KUALA LUMPUR (June 18): FGV Holdings Bhd said it will continue to dispose of its non-core assets with a target of RM150 million sale proceeds this year.
These include the planned sale of Trurich Resources Sdn Bhd and Asian Plantations Ltd (APL), group chairman Datuk Wira Azhar Abdul Hamid told a virtual media conference after the group's annual general meeting today.
However, the board did not dwell on the pricing.
"We are due to complete the Trurich sale very soon. We have the final two interested parties looking at it," said Azhar.
Trurich was previously valued at RM1 billion, but in December 2019, FGV said the asset had deteriorated and it could fetch a lower price.
For APL — which FGV impaired some RM700 million on goodwill in 2018 — the group has seen five interested parties, and is looking forward to complete a sale by year end.
Shares in FGV rose two sen or 1.98% to RM1.03 today, valuing the group at RM3.79 billion.