The proposed plan is to distribute the units in the entity, which will be a plantation trust, to all shareholders of FGV and the Federal Land Development Authority (Felda) to be appointed as the manager of the plantation trust.
KUALA LUMPUR: Felda Investment Corp’s (FIC) 70.8%-owned subsidiary Encorp Bhd
has announced some boardroom changes effective Monday, including the resignation of Tan Sri Mohd Isa Samad as non-executive chairman.
The property development and construction firm told Bursa Malaysia that the resignation of former Federal Land Development Authority (Felda) chairman Isa, 67, as well as non-executive directors Datuk Noor Ehsanuddin Mohd Harun Narrashid, 54, and Datuk Hanapi Suhada, 60, were due to “change of nominee from the major shareholder.”
FIC’s new nominees to the Encorp board are its directors Datuk Muzzammil Mohd Nor, 45; Datuk Syed Mohamed Syed Ibrahim, 58; and Hussein Ismail, 60.
Muzzammil is also Felda deputy director-general (management), Syed Mohammed is also Iskandar Waterfront Holdings Sdn Bhd president and executive director, and Hussein is also Iris Corp director.
The announcements were silent on the appointment of a new chairman.
FIC is a wholly-owned investment arm of Felda.
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