We refer to FGV Holdings Berhad's ("FGV" or the "Company") circular to shareholders dated 28 April 2021 (the "Circular") in relation to the proposed renewal of shareholders’ mandate and proposed new shareholders’ mandate for recurrent related party transactions (RRPT) of a revenue or trading nature (Proposed Mandate). The Proposed Mandate was approved by the shareholders of FGV at its 13th Annual General Meeting held on 23 June 2021.
In compliance with Paragraph 10.09(2)(e) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (Listing Requirements) and Paragraph 2.5 of Practice Note 12 of the Listing Requirements, FGV wishes to announce that the following transactions have exceeded 10% of the estimated value as disclosed in the Circular:
Recipient
|
Provider
|
Nature of RRPT
|
Estimated value as disclosed in the Circular (Estimated Value) (RM'000)
|
Actual value transacted (RM'000)
|
Variation between actual value and Estimated Value (RM'000)
|
Reason for the variation
|
|
|
|
|
|
FGV Group
|
Koperasi Permodalan FELDA Malaysia Berhad (KPF)-Linked Subsidiaries (1)
|
Purchase of fresh fruit bunches (FFB)
|
145,000
|
183,268
|
38,268
|
The actual average price of FFB per metric tonne (MT) was higher due to uptrend market price as compared to the estimated price per MT used to calculate the Estimated Value
|
|
FGV Group
|
Federal Land Development Authority (FELDA) Group of Companies, KPF Related Corporations (2)
|
Purchase of FFB
|
4,136,000
|
6,785,871
|
2,649,871
|
The actual average price of FFB per MT was higher due to uptrend market price as compared to the estimated price per MT used to calculate the Estimated Value
|
FGV Group
|
FGV Trading Sdn Bhd
|
Provision of raw materials, sale of palm oil products
|
2,839,000
|
3,691,840
|
852,840
|
The actual average commodity price per MT was higher due to uptrend market price as compared to the estimated price per MT used to calculate the Estimated Value
|
KPF-Linked Subsidiaries
|
FELDA Group of Companies
|
Lease of land having lease/rental period of more than 3 years on pro-rated monthly or annual instalments basis
|
13,600
|
17,005
|
3,405
|
Late receipt of invoices from FELDA due to finalisation of rental agreement which require its board approval
|
|
Legend:
(1) FGV's subsidiaries in which KPF has effective shareholding, other than via FGV, of 10% or more
(2) KPF and its subsidiaries
This announcement is dated 16 June 2022.