Felda Global not acquiring Sarawak Plantation


Malaysian palm oil firm Felda Global Ventures Holdings Bhd said today it is not in discussions with any party on acquiring stake in Borneo-based planter Sarawak Plantation Bhd.

The Edge Financial Daily reported earlier that the world’s third-largest palm oil operator was considering taking a “meaningful” stake in Sarawak Plantation, citing financial executives familiar with the deal.

Shares of Felda Global closed 0.2 per cent lower at RM5.02 per share, while Sarawak Plantation ended 0.67 per cent higher at RM3.01. The broader index dropped 0.02 per cent.

Source: Reuters