FELDA GLOBAL VENTURES TO LIST SUGAR UNIT ON MAIN BOARD IN JULY, SAYS PM NAJIB

KUALA LUMPUR, April 12 (Bernama) – Felda Group’s commercial arm, Felda
Global Ventures Holdings Sdn Bhd, will list its sugar business -- Malayan Sugar
Manufacturing Co Bhd on the Main Board of Bursa Malaysia (Malaysian stock
exchange) in July, Prime Minister Datuk Seri Najib Tun Razak announced Tuesday.

The first ever within the Felda Group, the listing would enhance Felda’s
leading position in the sugar industry, providing the group with an opportunity
to gain recognition in the capital markets and allowing it to realise its
investment while retaining control of its asset, he said.

"This means investors will be able to participate in a key industry, and it
is a very positive development for the government’s objective of promoting
Malaysia’s capital markets," Najib, who is also Finance Minister, said at the
Invest Malaysia 2011 conference here.

Also present at the function were Mohamed Dzaiddin Abdullah, chairman of
Bursa Malaysia, Dr Zeti Akhtar Aziz, Bank Negara Malaysia (Malaysia's central
bank) Governor, Zarinah Anwar, chairman of Securities Commission, Megat
Zaharuddin Megat Mohd Nor, chairman of Maybank Goup, Tajuddin Atan,
the new chief executive officer of Bursa Malaysia and Abdul Wahid Omar, the
chief executive officer of Maybank Group.

Federal Land and Development Authority (FELDA) acquired Malayan Sugar and
related businesses from PPB Group Bhd for RM1.25 billion last year.

Felda Group is Malaysia’s dominant sugar producer controlling 70 per cent of
the domestic market.

Both Felda Holdings, a unit of Felda, and Felda Global have 50-50 equity in
Kilang Gula Felda Perlis Sdn Bhd, while Felda Global owns 100 per cent of MSM.

Najib said that every listing was good for the Malaysian market.

"Every big listing is even better, attracting interest from domestic and
foreign investors alike, as the huge oversubscription rates for Malaysia Marine
and Heavy Engineering Sdn Bhd and Petronas Chemicals Group - 28 times and 17
respectively – attest."

Today, the Petronas Group accounts for over 10 per cent of Bursa Malaysia's
total market capitalisation, standing as a proud example of the government’s
commitment to reducing its presence in business activities that were best left
to the people who do them best, said Najib.

In line with the aspirations set out in the New Economic Model, the
government, Malaysia’s state owned investment fund Khazanah Nasional Bhd and
other government-linked investment companies (GLICs), are gradually divesting
their non-core holdings and non-competitive assets, including 26 parcels of
government land.

At least 10 companies earmarked for divestment are expected to complete the
process by the end of this year.

In addition, four lots of Government land are being sold, with estimated
proceeds in excess of RM1 billion, he said.