Zakaria likely to make comeback to FGV

PETALING JAYA: Felda Global Ventures Holdings Bhd (FGV) group president and CEO Datuk Zakaria Arshad ( pic) will likely return this week to helm the plantation group after his suspension some three months ago.

According to sources, Zakaria is set to make a comeback given potential changes in the FGV board following the arrival of Datuk Wira Azhar Abdul Hamid as the new chairman, replacing acting chairman Tan Sri Dr Sulaiman Mahbob.

In June, Zakaria, group chief financial officer Ahmad Tifli Mohd Talha and two other senior management officials were told to take leave of absence pending a domestic investigation on purported wrongdoing in business dealings between its subsidiary Delima Oil Products Sdn Bhd and long-term business partner Afghan-based Safitex Trading LLC.

In the absence of Zakaria and Tifli, Datuk Khairil Anuar Aziz currently served as FGV’s officer-incharge while Aznur Kama Azmir as FGV’s interim group chief financial officer.

A source noted that Azhar is expected to reveal the outcome of the domestic inquiry proceedings to investigate alleged impropriety practices by Zakaria and three others some time this week.

Meanwhile, Bernama reported that Azhar is set to hold a meeting with the plantation group’s board members and key management on his first day in office today.

Azhar said he would do his level best to turn around FGV while adding value to the global agricultural and agri-commodities company.

“The first thing to do is to restore confidence in the company and also to make sure that everything is done the right way. So, if there is any grey area, we need to sort it out.

“And I also want to make sure that we resolve the issue related to the CEO as quickly as possible,” he told Bernama.

Azhar also thanked Prime Minister Datuk Seri Najib Tun Razak for the appointment and assured that FGV would be able to deliver on all its promises to its stakeholders under his leadership.

Azhar was also asked on the con- fusion following the Bursa Malaysia announcement on Friday that FGV did not receive a notification in writing from the Minister of Finance (Inc) to appoint him as FGV chairman.

He replied that the issue would be resolved by this morning.

Prior to this, Azhar was managing director of Malakoff Corp Bhd and had served as the CEO of Mass Rapid Transit Corp Sdn Bhd.

His experience in the plantation line was with Sime Darby as its executive vice-president of plantations and agribusiness division and was its acting president and chief executive from May 2010 to June 2010.

“I have led a few public listed companies, and on top of that, plantation has been an area in which I am passionate about.

“So, I look forward to meeting the challenge and I am passionate about actually turning around and add value to an organisation,” Azhar said.