FGV Holdings, one of the world’s biggest palm oil producers, said on Monday that its delisting from the Malaysian bourse will allow it to operate with greater agility and align more closely with its major shareholder.
Its current operations, stakeholders’ commitments, and community-focused initiatives will continue as planned with no disruption to business activities, the company said in a statement.
FGV will officially delist from the main board on August 28 after 12 years as a publicly listed company. The company was taken over by a state-owned body, the Federal Land Development Authority (Felda), after it had gained more than 90% of the company’s shares required for a takeover.
“This is a strategic move that strengthens our alignment with Felda. It positions us to focus on sustainable growth, operational excellence, and long-term value creation for our stakeholders,” said group chief executive officer Fakhrunniam Othman.
“We remain fully committed to moving forward together with Felda for the benefit of our employees, settlers, and the communities we serve,” he added.
Reuters
