New Felda board directors to be announced next month

PETALING JAYA: The new Felda Investment Corporation Sdn Bhd (FIC) board of directors will be announced next month, said Felda chairman Tan Sri Shahrir Abdul Samad.
He said Felda's management and minister in charge of Felda affairs, Datuk Seri Mohd Najib Abdul Razak, will be engaged in discussions before the announcement.
The previous directors were ordered to resign to facilitate implementation of reforms and to reorganise the company, he added.
Speaking to reporters after handing out offer letters for the Felda New Generation housing project to 26 recipients at Felda Padang Piol in Jerantut, he said he would hold meetings with assemblymen whose constituencies have Felda settlements to discuss plans for such projects and to determine a suitable price for the units.
On Tuesday, he said the previous FIC board had thrown money down the drain as many of the projects undertaken by the company had caused massive losses to Felda, citing as examples its investments in Barakah Offshore Petroleum, Encorp Berhad and a sturgeon project.
When informed of his appointment, he said he told the prime minister there will be "blood in the streets" once he takes over as Felda chairman.
He assumed the post after the former chairman, Tan Sri Mohd Isa Abdul Samad, completed his tenure on Jan 6.
Shahrir said many of the projects FIC developed could not be sold at the moment as the people involved were being investigated by the Malaysian Anti-Corruption Commission.
The newly appointed chairman said to ensure there is no repeat of the same mess, better governance has to be put in place while the Felda board takes a closer look at the activities of FIC.
He said Felda will attempt to save projects that have a future.