As part of a package of incentives amounting close to RM1.6bil, some 77,934 Felda settlers, who are still paying for loans taken to subscribe for FGV shares during the listing exercise in 2012, will see their amounts outstanding being reduced significantly in a scheme whereby Felda matches their liabilities ringgit-for-ringgit, said an official close to the details.

PETALING JAYA: Settlers’ cost of Felda Global Ventures Holdings Bhd (FGV) shares will be reduced by half following the latest set of measures announced by the Federal Land Development Authority (Felda).

As part of a package of incentives amounting close to RM1.6bil, some 77,934 Felda settlers, who are still paying for loans taken to subscribe for FGV shares during the listing exercise in 2012, will see their amounts outstanding being reduced significantly in a scheme whereby Felda matches their liabilities ringgit-for-ringgit, said an official close to the details.

During the listing in 2012, each eligible Felda settler was entitled to 800 FGV shares at RM4.55 per share. The amount came up to RM3,640.

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