PETALING JAYA: The Federal Land Development Authority’s (Felda) financial position deteriorated after the listing of Felda Global Ventures Holdings Bhd (FGV), now renamed as FGV Holdings Bhd, in June 2012.

The White Paper issued yesterday showed the loss-making Felda’s income was impacted, as FGV was unable to contribute an estimated income of RM800mil a year as expected before the initial public offering (IPO).

Felda was impacted by the losses and impairments in FGV and also the latter’s investment of RM1.6bil in PT Eagle High Plantations Tbk (EHP), including foreign-exchange losses in 2017.

The report stated that FGV’s several other decisions had a negative impact on it.

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