FGV says braced for termination of Felda land lease


FGV Holdings says its plantation supply chain will remain intact after Felda takes back its land as the LLA estates represents only 30% of the fresh fruit bunches that are processed at the group’s 68 palm oil mills. – The Malaysian Insight file pic, October 29, 2020.

FGV Holdings Bhd today said it had yet to receive a written notice from the Federal Land Development Authority (Felda) regarding the termination of its land lease agreement (LLA) but was preparing its businesses and operations for the eventuality.

In a statement, FGV said once it received official notice from Felda as required under the LLA, it will follow the procedures outlined in the LLA to start the process of termination and determining the compensation it was due, which would take 18 months to complete.


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