FGV: Panel’s decision to be out next week

PETALING JAYA: The domestic inquiry proceedings on Felda Global Ventures Holdings Bhd’s (FGV) group president and CEO Datuk Zakaria Arshad resumed today and a decision is expected by early next week.

In a filing with Bursa Malaysia today, FGV said the independent domestic inquiry panel is expected to deliver its decision by early next week, as one of the panel members had to leave on an official trip overseas today.

Zakaria and group CFO Ahmad Tifli Mohd Talha will continue to be on leave of absence while Datuk Khairil Anuar Aziz and Aznur Kama Azmir will continue to serve as officer-in-charge and interim group CFO respectively, until further notice from the board of directors.

Recall that Zakaria, Ahmad Tifli and two others namely FGV Trading Sdn Bhd CEO Ahmad Salman Omar and Delima Oil Products Sdn Bhd senior general manager Kamarzaman Abd Karim were referred to a domestic inquiry for alleged breach of procedures at Delima Oil Products, a subsidiary of FGV.

The domestic inquiry began on July 18, during which the independent panel reviewed the answers submitted by Zakaria and Ahmad Tifli in response to show-cause letters issued to them earlier.

FGV acting chairman Tan Sri Dr Sulaiman Mahbob had told reporters last month that the board expected a report from the panel by end of August, after which it would decide on its next plan of action.