FGV shares up, no announcement on chairman appointment yet

PETALING JAYA: Felda Global Ventures Holdings Bhd’s (FGV) share price rose 4.27% this morning even as it is yet to receive formal notification from The Minister of Finance (Incorporated), on the appointment of former Malakoff Corp Bhd group managing director Datuk Wira Azhar Abdul Hamid as chairman effective Sept 8, despite an announcement made to the effect by the Prime Minister.

As at 10.28am, FGV is the top 14th gainer on Bursa Securities. Its share price stood at RM1.71 with 13.8 million shares changing hands.

Datuk Seri Najib Abdul Razak in a statement last Friday announced Azhar's appointment as chairman in accordance with the special shareholders’ rights via Article 80(1) Memorandum and Articles of Association FGV.

In a filing with Bursa Malaysia however, FGV said it is yet to receive notification in writing from MoF Inc for Azhra to be made the government appointed director.

Until such a notification is received, the board of FGV said Tan Sri Sulaiman Mahbob remains the acting chairman of the board and will continue to discharge his duties.