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Court rejects counter claim by 5 FGV ex-directors

The proposal being considered by FGV Holdings is part of its plan to achieve sustainable growth.

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KUALA LUMPUR — Nov. 8, 2019: A counter claim filed by five former non-executive directors of FGV Holdings against the company and 10 others over alleged losses incurred in the purchase of a plantation company in 2014 has been struck off by a court today.

Judge Datuk Azimah Omar decided on this after allowing an application by FGV and 10 others to strike out the counter claim jointly filed by Tan Sri Ismee Ismail, Tan Sri Wan Abdul Aziz Wan Abdullah, Tan Sri Sulaiman Mahbob, Datuk Nozirah Bahari and Datuk Fazlur Rahman Ebrahim.

The five former directors filed the counter claim after FGV had sued them for RM514 million over losses incurred by the company following the acquisition of Asia Plantation Ltd.

Lawyer Andrew Chiew Ean Vooi for FGV told reporters that Azimah ruled the counter-claim as baseless. She also ordered the five to pay cost of RM8,000 to FGV and set January 14 for case management of the suit by FGV.

The five former FGV non-executive directors filed the counter claim last Feb 11, naming the company and 10 others as defendants. 

The 10 named were Datuk Azhar Abdul Hamid, Mohd. Hassan Ahmad, Datuk Dr. Othman Omar, Dr. Mohamed Nazeeb P. Alithambi, Datuk Dr. Salmiah Ahmad, Datin Hoi Lai Peng, Datuk Yusli Mohamed Yusoff, Dr. Nesadurai Kalanithi, Datuk Mohd. Anwar Yahya and Datuk Mohamed Suffian Awang.

On November 23 last year, FGV sued its former president and CEO Datuk Mohd. Emir Mavani Abdullah and 13 others for RM514 million and other damages.

The 13 were former FGV chairman Tan Sri Mohd. Isa Abdul Samad, former chief financial officer Ahmad Tifli Mohd Talha, former vice- president Farisan Mokhtar, former senior general manager Rasydan Alias Mohamed and former non executive directors Ismee, Wan Abdul Aziz, Sulaiman, Nozirah, Fazlur Rahman, Datuk Omar Salim, Datuk Noor Ehsanuddin Mohd., Harun Narrashid, Datuk Yahaya Abd. Jabar and Datuk Faizoull Ahmad. — Bernama

In a filing with Bursa Malaysia, the company said the suit concerned the company’s acquisition of 100 per cent equity in APL through a voluntary conditional cash offer. — Bernama

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