FGV winds up 2 of its companies

PETALING JAYA: FGV Holdings Berhad has liquidated two companies in its stable — Felda Engineering Services Sdn Bhd and Felda Properties Sdn Bhd .FGV currently has about 100 companies, of which 93 are active and operational, though several are not profitable or well-managed.

Since FGV’s listing in 2012, Felda’s subsidiary, Felda Investment Corp , has undertaken much of the work previously undertaken by Felda Engineering and Felda Properties. “FGV was in discussions with Felda for almost a year, from February 2018, and also with the settlers’ cooperative, Koperasi Permodalan Felda Malaysia Berhad , from November 2018, on the possible takeover of Felda Engineering and Felda Properties,” it said in the statement.Pursuant to the planned liquidation of the two companies, FGV has offered severance packages to a total of 135 employees, in accordance with Malaysia’s labour laws and regulations.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Security company ready to deploy bomb-sniffing dogs at places of worshipPETALING JAYA: A licensed security company is ready to deploy bomb-sniffing dogs to any religious institution within 48 hours to beef up security after places of worships were advised to take precautionary measures following bomb blasts in churches and hotels in Sri Lanka. While our dog busy sniffing around, our politician is busy shaking hand with those accuse of terrorism. Zakir Naik or Zakar Naik? What is the meaning of 72 virgin for a detonated body?
Source: staronline - 🏆 4. / 75 Read more »