FGV Lauds New Malaysian Government's Non-Interference Stance In GLCs

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KUALA LUMPUR, May 18 (Bernama) -- Malaysian-based global agricultural and agri-commodities company Felda Global Ventures Holdings Bhd (FGV) supports the Malaysian government’s non-interference stance with regards to government-linked companies (GLCs), said Chief Executive Officer (CEO), Zakaria Arshad.

“We have been assured by the Council of Eminent Persons (CEP) that there will not be any more interference from politicians, moving forward,” he told reporters after giving a briefing to the CEP on the company’s overall operations and administration here, Friday.

The council was also briefed by the National Felda Settlers' Children Association Chairman, Mazlan Aliman, Felda’s former Director-General, Datuk Hanapi Suhada, Felda Investment Corporation Sdn Bhd Chairman, Datuk Syed Mohamed Syed Ibrahim and FELCRA Bhd CEO, Zulkarnain Md Eusope.

Commenting on his meeting with the CEP, Zakaria said they had discussed several issues, including agriculture, crude palm oil and the organisation’s operations.

“The council had asked for detailed information on what had happened, and I had explained to them the reasons for the purchase of the assets and other background information,” said Zakaria, adding that they had also discussed Felda’s purchase of shares in Indonesia’s PT Eagle High Plantations Tbk.

He said the meeting had resulted in several positive recommendations from the CEP to improve the company’s performance, including its administration and returns.

“Their recommendations were really good, but I will have to inform the board (before making any decision),” Zakaria said, adding that there was a possibility of FGV being summoned by the council again if necessary.