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NEWS UPDATES Asean Affairs     7 October  2011                    

Felda group may list

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The Malaysian market is fielding a rumor that Felda Group's commercial entity will seek listing on Bursa Malaysia, a move that could potentially create the world's largest listed plantation company.

Felda Global Ventures Holdings Sdn Bhd and Felda Holdings Bhd which are collectively known as Felda Global Group are cash-generating units of the Federal Land and Development Authority (Felda).

The Felda Group has a staggering plantation size of 850,000 hectares.

Its closest rival is Sime Darby Bhd with a plantation land bank totalling 647,373ha in Malaysia and Indonesia (excluding its recent 63-year concession to develop 220,00ha in Liberia, West Africa for palm oil and rubber plantations).

In terms of annual crude palm oil (CPO) production, Felda produces about 3 million tonnes while Sime Darby manages 2.4 million tonnes of the world's total CPO production every year.

An industry source said the potential listing could be any one of the major commercial bodies, namely Felda Global Ventures or Felda Holdings, or both.

Felda Holdings had previously been identified for a listing but it never materialised.

He pointed out that the successful listing of Felda Group's sugar unit MSM Malaysia Holdings Bhd in June could be spurring Felda to list its main commercial assets.

Felda Global Group president and chief executive officer Datuk Sabri Ahmad said recently that Koperasi Permodalan Felda (KPF), which is owned mostly by the settlers, had made a paper gain of RM300mil from the MSM IPO from its 20 percent stake in the latter.

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