KPF: Timely to realise some profits from FGV shares

It is timely to realise some profits from Felda Global Ventures Holdings Bhd (FGV) shares when the price moves above its holding costs.

In a statement today, Koperasi Permodalan FELDA Malaysia Bhd (KPF) said, it was also looking to accumulate the shares should the price started to consolidate.

"This is done across our portfolios and not limited to FGV but to any other portfolios as well," it said.

In a filing to Bursa Malaysia yesterday, KPF said, it has disposed of 3.77 million FGV shares on Feb 6, 2017 leaving it with a direct interest of 5.52 per cent.

"Recent sale transactions by KPF have sparked a negative view by the media on FGV. The said transactions were merely trading activity," it said.

Being part of FELDA Group, KPF said, it believed that FGV was in good hand under the helm of Datuk Zakaria Arshad, Chief Executive Officer/Group President and the management.

"Therefore, KPF is confident that there will be more positive impacts on FGV's performances soon, especially under the current situation where crude palm oil prices have increased to over RM3,000 per tonne," it said.

KPF said it was one of the substantial institution shareholders in FGV and currently has approximately 5.8 per cent stake.

"The shares are managed under two funds -- 'Held For Trading' and 'Available For Sale'," it said.

It said share trading was one of the KPF's routine activities. --Bernama