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FGV Announces Decision on Group President and Chief Executive Officer

FGV ANNOUNCES DECISION ON GROUP PRESIDENT AND CHIEF EXECUTIVE OFFICER

KUALA LUMPUR, 9 OCTOBER 2017 – FGV has today announced that Dato’ Zakaria Arshad shall resume his duties at Felda Global Ventures Holding Berhad’s (FGV) Group President/Chief Executive Officer (GP/CEO) on 16 October 2017, after being on leave of absence since 6 June 2017.
In the said announcement, the FGV Board stated that the DI has been carried out with proper internal processes consistent with The Minister of Finance (Incorporated)’s requirement that the DI process must be carried out with integrity, spirit of impartiality and ensuring proper corporate governance. The findings of the DI were submitted to the Minister of Finance (Incorporated) in line with Article 80 of FGV’s Memorandum and Articles of Association and the Minister of Finance (Incorporated) has taken time to review before making its decision.
After taking into consideration the ongoing FGV transformation program and the GP/CEO’s commitment and assurance to resolve the long outstanding debt of Safitex Trading LLC., the Minister of Finance (Incorporated), would like Dato’ Zakaria to return as the FGV GP/CEO.
Meanwhile, FGV Chairman Datuk Wira Azhar Abdul Hamid reiterates his commitment to turn around and bring the Company to greater heights despite the various challenges faced at this point in time. “My immediate priorities are to improve operational and financial performance of our core business and ensure sustainable growth going forward. Being one of the biggest palm oil plantation companies, FGV must aspire to be the industry leader in terms of productivity and financial returns, so any factors hindering us from achieving these objectives must be addressed immediately,” stated Datuk Wira Azhar.
Datuk Wira Azhar also mentioned that there is a need for a new management structure to strengthen the organization going forward and to provide better focus towards achieving FGV’s strategic plans. The Board composition will also be enhanced with the appointments of related Subject Matter Experts to the Board. The Board will make the related announcements in due course.
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FGV Signs MoU with Sinograin to Expand Its China Market

Dato’ Zakaria Arshad exchanging the MoU with Sinograin General Manager, Wang Zengli. Looking on are (from left) Sinograin Deputy General Manager, Yu Zubin, FGV Trading CEO, Ahmad Salman Omar and representatives from Sinograin.

Dato’ Zakaria Arshad exchanging the MoU with Sinograin General Manager, Wang Zengli. Looking on are (from left) Sinograin Deputy General Manager, Yu Zubin, FGV Trading CEO, Ahmad Salman Omar and representatives from Sinograin.

BEIJING – Felda Global Ventures Holdings Berhad (FGV) signed a Memorandum of Understanding (MoU) with Sinograin Oils Corporation (Sinograin) with the aim to explore the feasibility of supplying and distributing palm oil products to penetrate China’s midstream and downstream market. (more…)

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FGV To Start a Joint Research Lab on Palm Oil with Dutch Crop Innovation Company, KeyGene

KUALA LUMPUR – Felda Global Ventures Holdings Berhad (FGV) and Dutch crop innovation company, KeyGene have signed a Memorandum of Collaboration (MoC) agreement to establish a strategic partnership to start a joint research laboratory (Joint Lab).

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