PM Najib outlines three principles to resolve FGV crisis, wants issue settled during this Ramadan

Jun 10, 2017

Prime Minister Najib Razak has outlined three main principles to resolve the crisis at Felda Global Ventures Holdings Bhd (FGV) and wants the issue to be settled during this Ramadan.

“Firstly, it (investigation) must comply with the company’s laws. Secondly, it must be in line with good governance, and thirdly, the investigation must go through a fair process,” he said during his speech at the National Level Felda Ramadan Ihya Rahmat programme at Felda Sungai Sayong in Kulai.

Najib said the appointment of former Minister in the Prime Minister’s Department, Idris Jala as an independent party to address the crisis that is affecting FGV was based on these three principles..

This is also to ensure that the facts that were obtained were accurate, and the government will finally be able to make a decision on the FGV crisis.

Najib who is also Finance Minister said it was the government’s desire to see the crisis resolved urgently.

“Once this issue has been settled, our aim is to make FGV a high-value conglomerate, with much bigger revenue than today and share value at a much higher level,” he said.

At present, Najib said he was still discussing with the Federal Land Development Authority (Felda) Chairman, Shahrir Abdul Samad to decide on FGV’s future.

“With the government’s commitment, we will strive so that FGV has an excellent future, Insya Allah (God willing),” he said.

Earlier, Najib also spent time to visit the 1Malaysia People-Friendly Housing project site, a joint-venture between Felda and Syarikat Perumahan Negara Bhd.

The Prime Minister later presented a Hari Raya incentive payment replica cheque to the National Felda Settler Chief Shamsuddin Othman.

Last Tuesday, FGV Board of Directors instructed its four senior executives including Group President and Chief Executive Officer (CEO), Zakaria Arshad, to go on leave effective immediately. –Bernama