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Idris has completed report on FGV

Mohd-Abdul-Isa-Samad-fgv

Syndicated News
Written by Syndicated News

PUTRAJAYA — June 14, 2017: Former minister Datuk Seri Idris Jala has completed his report on the problem in Felda Global Ventures Holdings, with the findings to be announced at “an appropriate time”.

Idris was appointed by Prime Minister Datuk Seri Najib Razak as an independent party to look into the dispute and also suggest solutions.

The FGV board last week asked its Group President and Chief Executive Officer Datuk Zakaria Arshad, Chief Financial Officer Ahmad Tifli Mohd. Talha and two other senior executives to go on definitely leave.

Subsequently Zakaria and Tifli were also issued show-cause letters, to which they must respond within seven days.

According to Najib, all the facts are being analysed and the decisions to be made would be based on the three principles he had mentioned — based on company law, good governance and fair process.

Felda chairman Tan Sri Shahrir Samad, when met after his 30-minute meeting with Najib today, said he would leave  the matter to Najib.

“We have stated our views as a significant shareholder of FGV to the prime minister that FGV, as a government-linked company, has to adhere to high standards of corporate governance,” he said.

He also requested Najib to reappoint representatives to the board of FGV.

Asked if anyone from FGV had met him to discuss the problem, Shahrir answered in the negative.

“No representative from FGV has met me on this although we are a significant shareholder.  I believe this may be because they do not understand corporate governance.

“We are the shareholder, the question is who’s interest should be protected.

“Under corporate governance, the board of directors must respect the views and observations and interests of shareholders,” he remarked. — Bernama

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