Felda Global caught up in governance storm
Group CEO suspended amid a probe by Malaysia's anti-graft agency; two years ago, Felda Global's plan to buy Indonesia's PT Eagle High was aborted
MALAYSIAN-listed Felda Global Ventures Holdings (FGV), the world's third-largest oil palm plantation operator, appears to be sorely missing out on one big compelling force of being a public company: better governance.
And that's showing up on its stock price.
Five years on from its much-hyped US$3 billion stock offering on Bursa Malaysia - among the world's biggest, second only to Facebook's initial public offering - the plantation juggernaut is tottering on woes that run much deeper than a commodity slump that has taken a toll on its fortunes.
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