Yesterday, Tan Sri Sulaiman Mahbob was appointed as acting chairman for Felda Global Ventures Holdings (FGV) with immediate effect, replacing Tan Sri Mohd Isa Samad who voluntarily relinquished his position as FGV chairman.

According to The Edge Market (20 June), the appointment of Sulaiman is to “uphold the integrity, spirit of impartiality of the ongoing inquiry, and to warrant proper corporate governance of FGV and Delima Oil Products.  The Prime Minister, Najib, also said that Sulaiman’s appointment is to ensure the operations of FGV is uninterrupted.

In a separate The Edge Market’s article (20 June), Sulaiman promised that the board of directors will find ways to improve the company’s financial performance. He also added that all measures taken by Mohd Isa with regard to the investigations would be continued until the objective is achieved.

Prior to his appointment, Sulaiman, who is also an FGV board member, has served the government for 38 years in various roles, including as director-general of the Economic Planning Unit, Prime Minister’s department and secretary-general of the then domestic trade and consumer affairs ministry.

Source: Macquarie Research - 20 Jun 2017