The Malaysian Insight

IN Malaysia, rumours often turn out to be true.

And so it seems at Felda Global Ventures Holdings Bhd (FGV) where, whispers about things being in a dismal state are proving prescient with news that the CEO has been removed and a former senior official is being investigated by the Malaysian Anti-Corruption Commission (MACC).

FGV group president and CEO Zakaria Arshad and group chief financial officer Ahmad Tifli Mohd Talha have been instructed to go on forced leave with immediate effect.

Felda chairman Isa Samad, who was forced to call a press conference this afternoon said FGV will give its full cooperation to MACC should the anti-graft agency decide to investigate.

“That depends on MACC. If they want to investigate, let them, we have no issues. For the time being, only the internal audit (IA) is investigating,” Isa told a press conference in at Menara Felda in Kuala Lumpur.

Isa said FGV will not obstruct MACC if it decides to investigate the company’s dealings, specifically the transaction between subsidiary Delima Oil Products (DOP) and Afghan company Safitex.

He said PricewaterhouseCooper (PwC)’s probe on the deal, which had led to Zakaria’s suspension along with three others, found several offences linked to corruption

Even so, Isa refused to point fingers but said FGV’s internal audit will also perform a thorough investigation.

“FGV will not report to the MACC, but is ready if MACC wants to investigate. Nobody can stop MACC if the agency wants to investigate,” he said when asked to comment on Zakaria’s call for the graft busters to prove the case.

On Zakaria’s allegations that there were “hidden hands” and “suspicious transactions” in FGV, Isa said Zakaria should have reported what he knew to MACC.

“If he (Zakaria) is unsatisfied (with FGV’s direction and investigation) and wants to report to the MACC, go ahead,” he said.

Isa reiterated that Zakaria has not been sacked and was only ordered to go on leave while investigations are underway.

“Earlier in the morning we have already given a letter to Zakaria so that he will take leave and allow the investigation to be completed. If there is reason for it, we will issue a show-cause letter,” he said.

Zakaria earlier said he believed the investigation into Safitex and DOP to be an excuse to sack him.

He said the arrears are merely 0.2% of the FGV acquisition price, and is not a big enough issue to sack or fire him for.

Meanwhile, an assistant manager at the editorial department of The Star today claimed trial in the Sessions Court to a charge of receiving a RM20,000 bribe in Kuala Lumpur on May 30 last year, reported Bernama.

M Youganesparan, 54, is accused of accepting the bribe from one Mohd Emir Mavani Abdullah, 54, purportedly to be given to a MACC officer as an inducement for the officer concerned to settle a case involving Emir, who was allegedly under investigation.

A check with Bloomberg corporate persons’ profile showed that Emir is formerly the group managing director of Felda Holdings Bhd. He was also CEO and group president of Felda Global Ventures Holdings Bhd from July 15, 2013 till April 1, 2016.

Emir has also been the director of National Key Economic Area (NKEA), Pemandu, under the Prime Minister’s Department since 2010.

He also served as adviser of strategy and police on the Abu Dhabi Executive Council.  – June 6, 2017.