Shahrir: FGV needs to adopt best corporate practices

Shahrir: ‘The FGV chairman in his statements in the 2015 and 2016 annual reports was full of praise for Zakaria for his efforts particularly in turning around Delima Oil Products Sdn Bhd as well as strict cost-cutting measures to improve the overall operations of FGV.’ – Bernama

FOR government agency Federal Land Development Authority (Felda) – which has been entrusted with the livelihood of 112,635 settlers and their families nationwide – having strong sustainable income is crucial.

Back in 2012, Felda listed its subsidiary, Felda Global Ventures Holdings Bhd (FGV), with the intention of unlocking the value of the world’s largest crude palm oil producer that would eventually provide a sustainable source of income for Felda via a fixed land lease agreement and 15% share of its profits plus dividends.