In a filing with Bursa Malaysia Thursday, FGV said the MoU sets out the understanding and intention of the parties and shall remain valid for two years or such extended period as agreed in writing by the parties.
The MoU also serves to provide a framework for the realisation of human rights principles consistent with the United Nations Guiding Principles on Business and Human Rights (UNGP).
In addition, SUHAKAM will also conduct on-site visits and monitor activities to ensure adherence and compliance of human rights standards.
In a separate statement, FGV said the MoU was signed on behalf of SUHAKAM by its chairman, Tan Sri Razali Ismail, on behalf of Felda by its director-general, Datuk Hanapi Suhada and on behalf of FGV by its group president Datuk Zakaria Arshad.
Also present were Felda chairman Tan Sri Shahrir Abdul Samad and FGV chairman Tan Sri Mohd Isa Abdul Samad.
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