KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) group president and chief executive officer Datuk Zakaria Arshad and three others will know their fate over allegations of improprieties as early as Monday.
FGV today said its independent domestic inquiry (DI) panel to resolve the issues related to the alleged breach of procedures at its subsidiary Delima Oil Products Sdn Bhd, is expected to deliver its decision by early next week.
Zakaria, group chief financial officer (CFO) Ahmad Tifli Mohd Talha, Delima Oil senior general manager Kamarzaman Abd Karim and FGV Trading CEO Ahmad Salman Omar are facing the DI over the long outstanding debt of Safitex Trading LLC with Delima Oil.
All four have been placed on leave of absence since June 6.
FGV was supposed to deliver the decision today (Tuesday) but the company said the delay was due to one of the panel members having had to leave for an official trip overseas this evening.
“Until further notice from the board, the group president/CEO and group CFO shall continue to be on leave of absence.
“In the meanwhile, Datuk Khairil Anuar Aziz will continue to serve as FGV’s officer-in-charge and Aznur Kama Azmir will continue as FGV’s interim group CFO until further announcement by the board,” it said in a filing to Bursa Malaysia.
The DI was initiated in July after FGV’s board of directors had on June 14 issued and served showcause letters to Zakaria and Ahmad Tifli relating to the long outstanding debt of Safitex Trading with Delima Oil.