Felda Global Ventures Holdings Berhad's (FGV) board of directors has denied its suspended chief executive officer (CEO) Zakaria Arshad's allegations of “ridiculous deals” related to a £100 million and RM300 million investment respectively.

“(The board) wishes to clarify that the £100 million expansion of FGV Cambridge Nanosystems Ltd (FGV CNS) is not true and was never presented to the board as alleged in the news article as quoted by Zakaria Arshad."