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FGV Records RM4.19 Billion Revenue for Third Quarter 2016

KUALA LUMPUR, 22 NOV 2016 – Felda Global Ventures Holdings Berhad (FGV) today announced that it recorded RM4.19 billion revenue and RM163 million operating profit for third quarter ended 30 September 2016 (3Q2016).

However, the Group posted a loss of RM23 million compared to PBT of RM108 million in the preceding quarter due mainly to a higher fair value charge on Land Lease Agreement (LLA) of RM105 million compared to RM12 million previously and an unusual stock loss amounting to about RM57 million incurred by a subsidiary of a jointly controlled entity in Turkey of which FGV does not have management control. (more…)

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