A deepening crisis at state-owned plantation group Felda is shaping up into the first of many financial bailouts facing Malaysia's Pakatan Harapan (PH) government in the coming months as it moves to fix a troubled public sector.
FGV Holdings, Felda's subsidiary which listed on the Malaysian stock exchange in June 2012, declared a net loss of RM1.08 billion (S$359 million) at end-December last year, a sharp reversal from a net profit of RM130.9 million it declared in 2017, the company announced last week.
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