FELDA acted as intermediary for the Malaysian government in the acquisition of Indonesian oil palm planter, PT Eagle High Plantations Tbk (EHP).

Its chairman, Shahrir Abdul Samad, said Felda was selected because of its expertise in managing oil palm plantations.

“We are representing the government of Malaysia at two levels – the management and board of directors of EHP,” he told reporters after the launching of Felda D’Saji’s 14th branch in Bangi today.

He said Felda had been allocated two seats on the board of directors.

“We have one person posted in Jakarta permanently. He was a former employee of Felda Global Ventures Holdings Bhd (FGV) and is being tasked with RSPO (Roundtable on Sustainable Palm Oil) and investor relations on behalf of EHP.

“He has been there about a month, representing the investment of the government of Malaysia.”

Shahrir said Felda was also looking into the possibilities of venturing into the downstream business in Indonesia through EHP.

Felda, through Felda Investment Corporation, concluded the acquisition of a 37% stake in EHP from Rajawali Group in a deal worth RM2.26 billion in April. – Bernama, August 9, 2017.