KUALA LUMPUR, Aug 5 (Bernama) -- The rise and fall in the share price of elda Global Ventures Holdings Bhd (FGVH) on Bursa Malaysia is normal, said Felda Group Chairman, Tan Sri Isa Samad.
He said settlers and other shareholders had been advised of this situation and he was confident that their own confidence in FGVH will not affected as a result of any fall in the share price.
"The recent dip in the FGVH share price to the RM5.00 level was influenced by the recent decline in the global price of palm oil, which also affected other plantation companies," he added.
He was speaking to reporters after a FGVH breaking fast event with orphans here on Saturday.
He said the regional market is expected to rebound next week and at the same time, this positive development, will influence the FGVH share price.
"I believe with the planning we have undertaken, FGVH will be very much better in the future," he added.
Isa also said described the negative reports on some blogs in Malaysia on the share as without basis and with a hidden agenda.
As of 5 pm on Friday, the FGVH share price, stood at RM5.05. FGVH which was listed on June 28 was floated at RM4.55 per unit, and reached RM5.50 in the earlier part of the week's trading, before hitting a downtrend.
On the breaking of fast event, Isa said it involved 50 selected orphans from the Sentul district.