Seven years ago, Malaysia’s Felda Global Ventures (FGV), one of the world’s largest palm oil producer, acquired 37% shares in PT Eagle High Plantation (BWPT) for US$504.4 million or an enterprise value of US$1.36 billion. BWPT is currently worth Rp1.84 trillion or US$117 million, not even one-tenth of the valuation paid by Felda to Peter Sondakh’s Rajawali Corporation.To subscribe please click here
