FGV suspends group president and CFO

PETALING JAYA: Zakaria Arshad group president and CEO of Felda Global Ventures Holdings Bhd (FGV) and the group chief financial officer Ahmad Tifli Mohd Talha have been suspended with immediate effect.

Zakaria told The Star that he received a letter on Tuesday signed by chairman Tan Sri Isa Samad informing him that he has been relieved of all duties in FGV and its subsidiaries indefinitely.

FGV said on Tuesday both were given given leave of absence from Tuesday pending a probe of certain deals under Delima Oil Products Sdn Bhd, which is a subsidiary of FGV.

My comments : Hi folks. Been away again for a couple of days. Plenty has happened in just two days. Stabbing in London, terror attack in Melbourne, Qatar made a pariah country by Saudi Arabia.

Now FGV has fired the CEO in yet another scandal.

Why not the whole damned Board of Directotrs of FGV and FELDA just resign?

FGV’s first CEO (the weird PhD guy) left in a cloud. Now the other CEO has also been fired.

The tale of the tail with no tail to the tale. Until the gas runs out. Then their cars will stop. They will then get down from their cars and just stand there. Not knowing what to do.

I knew an old man who died just a few years ago. India mari man. A migrant. Very little education.

Grew up in the north. He owned some land and when Malaysia began planting oil palm, he also got into the act. He became a small holder. Worked his own land.

He planted a few acres of oil palms. Weeded the lalang with his own hands. Planted the trees. Listened to the pertanian peoples’ advice and followed their advice.

He got the fertiliser subsidies. He applied the fertiliser to the oil palm trees instead of selling it for cash.

He said, ‘The soil is good, there is sun and rain. The oil palms grow by themselves. Just add a little fertiliser’.

Then when the fruit ripened he harvested it with his own hands.

Over the decades he bought more land and planted more oil palms. He hired workers to work for him.

After he died they found that he had left RM35 million or something in his bank accounts !!

This morning I was reading an analysts report about oil palms.
They said the same thing.
Oil palms are really tough plants.
They can survive dry weather.
In fact with the present hot weather (El Nino), they expect higher yield.

Just plant the oil palms.
Weed the lalang
Apply the fertiliser at the correct intervals.
Harvest the fruit.
Send it to the mill.

Itu pun FGV tak tahu buat kah?

Even when Martians get into financial trouble, they will have to sell assets.

What are FGV’s assets?