ID :
374862
Tue, 07/21/2015 - 05:45
Auther :

Malaysia's Felda Positive On FGV's Investment In Indonesia

PORT DICKSON (Negeri Sembilan, Malaysia), July 21 (Bernama) -- The Felda Land Development Authority (Felda) is positive of the prospects of the collaboration between its corporate entity, Felda Global Ventures Holdings Bhd (FGV), via the proposed acquisition of a 37 per cent equity stake in PT Eagle High Plantations (EHP). Felda Chairman, Mohd Isa Abdul Samad, said EHP acknowledged that Felda has the expertise in oil palm plantation. "If we can work with EHP, it means that we can collaborate with them on the development of their 420,000 hectares," he told reporters here Monday. Isa was commenting on FGV's proposed acquisition in 37 per cent stake in EHP that is involved in oil palm planting from the Rajawali Group. The acquisition will also pave the way for FGV to enter into the sugar industry in Indonesia. The deal, according to Isa, will provide the avenue for the marketing of FGV products such as cooking oil. "We are waiting for the views from third parties on this matter which would be brought up in the extraordinary general meeting next month for approval for the purchase of EHP equity stake," he said. Felda is the foremost land development agency in Malaysia. --BERNAMA

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