Parliament: FGV share price fall claims untrue, says Razali

The company's shares closed at RM1.50 on Sept 30 last year, he said.

"After the financial results were announced, FGV shares rose to RM2 on Nov 6, 2015.

"At end-2015, the shares were at RM1.71, clearly showing they had not gone down compared to before the third quarter results were announced," he said in a written reply to Datuk Seri Abdul Hadi Awang (PAS-Marang) at Dewan Rakyat on Tuesday.

Abdul Hadi had wanted to know the reasons for the fall in FGV's share price based on the company's reported pre-tax loss of RM62.43 million in the third quarter of 2015.

Razali, who is also Muar Member of Parliament, said the FGV Board of Directors had announced a dividend of 2 sen a share for 3,648,151,500 shares involving a total payout of RM72.96 million for the third quarter ended Sept 30, 2015.

For the same quarter, FGV posted revenue of RM4.5 billion, up 18 per cent over the corresponding quarter in 2014, he said.

"Due to the fall in global crude palm oil prices, higher fair value charge on FGV's Land Lease Agreement (LLA) and foreign exchange losses amid the fall in the ringgit's value, the company recorded a pre-tax loss of RM52 million," he said.