Termination Of Agreement Bursa

However, the announcement did not reveal that Felda had to pay FGV due to LLA`s termination. As a reminder, last Wednesday, the Minister at the Ministry (Economy) of the Prime Minister, Datuk Seri Mustapa Mohamed, announced that the cabinet had approved the recommendation to end feldas LLA with FGV. The announcement was followed last Friday by a media briefing in which Tan Sri Abdul Wahid Omar, chairman of the special task force in charge of restructuring Felda, announced that Felda was interested in taking over all palm oil mills from FGV in addition to ending the LLA. It has been five days since the Prime Minister`s Ministry announced that the cabinet had given permission to end the LLA. KUALA LUMPUR (November 2): FGV Holdings Bhd has not received any termination of the lease (LLA) from its majority shareholder, the Federal Land Development Authority (Felda). Nevertheless, some analysts see an opportunity to turn the page, as the group can use the remuneration of the termination of LLA to acquire assets. FGV said in a filing in Bursa Malaysia that its chairman, Mr. Azhar Abdul Hamid Felda, had written about it, Datuk Seri Idris Jusoh, and informed its controlling shareholder that the official termination of the LLA was still not imminent. Recent developments will lead to a yield vacuum for FGVs, given that 70% of its plantations are currently under LLA. FGV shares fell 2.83%, or three Sen, to RM1.03, which valued the plantation group at RM3.76 billion.

3.74 million actions were carried out. In a separate filing, the planter also announced that Mohd Hassan Ahmad, 48, had resigned as a non-independent, non-executive director after leaving Minister of Finance Inc.`s representative on the group`s board of directors. FGV said Azhar also offered to end all other press releases on this subject and have a discussion before issuing a joint statement on the agreed terms in accordance with the terms of the LLA. . . .