PASIR GUDANG, Jan 9 – Felda Global Ventures Holdings Sdn Bhd (FGVH) will be listed either in April or May this year, said Deputy Minister in the Prime Minister’s Department Datuk Ahmad Maslan.
He said the listing would be carried out upon advice made by the merchant bankers appointed in the initial public offering (IPO) exercise.
Three foreign and two local merchant bankers are currently undertaking studies to determine “the appropriate” time for the listing.
Upon completion of the studies, the bankers would forward their findings and recommendations to the Felda board of directors to decide on the listing date.
“No outside elements or interference by other third parties can thwart the proposed listing of FGVH as planned by the Government,” he said.
Ahmad spoke to reporters after launching the joint “Eyes and Sea” maritime community project by the Malaysian Maritime Enforcement Agency (MMEA) and the Johor Bunkering Services Association (J-Bunker) at Tanjung Langsat Port near here today.
Ahmad also said the current sovereign debt crisis plaguing the Eurozone and the slowdown in theUSeconomy would not stop FGVH from going public on Bursa Malaysia this year.
“Right now, many of the settlers are not really aware of how the IPO will take place, and it is the duty of the Felda management to go out to explain to them,” he added.
Ahmad explained that the listing would not undermine the rights of the Felda settlers and staff as a whole as it only involves the leasing of Felda-owned land to FGVH.
He hoped that settlers would not easily believe the claims made by certain quarters opposing the listing that they (the settlers) would lose everything in the exercise.
The 224,000 settlers, who are also the main shareholders of Koperasi Permodalan Felda, should see FGVH’s listing as a windfall for them, he added.