GOVERNMENT-appointed troubleshooter Idris Jala arrived at the Felda Global Ventures Holdings Bhd head office today to take on the task of sorting out the company’s problems, which had come to a head with the suspension of its chief executive officer on Tuesday.

Idris, who was named by the Prime Minister’s Office yesterday evening to troubleshoot FGV, arrived even as Malaysian Anti-Corruption Commission (MACC) officers, who had arrived earlier today, sifted through documents to probe alleged improprieties in one of the world’s third-biggest oil palm planter.

Idris said he would not be commenting while the facts were still being established in the probe.

“I’m still focusing on getting the facts right. While I’m doing that, I do not want to make any statements because that will be very premature,” he said at the conclusion of the visit that lasted more than an hour.

After eight hours in Menara FGV, MACC officers emerged with four boxes and three trolleybags of company documents. The officers had confiscated the documents in their checks on all three floors of the building.

Earlier yesterday, FGV chairman Isa Samad upped the ante against CEO Zakaria Arshad, when he announced that the suspended CEO will be given a show-cause letter over the business dealings between Afghan company Safitex and FGV subsidiary Delima Oil Products Sdn Bhd.

Isa said the letter will be issued once internal investigations are completed. 

“All the investigation details will be in the letter.

“We are following procedures and the FGV board of directors will determine Zakaria’s fate based on his reply,” Isa told reporters in Menara Felda today.

Isa’s press conference comes in the wake of a gag order on Isa and Zakaria issued by Felda chairman Shahrir Abdul Samad last night, who said the public feud has led to finger-pointing and people taking sides.

Isa also said FGV had appointed lawyers in Kuala Lumpur and Dubai to look into the matter.

A core justification in the suspension of Zakaria is the alleged late payment by Safitex to DOP for a shipment of palm oil in September last year. It is believed that the funds were delayed because the Afghan owner of Safitex was unable to return to Dubai in time to execute the payment.

On FGV’s sliding stock prices on the market, Isa said it was normal for company shares to drop when they faced issues. 

“Like most companies, when they face issues their shares will drop. The issue had only affected a small margin of FGV shares. 

“When investors see how transparent FGV is, we will once again gain their confidence.”

FGV’s stocks started the day at RM1.68 a share, but fell to RM1.65 at lunchtime.

Isa also said FGV had no problem with the government appointing Idris Jala to troubleshoot FGV and establish the facts of the case. 

“We have no issues with Idris. We believe that it is a good move. 

Isa also said that there was no reason for him to resign as suggested by Umno Supreme Council member Puad Zakarshi.

“Why should I resign, I’m not the one who did anything wrong.” 

On the seizures conducted by MACC this morning at FGV offices, Isa said the anti-corruption agency had yet to summon him to record his statement, but pledged to cooperate with the probe.

Zakaria has also alleged mismanagement and other improprieties related to the Afghan deal, and was questioned for more than four hours by the MACC yesterday.

MACC had said it was looking into claims of graft and abuse of power involving several officers at FGV. – June 8, 2017