FGV shares up after Felda denies stake sale

PETALING JAYA: Shares of Felda Global Ventures Holdings Bhd (FGV) rose marginally by 0.59% yesterday after Felda Land Development Authority (Felda) brushed off rumours of stake sale in FGV.
The counter rose one sen to close at RM1.70 on some 8.21 million shares traded, giving it a market capitalisation of RM6.2 billion.
Felda chairman Tan Sri Shahrir Abdul Samad reiterated that it has no plans to sell an FGV stake to anybody.
This follows media reports on Wednesday that FGV had terminated plans to sell its stakes to two Indonesian tycoons – Martua Sitorus and Peter Sondakh – following its boardroom tussle, which saw the the suspension of its president and CEO Datuk Zakaria Arshad and the resignation of chairman Tan Sri Mohd Isa Abdul Samad.
Felda owns a 33.66% stake in FGV.