KUALA LUMPUR(July 21): The Federal Land Development Authority (Felda) has reappointed Datuk Seri Ahmad Shabery Cheek as chairman, just weeks after announcing that his contract had expired on June 30.
The reappointment confirms an earlier report by The Edge Malaysia Weekly in its July 7–13, 2025, issue, which quoted sources saying that Shabery’s contract was likely to have been extended by six months.
"Datuk Seri [Ahmad Shabery] expresses his appreciation and gratitude to YAB Datuk Seri Anwar Ibrahim, the Prime Minister, for the trust given to continue leading Felda.
"The management and all members of the Felda group welcome this reappointment and are confident that YBhg Datuk Seri Ahmad Shabery Cheek’s experience, vision, and strong commitment will continue to drive the Felda group forward in line with the aspirations of Malaysia MADANI,” Felda said in a press statement on Monday.
However, the press statement did not confirm the length of Shabery's contract extension as chairman.
Ahmad Shabery had initially been appointed to the post on July 1, 2023, marking the former Umno cabinet minister's return to the public spotlight after losing his Kemaman parliamentary seat in the 14th general election in 2018.
Felda is currently in the midst of its plan to privatise FGV Holdings Bhd (KL:FGV).
Felda and its parties acting in concert (PACs), including the Pahang state government and Felda staff cooperative Koperasi Kakitangan Felda Malaysia Bhd (Felkop), launched a takeover offer to privatise FGV on May 26, offering RM1.30 per share.
As of July 3, the offerors collectively held 89.08% of FGV’s shares. The offer’s acceptance deadline was recently extended to Aug 15 from July 7.
The privatisation would enable Felda to restructure FGV behind closed doors. FGV’s 2012 listing was among the world’s largest IPOs that year, raising RM10.5 billion, of which RM4 billion went to the company and the remaining RM6.5 billion to Felda.
However, FGV’s share price has since declined by over 75% from its IPO price of RM4.55. As of Monday (July 21), shares were trading at the offer price of RM1.30, valuing the group at RM4.74 billion.
This marks Felda’s second privatisation attempt, following a failed bid in 2020 at the same offer price, which then saw it owning only 33.66% of the company’s shares.
Felda, established in 1956 as a statutory body to resettle the rural poor through agricultural land schemes, is today one of Malaysia’s largest socio-economic institutions. It operates under the purview of the Prime Minister’s Department, alongside agencies such as Lembaga Tabung Haji, Permodalan Nasional Bhd (PNB) and Petroliam Nasional Bhd (Petronas).