PETALING JAYA: FGV Holdings Bhd
, which has reimbursed a total of RM72.2mil to its active migrant workers, is expected to submit a petition to the US Customs and Border Protection (USCBP) in June.
According to Hong Leong Investment Bank Research (HLIB Research), the petition will be submitted following the completion of Lloyd’s Register Quality Assurance’s (LRQA) assessment report, which is likely to be in April 2024.
“While timing of the modification/lifting of the Withhold Release Order (WRO) by USCBP is beyond FGV’s control, management shared it will typically take six to 12 months to review the report and validate the estates,” said HLIB Research.
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