Malaysia appoints new chairman for palm plantation operator Felda

[KUALA LUMPUR] Malaysian Prime Minister Najib Razak has appointed Shahrir Abdul Samad as chairman of the Federal Land Development Authority (Felda), operator of some of the world's biggest palm oil plantations, state news agency Bernama reported on Friday.

Mr Shahrir, a member of parliament and former chairman of the Malaysian Palm Oil Board, replaces Mohamad Isa Abdul Samad, who will stay on as chairman of main listed unit, Felda Global Ventures Bhd.

Felda Global Ventures is the world's third-largest palm plantation group.

State-owned Felda drew criticism with an announcement in December that it would buy a stake of 37 per cent in Indonesian palm oil firm PT Eagle High Plantations Tbk for US$505.4 million, which critics saw as overpriced.

REUTERS