FGV corporate governance has to be improved: Shahrir Samad

PUTRAJAYA: Corporate governance in the troubled Felda Global Ventures (FGV) has to be improved, Felda chairman Tan Sri Shahrir Abd Samad said.

Shahrir said he had expressed his views about the need to make changes in FGV during a meeting with Prime Minister Datuk Seri Najib Abdul Razak yesterday.

"We have stated our views to the prime minister that as a government-linked company, FGV has to demonstrate a high standard of corporate governance," he said.

"Corporate governance in FGV certainly has to be improved. We have made our views about the need to make the changes and to make sure that corporate governance is strictly adhered to by FGV," he told reporters after the meeting at the Finance Ministry.

Shahrir said as the biggest shareholder, representatives from Felda deserved to be in the board of directors of FGV.

"In terms of governance, the leadership (of FGV) should adhere to the best governance practice as stated by the prime minister," he added.

Shahrir said no representatives from FGV had taken the initiative to meet him, despite Felda being a significant shareholder.

"I believe this is because they do not understand corporate governance," he said, adding the FGV board of directors should respect the views and importance of its shareholder.