20/10/2011 (The Sun Daily) - Federal Land Development Authority (Felda) Holdings Bhd has shortlisted 15 investment banks to undertake the listing exercise of Felda Global Ventures Holdings Sdn Bhd (FGVH), said its Chairman Tan Sri Isa Abdul Samad.

"The final decision will be made this week," he told reporters after a briefing on the subsidiary's initial public offering (IPO) exercise.

It is believed that four investments banks comprising two local and two international banks would be required to handle the IPO which would be among the top ten listing exercises undertaken in the country.

Isa said the IPO would be launched around mid next year.

The listing of FGVH on Bursa Malaysia to raise funds and make it a global conglomerate was announced by Prime Minister Datuk Seri Najib Abdul Razak during the tabling of the 2012 Budget earlier this month.

Asked on the feedback from the leaders of the settlers, Isa said a three-hour information session on the listing move had resulted in support for the listing exercise.

"They hope that FELDA would be able to go on the field and explain to some of the leaders of the settlers at grass roots level, so that they can get a better picture," he said.

"There have been also suggestions from some of the women leaders that if there is to be any cash dividend, it should be equally divided between husband and wife," he said.

FGVH together with FELDA Holdings which are collectively known as FELDA Global Group are cash-generating units of FELDA.

The group has a staggering plantation size of 850,000 hectares.

Its closest rival is Sime Darby Bhd with a plantation land bank totalling 647,373 ha in Malaysia and Indonesia.

This however excludes Sime Darby's recent 63-year concession to develop 220,00ha in Liberia, West Africa as oil palm and rubber plantations.

In terms of annual crude palm oil (CPO) production, FELDA produces some three million tonnes while Sime Darby manages 2.4 million tonnes. – Bernama