It has come to our attention that FELDA Global Ventures Holdings Bhd. (FGV) announced on 29 August 2013 to Bursa Malaysia of the resignation of former Group President and CEO Tan Sri Sabri Ahmad from the Board of Directors (BoD). The reason for resignation is stated as “Due to other commitments”.
However, it is alarming that FGV Chairman YB Tan Sri Isa Samad wrote to Sabri in a letter dated 2 September 2013 for the purpose of:
- Informing Sabri that he ceased to be member of BoD of several listed companies under the FGV Group which include FGV (from 29 August 2013) and MSM Malaysia Bhd. (from 5 September 2013), both listed in Bursa Malaysia
- Informing Sabri that he ceased to be member of BoD of several non listed companies under the FGV Group which include FGV Biotechnologies Sdn. Bhd. (from 15 July 2013) and Global Green Fuel Sdn. Bhd. (from 29 August 2013)
- Requesting Sabri to sign the resignation letters from BoD all the said companies, prepared and attached
On 5 September 2013, a corporation under the FGV Group MSM Malaysia Bhd. (MSM) announced that Sabri also resigned from the BoD and also for the same reason, “Due to his other commitments”.
We have been reliably informed that till present day, none of these letters are signed by Sabri.
Hence, if Sabri did not resign as a member of the BoD from any of the said companies, how could FGV disclose to Bursa Malaysia for the announcement of ‘his resignation’ from BoD of FGV and MSM?
Did they do a false declaration to Bursa Malaysia?
If FGV and MSM did, then they should be investigated under the Sect 122B of the Securities Industry Act. It is a crime punishable by a hefty RM3 million fine and ten years jail for committing deceitful statutory declaration, such as a change in the boardroom.