Malaysia's FELDA hires CIMB, Maybank for sugar IPO

KUALA LUMPUR: The investment banking arms of Malaysian lenders CIMB and Maybank will manage the $200 million-$300 million initial public offering of Malayan Sugar Manufacturing, the sugar processing arm of the federal land authority, Thomson Reuters publication IFR reported.

Felda Global Ventures, the holding company which runs the commercial businesses of Malaysia's Federal Land and Development Authority (FELDA), is also planning to divest a "handful of other businesses" although no further IPOs were expected this year, said IFR.