KUALA LUMPUR: FGV Holdings Bhd’s subsidiary, FGV Integrated Farming Holdings Sdn Bhd (FGVIF), has terminated the conditional shareholders agreement it had signed with Baladna Food Industries W.L.L and Touch Group Holdings Sdn Bhd following the expiration of the period to satisfy the stipulated conditions.
Baladna Food Industries, a wholly-owned subsidiary of Baladna QPSC, is a dairy company from Qatar.
In a Bursa Malaysia filing today, FGV said the termination of the agreement will not have any material impact on FGVIF.
The parties had inked the agreement for the development of an integrated dairy farming business within a 3,259ha area in FGV Chuping Agro Valley, in Chuping, Perlis. The project was expected to involve an investment of up to RM4.5 billion.