FGV Holdings Berhad refers to the article dated 1 February 2019 that appeared in Harian Metro titled ‘Tanda Tanya 600 pekerja – FGV jual tanah seluas 99 hektar di Chuping”.

As stated, the land in question is less than 100 ha and is a leasehold property with about 40 years left on the lease, in Chuping Perlis.

It is idle land and not of productive use or commercial value to FGV. It is not strategically located nor is it contiguous to any of our estate or mill operations. It is not creating any value for our shareholders. There are no factories or FGV’s estate workers on the land as described in the article.

FGV’s Board of Directors has approved the liquidation of Felda Global Ventures Perlis Sdn Bhd that owns the land in question, and will result in the disposal of the 100ha land in Chuping, at the best value, thus open tender was issued.

All processes have been and will continue to be undertaken in a transparent and lawful manner.

Meanwhile, FGV’s listed subsidiary, MSM Malaysia Holdings Berhad, is also in the process of disposing off non-core assets, which includes 4,453.96 ha of land in Chuping, Perlis. This land is cultivated with rubber, oil palm and mangoes. It is unfortunately not strategically located with any of FGV’s current operations.

MSM is still also undergoing all necessary processes in a transparent manner, in full compliance with all relevant laws.

All stakeholders have been and will continue to be engaged in a timely and fair manner.

The end