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Probe into FGV head involves millions of ringgit

Zakaria has been asked by the FGV board to go on leave immediately.

Zakaria has been asked by the FGV board to go on leave immediately.

Syndicated News
Written by Syndicated News

Zakaria says that he had in fact asked the MACC to investigate FGV in its entirety

KUALA LUMPUR — June 6, 2017: The investigation into Felda Global Ventures Holdings (FGV) Group President and Chief Executive Officer Datuk Zakaria Arshad, who has been told to go on leave immediately, is said to involve millions of ringgit.

FGV chairman Tan Sri Mohd. Isa Abdul Samad said the probe is ongoing following the findings of four investigations conducted by PricewaterhouseCoopers which could not be made public.

The initial investigation allegedly discovered a number of wrongdoings that forced FGV to ask Zakaria  to step down but he refused,” Isa told a press conference here today.

Zakaria was appointed CEO on April 1 last year.

FGV has notified Bursa Malaysia that Zakaria is on leave from today, while the investigation into some transactions by its subsidiary Delima Oil Products Sdn. Bhd. is being carried out.

Besides Zakaria, group chief financial officer Ahmad Tifli Mohd. Talha has also been asked to go on leave. investigation.

As at 12.04 pm, FGV’s share price shed seven sen to RM1.66 with 27.12 million shares transacted. Trading has since been halted.

When contacted by a television station, Zakaria understandably said he was willing to be investigated.

“In fact, when asked earlier I called on the MACC to come over to FGV and investigate the entire FGV, including this case (Delima Oil) to enable us to clear the air.”

While Zakaria is on leave, a board executive committee comprising two directors — Datuk Dr. Omar Salim and Datuk Mohd. Zafer Mohd. Hashim — together with the head of logistics cluster Azman Ahmad will take over responsibilities of the Group President/CEO.

The board has also appointed group financial controller (Plantation Sector), Aznur Kama Azmir, as the interim group chief financial officer. — Bernama

 

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