FGV says it asked two directors to stay on

PETALING JAYA: Felda Global Ventures Holdings Bhd (FGV) acting chairman Tan Sri Sulaiman Mahbob said yesterday two members of the board, namely Datuk Dr Omar Salim and Datuk Noor Ehsanuddin Mohd Harun Narrashid, had expressed their intention to resign from their positions several weeks ago, but were convinced to stay on.

“Upon considering the current state of affairs of the company and the way forward that have been accepted by the government and FGV on June 19, 2017, which are to improve FGVH’s corporate governance and business controls and undertake a comprehensive business review as well as to uphold the integrity and spirit of impartiality of the ongoing inquiry, I had then personally requested all members of the board to stay on,” Sulaiman said in a statement.

He added that updates will be provided if there is any further development.
Sulaiman was commenting on a recent media report on the resignation of the two board members, whereby Noor Ehsanuddin and Omar were expected to be dropped to make way for representatives from the Federal Land Development Authority (Felda). It is not clear if FGV will retain Datuk Mohd Zafer Mohd Hashim, another director.

On Wednesday, FGV appointed three representatives from Felda, Datuk Muzzammil Mohd Nor, Ab Ghani Mohd Ali and Datuk Abu Bakar Harun, to its board.

On the stock market yesterday, FGV was unchanged at RM1.63 with 7.29 million shares traded. It has a market capitalisation of RM5.94 billion.