KUALA LUMPUR: The fall in the share price of Felda Global Ventures Holdings Bhd (FGV) by almost half from its offer price is due to the declining global crude palm oil (CPO) prices.

Deputy Minister in the Prime Minister's Department Datuk Razali Ibrahim said this had affected the share price because 75 per cent of FGV's business were based on the product.

"FGB cannot compare with Sime Darby Bhd or IOI Corp Bhd because they are much more diversified.

"When the prices drop, of course, they will effect FGV shares. The fall, to me, is quite alarming and sad.

"I hope the shareholders do not sell their shares," Razali said after officiating at National Resilience Seminar 2014, here, yesterday.

He said the shares slide is not due to poor management.

"If it is due to mismanagement, I'm sure you will see some changes now," he said.

FGV shares fell six sen to RM2.21 on volume of 12.28 million units yesterday. Bernama