FGV falls 5% as EPF ceases to be substantial shareholder

KUALA LUMPUR: Shares in Felda Global Ventures Holdings Bhd (FGV) fell 8 sen, or 4.94% in the morning session after the Employees Provident Fund (EPF) said it no longer has any stake in FGV. 

At 12.30pm, FGV fell 8 sen to RM1.54 with 6.98 million shares exchanged. It warrants likewise fell after the most recent news. 

"We regard the perspectives of our shareholders and we are discerning of their right to purchase or offer our shares according to their speculation needs," FGV aggregate president and CEO Datuk Zakaria Arshad said in an announcement on Friday. 

"FGV might proceed with our emphasis on center business, enhancing profitability of existing resources and stripping non-center advantages for convey comes back to shareholders and satisfy our commitment to our partners. 

"We keep on doing this while sticking to the pertinent administration strategies in a straightforward and capable way," Zakaria said. 

He included that the gathering was immovable in its dedication to the above to open our maximum capacity and convey esteem to FGV shareholders. 

"We will keep on engaging with EPF and the contributing group to redesign on our business change advance. 

"We join EPF in asking our partners and the general population everywhere to allude their inquiries specifically to our individual associations and not to be misdirected by web-based social networking and unverified online sources," Zakaria said. 

It has been accounted for that the EPF no longer has any stake in FGV. The store additionally affirmed that the RM6.5bil advance taken by Felda Holdings Bhd is not in default and that Felda keeps on adjusting the advance. 

"The EPF might want to guarantee all individuals that we hone exclusive requirements of corporate administration, with hearty arrangements on hazard control and on our key resource portion. 

"Starting today, the EPF no longer holds any shares in FGV," it said in an inner explanation that became a web sensation yesterday.

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