FGV falls on boardroom tussle in latest saga
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Kuala Lumpur
SHARES of Felda Global Ventures Holdings Bhd (FGV) tumbled 6.4 per cent to RM1.62 (52 Singapore cents) on Tuesday after its group president and chief executive Zakaria Arshad and group chief financial officer Ahmad Tifli Mohd Talha were asked to go on immediate leave of absence by the board pending investigations into certain transactions involving a subsidiary company Delima Oil Products Sdn Bhd.
Owing to the political nature of the state-owned planter, the latest development was invariably perceived to be a boardroom tussle between Umno politicians ahead of a general election which must be held around August next year.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
