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KUALA LUMPUR: FGV Holdings Bhd will appoint independent third parties in September to audit and verify each of the newly appointed foreign worker recruitment agencies.
PETALING JAYA: While it wants to remain in the sugar business, FGV Holdings Bhd does not rule out the possibility of reducing its stake in its 51%-owned MSM Malaysia Holdings Bhd
No more fundraising for Boustead?
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.
HE had dropped off the radar screen the last six months but Datuk Seri Dr Ahmad Zahid Hamidi has returned with a bang.
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”.
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.
Shareholders, especially institutional ones, are beginning to flex their muscles on the remuneration of boards of directors – something quite rare in corporate Malaysia previously.
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.
The Alternative View by M. Shanmugam A DICHOTOMY of sorts emerged in the shareholders’ meeting of FGV Holdings Bhd.