FGV sues Isa and Mohd Emir

Legal proceedings announced in a filing with Bursa Malaysia

KUALA LUMPUR: FGV Holdings Bhd has filed a suit against former chairman Tan Sri Isa Samad (pic, left) and former group president and chief executive officer Datuk Mohd Emir Mavani Abdullah (pic, right) over the acquisition of two luxury condominiums in Persiaran KLCC.

FGV announced the legal proceedings against the duo in a filing with Bursa Malaysia dated yesterday, Bernama reported.

The company claimed that the units were bought at prices signifi- cantly above market value and without due diligence, and that both individuals had unauthorised use and possession of the properties.

The suit also pertained to the acquisition by the company of a number of cars and their alleged misuse by Mohd Emir, as well as the alleged misuse of fuel benefits by him.

The company held that it had suffered losses due to their failure to discharge their respective fiduciary duty and duty to exercise reasonable care, skill and diligence.

Among others, the company is seeking RM7.68mil and other reliefs from both men.

The legal proceedings were initiated at the Kuala Lumpur High Court.

Last month, FGV Holdings commenced legal proceedings against Mohd Emir and 13 others for damages totalling RM514mil as well as other damages in relation to the acquisition of Asian Plantation Ltd.

Besides Mohd Emir, the others being sued in the Kuala Lumpur High Court include Isa and three other officials.

Isa was Felda chairman from 2011 to January 2017.