Fraud in Felda Global Ventures


PETALING JAYA: Felda Global Ventures Holdings Bhd (FGV) has discovered fraud in its 50%-owned unit in Turkey, which has incurred a stock loss of RM57mil. This contributed to FGV’s net loss for its third quarter ended Sept 30 widening to RM94.86mil from RM33.9mil a year ago.

FGV shares plunged 11% at yesterday’s close, while its warrants suffered bigger losses.

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Business , FGV , palm oil , results , Zakaria , Fraud , shares , stocks , Turkish ,

   

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