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KUALA LUMPUR: Lembaga Tabung Angkatan Tentera's (LTAT) decision to vote against the FGV Holdings Bhd's directors fees at Tuesday's AGM was to protect the interests of its contributors who are members of the armed forces.
Comment by Lya Rahman THE recent freeze on the remuneration payout of FGV Holdings Bhd (FGV) directors by its three major and substantial shareholders especially Felda – while is understandable from the perspective of financial performance – also has that tinge of irony resembling “a father/mother disciplining his/her child in public”.
TAN Sri Megat Zaharuddin Megat Mohd Nor lasted only 11 months as chairman of the Federal Land Development Authority (Felda). He was roped in to improve the governance in Felda and resolve its cash-flow problems.
Corporates on Bursa Malaysia have seen a cut in director’s remuneration but the decision by shareholders of FGV Holdings Bhd to reject resolutions approving the payment of fees to the company’s directors is seen as unprecedented.
ONE YEAR after a historic regime change, Malaysia’s politics remain a combustible cocktail of sleaze and power lust. At least the economy is on the right track, even if it’s nowhere close to fulfilling its potential.