Shares of Felda Global Ventures climb on appointment of new chairman

Kuala Lumpur

SHARES of Felda Global Ventures Holdings Bhd (FGV) rose 4.3 per cent to RM1.71 (S$0.55) on Monday after Azhar Abdul Hamid was appointed chairman of the controversial state-owned plantations company last Friday.

A former top executive of conglomerate Sime Darby, Mr Azhar is expected to bring a steadier hand to FGV. Its plummeting fortunes since its listing in mid-2012 have been a bane to Prime Minister Najib Razak who needs the support of Felda settlers to win the next general election which has to be held by August next year.