KUALA LUMPUR — Oct. 9, 2017: The group president/CEO of Felda Global Ventures, Datuk Zakaria Arshad, will resume his duties after being on leave of absence since last June 6.
In a statement today, FGV said that after considering the ongoing company transformation programme and Zakaria’s commitment and assurance to resolve the long-outstanding debt of Safitex Trading LLC, the Minister of Finance (Incorporated) (MOF Inc), as FGV’s special shareholder, has requested Zakaria to return to duties.
Chairman Datuk Wira Azhar Abdul Hamid said his immediate priorities were to improve the operational and financial performance of FGV’s core business as well as ensuring sustainable growth.
“Being one of the biggest palm oil plantation companies, FGV must aspire to be the industry leader in terms of productivity and financial returns, so any factors hindering us from achieving these objectives must be addressed immediately.”
Azhar said there was a need for a new management structure to strengthen the organisation and to provide better focus towards achieving FGV’s strategic plans.
The composition of the board of directors will also be enhanced with the appointments of related subject matter experts.
On the domestic inquiry on Zakaria regarding Safitex Trading’s debt, FGV said it has been carried out with proper internal processes consistent with MOF Inc’s requirement.
It said the findings were submitted to MOF Inc, which then took its time to review before making its decision. — Bernama