Felda Global firm on its IPO path, says its president and CEO

KUALA LUMPUR (Dec 27): Felda Global Ventures Holdings Sdn Bhd (FGVH)
president and chief executive officer Datuk Sabri Ahmad said plans are
on track for its initial public offering in April 2012.

In a
statement Tuesday he said the company was firm in its mission to get
listed on the Main Market of Bursa Malaysia within this time frame.

Sabri's statement followed the setting-up of Gabungan Peneroka Generasi
Wawasan Felda Kebangsaan or GEMPAK,''which announced it had formed an
evaluation committee to analyse the listing of FGVH and would come up
with a recommendation to be presented to the Prime Minister.


'While we are open to ideas that can improve the listing process or
optimise valuations, the board of FGVH is resolute in its mission to get
the company listed by April next year.

'There is no wavering on
our part and we are very clear as to how this listing will bring
benefits and create a win-win situation for all," he said.

Sabri
said FGVH was fully owned by Lembaga Felda and the decision for
Koperasi Permodalan Felda, the Felda cooperative, to own substantial
shares in FGVH prior to listing was designed to allow benefits to
directly flow down to Felda settlers, all of whom are members of the
cooperative.

He also said FGVH's listing could not be held up by
outside parties who had no stake in the company nor any kind of
standing in its governance.

'"Our decision to list is well
thought out. It is the culmination of a process started in 2009 as part
of Felda's five-year transformation programme. FGVH's role is to expand
Felda's international business footprint and pursue new ventures to
ensure steady growth.

'Outside parties cannot upturn these plans
to serve their own agenda and the FGV board is sticking to its plans
for the listing," he said.