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FGV revamo will provide bright future – Najib

KUALA LUMPUR, June 19 : The restructuring of the Felda Global Ventures Holdings Bhd (FGV) will provide a bright future for the investment company which engages in the oil palm plantation, sugar refining, manufacturing, and logistics businesses.

“This restructuring reflects the government’s desire to put FGV on a strong foundation in terms of management,” Prime Minister Datuk Seri Najib Tun Razak said in his blog, najibrazak.com, today.

He said it was an unanimous decision and Tan Sri Isa Samad agreed to resign as Chairman of FGV and Tan Sri Dr Sulaiman Mahbob was appointed Acting Chairman with immediate effect.

On Datuk Zakaria Arshad, the group president and CEO of FGV and three others, Najib said, the internal investigation conducted would be fair.

“I wish to stress that the investigation does not mean they are guilty, it is part of the corporate governance principles listed company and after it is completed, the board will make a decision FGV in a fair manner,” he said.

Meanwhile, Zakaria, in a statement today, said he will abide by the recommendations from Datuk Seri Idris Jala’s report, including the appointment of Sulaiman as Acting Chairman.

“With regards to the Domestic Inquiry which was initiated by Isa Samad, I am confident I shall be proven innocent.

“Henceforth, I have engaged Tan Sri Muhammad Shafee Abdullah to be my legal counsel to attend to the matter,” he said.


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