FGV Holdings ‘unaware’ of any talks involving Syed Mokhtar

PETALING JAYA: Plantation and agribusiness giant FGV Holdings Bhd told the stock exchange today that it is unaware of any proposals and discussions about tycoon Syed Mokhtar Al-Bukhary buying a stake in the group.

“FGV wishes to clarify that after checking with its Board of Directors and Senior Management, it is unaware of the proposals and discussions described in (news) articles,” the group said in a filing with Bursa Malaysia.

“FGV strives to create value for its stakeholders and explores all opportunities that would benefit the group and its shareholders,” it added.

On Sunday, prime minister Dr Mahathir Mohamad was reported as saying he was not aware of any discussions of a third-party acquisition of FGV shares. “If there was a discussion, probably it was between Felda and Syed Mokhtar. It is Felda’s job, not mine,” he told the press in Langkawi, Bernama reported.

In September, The Edge business weekly reported that Syed Mokhtar was developing a plan to take a 20% stake in FGV and eventually take control, and that his representatives had been working on securing more than RM1 billion in funding.