Najib: Resolve FGV problems by Raya

(The Star) – The Government wants the boardroom tussle in Felda Global Ventures Holdings Bhd (FGV) to be resolved during the fasting month which ends on June 24.

Prime Minister Datuk Seri Najib Tun Razak said any delay in solving the problem would not be good for the public-listed company.

“The Goverment is committed to transform FGV into a corporate company with high value in terms of  revenue and shares,” he said in his speech at Felda Bukit Sayong here on Saturday during a breaking of fast programme with over 6,000 settlers.

Najib outlined three main principles to resolve the crisis.

“Firstly, it (investigation) must comply with the company’s laws. Secondly, it must be in line with good governance, and thirdly, the investigation must go through a fair process,” he said.

On June 6, group president and chief executive officer Datuk Zakaria Arshad and three other senior management staff members were asked to take an indefinite leave of absence, which FGV chairman Tan Sri Mohd Isa Abdul Samad said was a decision made by the entire FGV board.

The board’s decision came a day after Zakaria was told to resign by Mohd Isa following a series of board meetings since May 31, concerning delayed payment owed to Delima Oil Products Sdn Bhd by Safitex Trading LLC, an Afghan company.

Anti-graft officers were at the FGV headquarters in Menara Felda to conduct investigations.

The Government has also appointed former minister in the prime minister’s department, Datuk Seri Idris Jala, to probe the boardroom crisis.