MACC must investigate FGV management, says CEO

Zakaria Arshad urges anti-graft agency to probe deals made by the company, especially those involving FGV’s procurement department.

(FMT) – Felda Global Ventures (FGV) president and CEO Zakaria Arshad wants the Malaysian Anti-Corruption Commission (MACC) to investigate the company, the New Straits Times reported today.

Referring to a boardroom tussle at FGV that emerged last week, Zakaria said it involved serious allegations and that he was prepared to be investigated as well.

“That is why I want this matter to be solved amicably and suggest for the MACC to come to FGV and investigate myself and the company.

“Through the investigation, we will know if there were any discrepancies in dealings done by myself, the management or any of the superiors,” he told the daily in an interview at his office this morning, shortly before he was forced by the FGV board of directors to take leave with immediate effect.

The order from the board stated he was to take the indefinite leave pending an internal investigation into a delayed payment by an Afghan company, Safitex, to a FGV subsidiary.

Zakaria also challenged authorities to find any wrongdoing on his part, involving the late payment by Safitex to Delima Oil Products, saying he would resign from the company if they did.

Alluding to where he believes some irregularities lie in the company’s activities, he said the focus of any investigation by MACC should focus on the departments handling procurements in FGV.

“MACC should come in and check our data. Sometimes things just look better on paper,” he was quoted as saying, adding that he would only take legal action against FGV if he was sacked without being given a chance to give his side of the story.

Yesterday, NST reported that FGV chairman Mohd Abdul Isa Samad had asked Zakaria to resign on grounds that he had gone against corporate practices by allowing Safitex’s purchase without a letter of credit, which led to the delayed payment.

Meanwhile, FGV has released a statement, announcing the appointment of its plantation sector group financial controller Aznur Kama Azmir as its interim group CFO.