Felda settlers make up the majority of FGV’s shareholders.

The takeover must therefore ensure that profits are shared with those involved through reasonable terms and not just be for the personal agenda of any quarter, the caucus chairman Razali Idris said.

This includes ensuring that the offer price of RM1.30 per share is compatible with the current market price, he said in a statement today.

At the same time, he said, the caucus wanted the relevant parties to ensure that the takeover would be the catalyst to Felda’s progress through the creation of high-income jobs and large-scale economy.

Also important were upgrading education and training, empowering the settlers and their children, and developing entrepreneurship skills among the second and third generations of Felda settlers.

“Felda also needs to ensure that the settlers and company assets continue to be protected from being manipulated by greedy traders, foreign conglomerates and parties who would take the opportunity to reap the profits of the organisation,” he said.

“The caucus also hopes that in the interest of the 112,638 settlers and two million Felda citizens, the takeover of FGV will be carried out smoothly, harmoniously and properly,” he said.

It was reported that Felda had acquired another 1.65 million shares of FGV from the open market at an offer price of RM1.30 per share on Feb 4.

The company had announced its takeover bid on Dec 8, 2020, after purchasing 222.48 million shares in FGV (6.1%) held by the Retirement Fund (Incorporated) and 283.71 million shares in FGV (7.78%) held by Urusharta Jamaah Sdn Bhd worth RM658 million.

As of Jan 29, Felda held 68.76% in FGV.