12 Jul 2013 11:19

(Correcting headlines and intro, shd read "Risda not ready yet for listing")

PUTRAJAYA, July 9 (Bernama) -- The Rubber Industry Smallholders Development Authority (Risda) is not yet ready to be listed on Bursa Malaysia, says Minister for Rural and Regional Development, Datuk Seri Mohd Shafie Apdal.

He said it was difficult to list Risda and its subsidiaries as much of the land under management was owned by smallholders.

"But, we do not exclude the possibility of doing so, and even allocated RM200 million last year to purchase land. It will be easier for Risda to go for a listing if it owns the land," he told a media conference after officiating the opening of the Risda Biotechnology Complex here today.

He was responding to a question on the possibility of Risda following in the footsteps of Felda Global Ventures Holdings (FGV), which was listed on the main board of Bursa Malaysia last year.

Mohd Shafie said Risda would undertake a more detailed study on the matter with the current unstable market proving to be unproductive for it.

"FGV is different from Felda as it has its own steady and mature synergy. This does not mean we cannot look deeper into the matter from the aspect of a partnership with the smallholders," he added.

He said the interest of the smallholders community was still a priority.

"We are chasing profits, but in the end, what matters is the ability to stabilise the income of the smallholders," Shafie added.