a 61 percent control of FGV.

KPF owns 51 percent in Felda Holdings while FGV holds the remaining 49 percent.

-- BERNAMA