The Board of Felda Global Ventures Holdings Berhad (FGVH) hereby confirms the resignation of YB Tan Sri Haji Mohd Isa Dato’ Haji Abdul Samad from the Chairmanship of Felda Global Ventures Holdings Berhad, its subsidiaries, associates and joint-venture companies (FGVH Group) to focus on his personal undertakings effective today. With this development, the Board also wishes to announce the appointment and re-designation of YBhg. Tan Sri Dr. Sulaiman Mahbob as Acting Chairman of FGVH effective today. (more…)Read more
We refer to above matter.
The Board Executive Committee on behalf of The Board of Directors of Felda Global Ventures Holdings Berhad (“FGV”) wishes to clarify that the GBP 100 million expansion of FGV Cambridge Nanosystems Ltd (FGV CNS) is not true and was never presented to the Board as alleged in the news article as quoted by Dato’ Zakaria Arshad. The RM117 million losses recorded by FGV CNS within the last three to four years is also not true. FGV took over FGV CNS in December 2013 and the losses incurred from 2014 to April 2017 was GBP5 million (RM27.5 million), being a start-up company at products development stage.
In relation to several media reports making reference to the investigation by PwC, we wish to clarify that on 18 February 2016 through PwC’s statutory financial audit for the financial year ended 31 December 2015, it had reported on the long outstanding debts of Safitex Trading LLC (Safitex) amounting to USD8.3 million to Delima Oil Products Sdn Bhd (DOP) that has resulted in an impairment exposure. (more…)Read more