New Felda CEO turns Malaysia's worst stock into its best in 4 months

Kuala Lumpur

IN Zakaria Arshad's first four months at the helm of Felda Global Ventures Holdings Bhd, the world's top crude palm oil producer has turned into Malaysia's best stock from its worst.

While the company's 28 per cent surge this quarter makes it the best performer on a gauge of Malaysia's top 100 companies, Mr Zakaria, who took over as chief executive on April 1, isn't resting easy. The shares are still 57 per cent below their listing price in 2012, when it was the world's third-biggest initial public offering that year, a slump the 56-year-old says keeps him awake at night.