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    FGV   MYL5222OO004

FGV HOLDINGS BERHAD

(FGV)
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FGV Berhad : Update on the U.S. Customs and Border Protection (CBP)'s Withhold Release Order (WRO)

10/20/2021 | 07:21am EST

The Board of Directors of FGV Holdings Berhad (FGV) refers to the Withhold Release Order (WRO) issued by the U.S. Customs and Border Protection (CBP) on 30 September 2020 against palm oil and palm oil products made by FGV and its subsidiaries and joint ventures. This announcement serves as an update on the subject following FGV's statement dated 30 August 2021.

FGV is committed to taking all the necessary steps towards lifting the WRO, including the appointment of an independent auditing firm to conduct an assessment of FGV's operations against the 11 International Labour Organization (ILO) Indicators of Forced Labour, as advised by the CBP.

FGV has identified an independent auditor to carry out the audit work and is currently working with a US-based legal counsel to finalise the terms and conditions for the appointment. In ensuring that the scope and methodology of the audit meet the requirements and expectations of the CBP, FGV foresees a slight delay in the appointment and expects to formalise the appointment by November 2021.

FGV shall make further announcements if there are any material development in respect of this matter.

FGV HOLDINGS BERHAD

Disclaimer

FGV Holdings Bhd published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 11:20:03 UTC.


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Financials
Sales 2021 18 484 M 4 413 M 4 413 M
Net income 2021 558 M 133 M 133 M
Net Debt 2021 - - -
P/E ratio 2021 9,79x
Yield 2021 2,79%
Capitalization 5 472 M 1 304 M 1 307 M
Capi. / Sales 2021 0,30x
Capi. / Sales 2022 0,32x
Nbr of Employees 15 660
Free-Float 8,13%
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Technical analysis trends FGV HOLDINGS BERHAD
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Mean consensus HOLD
Number of Analysts 10
Last Close Price 1,50 MYR
Average target price 1,53 MYR
Spread / Average Target 1,73%
EPS Revisions
Managers and Directors
Mohamed Hairul Abdul Hamid Group Chief Financial Officer
Dzulkifli Abdul Wahab Director
Yusli bin Mohamed Yusoff Deputy Chairman
Mohamed Rafik bin Shah Mohamad Independent Non-Executive Director
Nonee Ashirin Mohamed Radzi Independent Non-Executive Director
Sector and Competitors