Business

Published: Thursday February 23, 2012 MYT 1:57:00 PM
Updated: Thursday February 23, 2012 MYT 2:01:05 PM

Listing will bring Felda Global to greater heights, says Dr Mahathir


KUALA LUMPUR: The listing of Felda Global Ventures Holdings Bhd (FGVH) will bring the Felda commercial arm to greater heights with the expansion of its current business and diversification of its business segments, former prime minister Tun Dr Mahathir Mohamad said today.

He said the listing was a great way to inject more capital and investment for the company as well as to ensure the settlers benefit.

"The settlers themselves cannot afford to buy shares and expand the company. So listing is one way to inject more capital and investment.

"At the end, the settlers will be given the same level of dividend. So, there is nothing to lose," he told reporters after lauching the Malaysia OSV Owners' Association (OSV Malaysia) here.

Yesterday, Felda Chairman Tan Sri Mohd Isa Abdul Samad announced a plan to set up a special-purpose vehicle to ensure the settlers benefit directly from FGVH's listing as well as all future profits from the listed business.

Mahathir also said Proton Holdings Bhd's transfer of ownership from Khazanah Nasional Bhd to DRB-Hicom Bhd will be completed by next month.

He said by the given timeline, the new leadership will also be finalised.

"As for now, the new management has not been decided.

"We (Proton) are still in the midst of the transfer process to the new company as there are certain takeover codes which have to be complied with.

"I think by March we should have completed the transfer of ownership to the new management," he said.

Asked as to whether former Proton chief executive officer, Tengku Tan Sri Mahaleel Tengku Ariff would make a comeback as the company's new chairman, Dr Mahathir said as far as he is concerned, "there is no confirmation."

The current chairman, Datuk Seri Nadzmi Salleh had earlier also indicated to the local media, his willingness to lend a helping hand to Proton's new owner.

On this, Mahathir said: "Whether he is to be retained, is not for me to decide. It is for the new owners to make that decision."

Khazanah sold its 42.7 per cent equity interest to DRB-Hicom, citing the company's capital base and experience in the automotive industry.

Nadzmi was one of the bidders for the stake. - BERNAMA

  • E-mail this story
  • Print this story
  • Bookmark and Share