Right decision not to pay non-performing directors

DEPUTY Economic Affairs Minister Dr Mohd Radzi Md Jidin was recently quoted by new agency Bernama as saying that the rejection of the three resolutions on the payment of fees and benefits to directors of FGV Holdings Bhd (FGV) was because of the company’s RM1.08bil losses in 2018.

The Felda (Federal Land Development Authority) board of directors reviewed the resolutions and agreed to reject all resolutions involving payment of fees and benefits to the FGV board members. Although this is an unprecedented move, Felda had every right not to approve the resolutions given FGV’s poor performance and exorbitant directors’ fees amounting to approximately RM5mil.