MALAYSIA PRESS-Felda Global to announce first acquisition in 3 months-Malaysian Reserve

Wed Jun 26, 2013 7:48pm EDT

Cash-rich Felda Global Ventures Holdings Bhd (FGVH), the world's third-largest palm oil producer, is evaluating the feasibility of 12 proposals and is expected to announce its first acquisition within three months.

"We received a lot of business proposals, not only in our core business in plantation, but also in the downstream sector.

"We have 12 proposals to be assessed by our investment committee, according to our set procedures on the selection process, to ensure that the proposal is viable," said chairman Isa Samad to the media afters FGVH's annual general meeting in Kuala Lumpur on Wednesday. Isa declined to elaborate on further details of the acquisition.

"Maybe it is in Malaysia and maybe it is outside Malaysia. If the price is good in Malaysia, we will buy in Malaysia and if the price is good overseas then we will buy overseas," said Isa. FGVH has 3.85 billion ringgit remaining from the 4.46 billion ringgit raised from its initial public offer in 2012.

-Malaysian Reserve.

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