FGV’s proposed bonus issue delayed

KUALA LUMPUR: FGV Holdings Bhd’s proposed bonus issue of up to 364.82 million new Islamic redeemable preference shares will be delayed, as its controlling shareholder, the Federal Land Development Authority, asked for more time — until Aug 13 — to secure the cabinet’s approval for the exercise. The bonus issue is on the basis of one Islamic preference share for every 10 ordinary shares in FGV. Under the proposal, the FGV RPS-i is to be quoted and listed separately on Bursa Malaysia’s Main Market, allowing for shareholders to trade the Islamic preference shares.