FGV inquiry report expected by month-end: Acting chairman

SEPANG: Felda Global Venture Holdings Bhd (FGV) is expecting a report from the domestic inquiry panel on four board members at the end of this month, says FGV acting chairman, Tan Sri Dr Sulaiman Mahbob.
Speaking to reporters at the Kuala Lumpur International Airport (KLIA) while sending off 76 pilgrims managed by Felda Travel today, he said the FGV board of directors would make a decision based on findings and report from the panel.
"Whether they (the four being investigated) are guilty or not, we will decide (after receiving the panel's report). The board will think of the next plan of action. This is an internal investigation so the board has absolute right," he said.
To date, he said, three of the four former board members had already been questioned, adding that it took a week to complete the investigation on each of them.
"Investigations are ongoing and so far, all involved have given their full cooperation. The inquiry panel comprises three independent members who are not involved in the decision making," said Sulaiman.
It was reported earlier that the four people being investigated were FGV group president and chief executive officer Datuk Zakaria Arshad, former group chief financial officer Ahmad Tifli Mohd Talha and two senior management officers.
Earlier in its filing with Bursa Malaysia, FGV informed that the board of directors had decided to refer Zakaria and Ahmad Tifli's cases to a domestic inquiry panel after evaluating and considering their show- cause letters relating to outstanding payments from Safitex Trading LLC to Delima Oil Products, a subsidiary, of FGV. — Bernama