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Sulaiman Mahbob to become new FGV chairman?

 | June 19, 2017

Sources tell daily that Sulaiman will replace Isa Samad as FGV chairman.

Sulaiman-MahboobPETALING JAYA: Sources have told the New Straits Times that Sulaiman Mahbob will replace Isa Samad as Felda Global Ventures Holdings (FGV) Bhd chairman.

This comes ahead of an announcement on the matter expected later today.

According to a report by Harian Metro, Isa met with Prime Minister Najib Razak at his office in Putrajaya this morning. The report said Isa had entered Perdana Putra at about 8am and left roughly three hours later at 11am.

Isa’s position in the company was recently questioned, following a fiasco in which the firm’s top executives were suspended.

Amanah deputy president Salahuddin Ayub had said a credible person should lead FGV, suggesting that Isa was a “favourite” of Najib.

“My question to Najib is, ‘why is Isa Samad still untouchable’.

“What is so special about Isa that his position is still being protected?” Salahuddin had asked on June 14.

Troubled FGV made headlines when four of its executives, including its president and CEO Zakaria Arshad, were told to go on an indefinite leave pending an internal investigation into an issue involving delayed payment from a Dubai-based Afghan company, Safitex Trading, to FGV subsidiary, Delima Oil Products.

On June 7, the prime minister appointed former minister Idris Jala to oversee the internal investigation.

The next day, MACC seized documents at FGV’s headquarters, one day after Zakaria’s meeting at the MACC office.

Besides Zakaria and chief financial officer Ahmad Tifli Mohd Talha, Delima Oil Products’ senior general manager Kamarzaman Abd Karim, and FGV trading CEO Ahmad Salman Omar were also asked to take a leave of absence.

Sulaiman is the non-independent non-executive chairman of the board of Telekom Malaysia Bhd.

He has a degree in Economics from Universiti Malaya (UM), a masters in science from the University of London and a PhD from the Maxwell School of Citizenship and Public Affairs at Syracuse University, New York.

He served in the government for over 38 years in various capacities, including as the director-general of the Economic Planning Unit (EPU), Prime Minister’s Department, secretary-general of the then-domestic trade and consumer affairs ministry, and under-secretary (Economics) of the finance ministry.

He was previously chairman of the Malaysian Investment Development Authority (Mida) and the Companies Commission of Malaysia. He was also a board member of Petroliam Nasional Berhad (Petronas), Federal Land Development Authority (Felda), Malaysia Insurance Deposit Corporation (PIDM) and the then-Multimedia and Communications Commission.



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