Malay Digest: FGV being kicked out of Bursa is just a speculation

PETALING JAYA: The issue of Felda Global Ventures Holdings Bhd (FGV) being delisted from Bursa Malaysia is just speculation played out by certain individuals to scare Felda settlers.
Felda chairman Tan Sri Mohd Isa Abdul Samad said FGV had never received any letter from Bursa regarding such a move.
"As long as we have not received an official letter from Bursa Malaysia in regard to that matter, FGV stock will still be traded, even if it does not reach the top 30 best companies list," Mohd Isa was qouted by Utusan Malaysia today.
Mohd Isa also reminded the public to refer to previous explanations made by the company on the drop of its share price.
"We have come out with a lot of explanations on why this (drop of stock price) happens to FGV as it based on multiple factors such as decline in revenue due to oil palm replanting activities nationwide.
About 75% of FGV income comes from the farming activities," Mohd Isa was quoted by the Malay daily.

About 53% of the FGV's oil palm plantation area, which is about 347,000 hectares, are about 18 years old and the company is currently emphasising on its replanting programme where they target to replant 15,000 hectares each year.
Mohd Isa added the price of palm oil is determined by the global market where the current situation does not only affect the company but all farming industries in the nation.