Felda Global caught up in governance storm

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.