Felda Global May Sell Tradewinds Stake

FELDA Global Ventures Holdings Bhd (FGV) may advertise its 20 per cent pale in Tradewinds (M) Bhd, account an estimated RM551.5 million, to armamentarium approaching acreage expansion.

FGV admiral and arch authoritative administrator Datuk Sabri Ahmad said if the aggregation decides to advertise the stake, the gain will be acclimated in its upstream sector, which is to buy added acreage land.

“However, we will aboriginal appraise the bearings and seek admonition from advance banks afore chief whether to accumulate or advertise the stake.

“We will additionally table the amount at the lath of admiral affair abutting month," Sabri told Business Times over the weekend.

Sabri was commenting on Tan Sri Syed Mokhtar Al-Bukhary’s plan to booty Tradewinds private, of which, sources said, will be restructured into four abstracted entities - rubber, sugar, oil approach and rice.

The humble agent and Malaysia's seventh richest man appear aftermost anniversary he is demography over Tradewinds by alms shareholders RM9.30 for every allotment he does not own in the company.

The accomplished accord is additionally accepted to advance to the privatisation of Tradewinds Plantations Bhd and Padiberas Nasional Bhd (BERNAS).

Tradewinds has stakes in both Tradewinds Plantations and Bernas, which are additionally listed on Bursa Malaysia.

The accomplished accord is accepted to amount RM2.5 billion.

“I anticipate it makes faculty for FGV to advertise the pale rather than accumulate it because at 20 per cent, FGV does not accept administration ascendancy over Tradewinds.

“With gain of over RM550 million, it is bigger for FGV to buy authoritative stakes in abounding added companies,” said a Tradewinds source, who beneath to be named.

According to a account address aftermost week, FGV is accepted to acquire a 188 per cent or RM390.2 actor acknowledgment on advance from its cardinal accretion in Tradewinds in January 2010.

It was additionally appear from January 2010 to date, FGV has accustomed net assets amounting to RM46.3 actor from its 20 per cent disinterestedness in Tradewinds.

Should it adjudge to advertise its absolute pale in Tradewinds at RM9.30 a share, government-linked FGV stands to acquire a asset of RM551.5 million.

The accumulation bought the pale from Grenfell Holdings Sdn Bhd, which is affiliated to the Robert Kuok-controlled PPB Accumulation Bhd, at RM3.50 a share, accretion RM207.5 actor cash.

It is possibly the world's better acreage company, owning over 850,000ha acreage in Malaysia, 500,000ha of which it leases and manages for the country's 112,635 smallholders.