Federal Land Development Authority (Felda)

Felda's land lease deal review seen as negative for FGV

SINGAPORE (Apr 15): The Federal Land Development Authority’s planned review of its 99-year land lease agreement (LLA) with FGV Holdings is not expected to work out well for FGV, which is heavily reliant on Felda’s resources.

“It will be negative to FGV’s earnings, should Felda amend the terms in the existing LLA and require FGV to pay a higher lease for the land. But, at this juncture, it is unclear if Felda can amend the terms of the LLA easily,” regional head of plantations research at CIMB Investment Bank Ivy Ng tells The Edge Financial Daily when contacted.

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Felda was cheated in Eagle High purchase, says director general

KUALA LUMPUR (April 9): Federal Land Development Authority (Felda) director-general Datuk Dr Othman Omar had yesterday evening lodged a police report at the police commercial crime unit here, claiming that it was cheated into entering into a "one-sided" deal for the sale and purchase of PT Eagle High Plantations Tbk (EHP), owned by the Rajawali Group, two years ago.

See: KPF’s sale of FGV shares raises eyebrows

Malaysia's special advisory council committed to meet first 100-day promises, says Maybank

SINGAPORE (May 16): The five-member Council of Eminent Persons, a team of special advisors announced by Malaysia’s prime minister Mahathir Mohamad on May 12, has hit the ground running.

Led by former Finance Minister Daim Zainuddin, the council also includes former Bank Negara Malaysia (BNM) governor Zeti Akhtar Aziz, former Petronas chief Hassan Marican, business tycoon Robert Kuok, and esteemed economist Jomo Kwame Sundaram.

Felda to regain $89 mil Jalan Semarak land on dubious transfer deal

KUALA LUMPUR (Dec 21): The Federal Land Development Authority (Felda) is prepared to take all forms of action to regain ownership of the land estimated at RM270 million ($88.8 million) in Jalan Semarak here, following a report that raised questions about the land transfer deal.

Its chairman Tan Sri Shahrir Abdul Samad said apart from the police report lodged on Dec 12, other actions taken were registering a caveat on the land, revoking the power of attorney issued and taking civil action against the parties involved.

Malaysia palm oil giant chairman resigns amid leadership tension

(June 19): The chairman of Felda Global Ventures Holdings Bhd. resigned amid a leadership tussle and graft probe at the world’s biggest crude palm oil producer. Shares in the Malaysia state-linked company rose.

Discontent in Malay heartland may spell trouble for PM Najib

SUNGKAI (Jan 12): The Malaysian plantation district of Sungkai has become an initial - and unlikely - battleground for an election that embattled Prime Minister Najib Razak is expected to call this year.

Sungkai is home to ethnic Malays who work for the national palm plantation operator, Federal Land Development Authority (Felda). Known as "Felda settlers", they have long been among the beneficiaries of government affirmative action programmes for Malays, who form the majority of the population.

No synergy seen in Felda’s Eagle High buy

KUALA LUMPUR (Dec 29): More questions are being raised on the rationale for the purchase of a 37% non-controlling stake by Federal Land Development Authority (Felda) in Indonesia’s PT Eagle High Plantations Tbk as there would be no unlocking of value for Felda. In fact, the US$505.4 million or RM2.26 billion ($732.4 million) investment should be spent on Felda’s locally listed arm Felda Global Ventures Holdings (FGV).

Felda secures Malaysian govt financing for Eagle High stake purchase

KUALA LUMPUR (Dec 29): Malaysia's Federal Land Development Authority (Felda) has secured government financing to fund its US$505.4 million ($732.8 million) purchase of a minority stake in Indonesian palm oil firm PT Eagle High Plantations, state news agency Bernama reported.

In a controversial move, state-owned Felda said last week it would buy a 37% stake in Eagle High, paying a 95% premium its last closing share price at the time.

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