Shahrir dismisses Rafizi claim of RM7.8 billion losses if FGV delisted

PETALING JAYA: The warning by PKR MP Rafizi Ramli that Felda would suffer losses of RM7.8 billion if it delisted Felda Global Ventures (FGV) was dismissed by Felda chairman Tan Sri Shahrir Samad.
He said no decision has yet to be made on whether to take FGV off the stock market but Felda is looking at all possible options.
Speaking at a press conference in the BN Backbenchers Council's office in Parliament today, he said as a major shareholder of FGV, Felda's main priority is to see FGV succeed.
The Johor Baru MP said the figure picked out by Rafizi was purely speculative and his mathematics is not proper maths.
Shahrir had earlier handed over RM24,000 to the Tabung Pahlawan (Heroes Fund) for Armed Forces veterans, the accumulated sum is from personal donations by BNBBC members.
In a press conference last week, Rafizi claimed that there would be major losses if FGV is taken off Bursa Malaysia.
He had said the potential losses stem from RM2.9.billion FGV would have to pay out in order to buy back stocks from shareholders; RM2 billion that public funds had lost from the fall in FGV stock prices; and RM2.9 billion FGV has spent for payoffs, loan repayments and other expenses.
Among the major shareholders, besides Felda, are public funds Tabung Haji and Retirement Fund Incorporated, and the Pahang state government.
FGV was listed in 2012 with an initial public offering (IPO) of RM4.55, widely touted at the time as the second biggest in the world.
FGV share prices dropped over the next several years, and at the end of business today, FGV shares ended flat at RM1.75.