YOURSAY | ‘I hope Zakaria is vindicated and reinstated as the CEO.’

It's me or Isa, suspended FGV chief executive tells shareholders

MinahBulat: Mohd Emir Mavani Abdullah, the former CEO of Felda Global Ventures (FGV), is currently under Malaysian Anti-Corruption Commission (MACC) investigations.

What is there to investigate the current CEO, Zakaria Arshad? This challenge to FGV shareholders by Zakaria has opened up a new can of worms.

Look at Zakaria's background. He is a product of Felda, and grew up in one of the settlements. He is truly a son of the Felda soil. With his credentials, I’m sure he knows what he is talking about.

As for FGV chairperson Isa Samad, I think he knows nuts about corporate governance, except that of Umno-style.

Dahjadi Bubur: Right on. Fight, fight, fight, and let transparency and truth be unearthed and justice prevails; only then, can the institution grows and becomes strong.

Anonymous 1934451437985408: Zakaria seems good and is focused on creating shareholder value. I hope he is vindicated and reinstated as the CEO.

This is exactly the type of individual we need running these companies. While they are at it, why not bring in a few new directors?

Kheng: Revenues increased. A profitable quarter. Yet, suspended over purported payment issue. It appears FGV doesn't want a CEO that can deliver results. What does this tell us?

Dont Just Talk: Based on the past performance of FGV, and that its IPO (initial public offering) price was RM4.45 in 2012 and now trading at RM1.60, the board of directors should just sack Isa.

Kingfisher: Even a fleeting read of this internal strife between Zakaria and long-time big boss Isa leaves one with an impression that some of the alleged free-wheeling days of yesteryears of FGV are coming to a reckoning.

Some form of serious rationalisation, blame game and even eventual blood-letting at the very top may prove useful for the historically and socially highly regarded and valued entity (Felda), which in recent times has become notorious for the wrong reasons.

Discovery: Zakaria, the entire country is behind you. Stand your ground.

You are the sole candle in the darkness brought on by the present government's policy of turning a blind eye to grand theft and corruption, and hopefully with you as an example, more candles will proliferate in the future.

Clever Voter: It’s very clear that a failed politician with tainted records cannot be trusted with financial matters, let alone a public-listed company that owes its obligations to its stakeholders.

Sadly, politics gets in the way. The winners are a few but the losers are poor Felda settlers. What more do these people want?

Headhunter: In the end, the one who can dish out the most ‘dedak’ will win. The shareholders will not give Zakaria their support.

The interest of Felda can go to hell as far as they are concerned. They all want to keep their seats on the gravy train.

Discerning Reader: It is a foregone conclusion that Isa has to go, for what has he done to benefit FGV? Look at the share price of FGV under his stewardship. All the shareholders are really taken for a ride.

Instead of upgrading the facilities, his son went to purchase hotels and whatnot. It is for their own self-interest and it is so obvious to all, except the average shareholders from Felda and those who are benefiting from all the deals.

Tikusmati: Somehow, the powers-that-be will force Zakaria to compromise, unless more in high positions come out from their comfort zone to support what is right, instead of being blind to what is wrong.

Anonymous 2439891477538802: Based on historical facts, all losses suffered by FGV and Felda will be borne by the government on behalf of the taxpayers and the rakyat.

The alleged pillaging, looting and plunder will not cease as long as the government of the day is in power and not replaced.

Fair Play: Sooner rather than later, either or both Bursa Malaysia and the Securities Commission would have to step in because it involves public accountability of the board of directors of a public-listed entity.

It looks like Zakaria is doing his best to enforce corporate governance and accountability of the board, but instead was made the fall guy.

Anonymous 1869301444031055: Be strong, Zakaria. Please engage the best counsel in the country and sue Isa and FGV. The moment you file your suits at the High Court, Isa’s dirty laundry would be made public.

Zakaria, you cannot rely on MACC, for they too are under control, so the court would be the best avenue.

Please shed some lights on Eagle High Plantations, and the rakyat would be indebted to you for your sacrifices to this nation, Zakaria.

1Citizen: The FGV board and the PM will have to decide, for all to see, whether they represent the interest of the shareholders or the interest of politicians.

Anonymous 1034721438846003: Indeed, Isa should continue serving FGV so that the value of the share will continue to tumble, making it the most undervalued government-linked company (GLC) stocks in history.

Appum: This feud is easy to solve. Just ask FGV shareholders, do you want profit or loss? If you want profit, Zakaria stays. If you want loss, Isa stays.

No need for a long explanation, as many would not understand the intricacies involved.

The above is a selection of comments posted by Malaysiakini subscribers. Only paying subscribers can post comments. Over the past one year, Malaysiakinians have posted over 100,000 comments. Join the Malaysiakini community and help set the news agenda. Subscribe now.

These comments are compiled to reflect the views of Malaysiakini subscribers on matters of public interest. Malaysiakini does not intend to represent these views as fact.