Disclosure of Deceit

Website of Bursa Malaysia

Screenshot of Bursa Malaysia portal dated 29 August 2013, of the FGV announcement of Sabri Ahmad’s resignation from the BoD

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”.

Isa Samad's letter to Sabri Ahmad informing of the "Cessation as BoD member of FGV and MSM" dated 2 Sept 2013

Isa Samad’s letter to Sabri Ahmad dated 2 Sept 2013 informing of the “Cessation as BoD member of FGV and MSM” and requesting him to sign the resignation letters

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:

  1. 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
  2. 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)
  3. Requesting Sabri to sign the resignation letters from BoD all the said companies, prepared and attached
Screenshot of MSM announcement to Bursa Malaysia dated 5 September 2013 for the resignation of Sabri from the BoD

Screenshot of MSM announcement to Bursa Malaysia dated 5 September 2013 for the resignation of Sabri from the BoD

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.

The undated and unsigned letter prepared by Isa Samad for Sabri Ahmad to make his mark, resignation as BoD member of FGV

The undated and unsigned letter prepared by Isa Samad for Sabri Ahmad to make his mark, resignation as BoD member of FGV

The undated and unsigned letter prepared by Isa Samad for Sabri Ahmad to make his mark, resignation as BoD member of MSM

The undated and unsigned letter prepared by Isa Samad for Sabri Ahmad to make his mark, resignation as BoD member of MSM

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.

Published in: on October 11, 2013 at 10:30  Comments (21)  

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21 CommentsLeave a comment

  1. Najib must initiate a thorough investigation if this is true!

  2. *Comment deleted

    Please take your thoughts elsewhere. We have bannished you once.

    Then we allowed you to come and share your thoughts as “Nora”.

    It is proven that you are an obnoxious element that litter the discourse this blog. Good bye

    • Well done, BD. The bugger trying to come in under different names, eh? The wild allegations no substantiation glorifying Singapore bloke.

  3. BoD :-

    1. Whatever, they must follow company regulations – Board Meeting or EGM on important issues. Is there any ?

    2. There must be strong reasons for “sacking”. It was clearly stated too – without compensations ! After years of service, just get nothing ? or he has done wrong or against company policies ?

    3. What about the other Directors ? No statement / directive by Company’s Legal Advisers ? Audited Accounts for the list of the subsidiaries companies that had been under his administrations ?

    My Public Listed Co. ( My represents two meaning – which one ? ) – Layman talk, ok ?

  4. If this is true, then 2 things must be sorted out:

    1. Who is going to make the report to police/SC? Any concern shareholder?

    2. Tan Sri Sabri should sue FGV (preferably the signatory of the letter). Doing so will clear his name and cover the medical expanses (that he is entitled to in the first place).

    We do not need a “snake” as UMNO VP, else UMNO and BN will almost certainly be an opposition by the end of next GE.

    • If Isa Samad wrote to Sabri Informing Sabri that he ceased to be member of BoD of several listed companies under the FGV Group and “requesting Sabri to sign the resignation letters from BoD all the said companies, prepared and attached” – that in itself is wrong.

      But, where forgery or deceit is done by any member of the public, any concerned citizen can make a Police report, isn’t it – no need to be a shareholder of the company concerned.

  5. sack FGV’s Company Secretary…

  6. RM 3 million may not be so “hefty” for a person like Isa, though the 10 years may be. But he is no ordinary person, so I doubt if anything will come out of this. My sympathy go to Tan Sri Sabri and his family.

  7. So typical of Isa Samad. Never mind corporate governance or that he transgressed so many laws and SC regulations. How can he do this to a man fighting for his life in the hospital.

    I wish I voted the alternative party in the last GE. Shameful!
    Lock him up in a jail cell and throw away the keys!!!!!

    Ask him to pre sign his resignation letters before hand too.

  8. dear bigdog,
    in your haste to demonize Isa, please do not make the mistake of championing Sabri. If you had done your homework, you will find out that Sabri was no angel…neither was his wife. He acted as if he was the emperor of Felda.
    My suggestion, please check with his staff.

  9. Apa guna nak membela Tan Sri Isa saudara Badmoonrising? Setiausaha Syarikat FGV tak mampu berbuat demikian kalau bukan dari arahan Tan Sri Isa.

  10. It is obvious that Isa got rid of Sabri for a simple motivation; money.

    Look at the almost immediate announcement after FGV published Sabri’s sumnary resignation. Pontian Plantations was acquired from Dr Chen Man Hin at RM1.204b and realized for cash.

    So expensive for so huge size, for cash?

    Then again, when is the last time we hear a deal to buy plantations in that size in cash, more over done so quickly?

    What is intriguing is the speed that the mega deal was concluded.

    However, it is not as important as the primary motivation on the deal with the said consideration was concluded so fast.

    It is obvious Isa needed cash and lots of it, for him to run for UMNO VP. There’s nothing for a 63 yrs old ex-MB likely has to offer to UMNO punters but ‘specific incentives’.

    And it’s not like he has not done this before.

    I hope someone do a police report soon.

    • I’m very interested to know if there is money politics in the current UMNO elections. If so, the extent of it.

      Past UMNO elections the Disciplinary Committee found some fellows guilty of money politics. This time we haven’t heard about it.

      Would any one care to comment, pls.

      • I read that the results are being relayed by the Divisions to UMNO HQ and announced in KL. Any possibility of “computer glitch” or anything like that?

        I’m not comparing it with DAP Dec 2012 CEC Election or trying to insinuate dishonesty on the part of UMNO but am merely asking a valid question. If any one cares to comment, I’ll appreciate it.

  11. You cannot get rid of Isa. Because saya fikir Najib terhutang budi dengan dia. Masa dia MB NS. Ada hal Najib di Port Disckson. Yang Isa tolong senyapkan. Selain dari itu, takda sebab Najib nak letak dia di tempat yang amat penting bagi kaum Melayu. Isa bukan geliga otaknya. Atau handal wataknya. Didapati bersalah politik wang di masa lalu.

    Najib dah dapat terus jadi Presiden UMNO tak bertanding. Tempat dia dah kukuh jadi PM berterusan. Satu cara nak goyangkan dia supaya sedar kelemahannya ia lah jangan pilih Khairy sebagai Ketua Pemuda dan Shahrizat sebagai Ketua Wanita. Hari ini perwakilan UMNO memilih. Lihat lah keputusannya.

    Satu cara lagi ia lah rayukan kapada perwakilan UMNO yang mengundi Naib Presiden UMNO. Kalau dapat Mukhriz dan satu orang lagi orang bahru sebagai Naib Presiden, gobar lah sedikit Najib. Bahru dia nak fikirkan mana mana tindakan dan lantikan dia yang lalu mengarut atau tidak.

    • A quote by Khairy Jamaluddin in the Star.com report yesterday:

      “At many points, in the last four years, I thought of just calling it quits but I persevered because I told myself – give it one last shot and see what happens.”

    • I think all of us can agree as to what/who is the source of these problems.

      Cant wait to hear another expose on TH pula, coming soon kah BD?

      When you appoint crooks to these kind of positions what do you expect? How will anybody have confidence in our multi-billion dollar company?

  12. […] Dokumen yg di palsu – https://bigdogdotcom.wordpress.com/2013/10/11/disclosure-of-deceit/ […]

  13. Bro..waiting for another news for TH…interesting to know what happened to Riau asset..pls get more info…

  14. DARI MENTERI SAMPAI KETUA BAHAGIAN, SEMUA KAKI PEMBOHONG.. SBB TUE UMNO BERBAU BUSUK MCM BANGKAI…

    http://umno2013.blogspot.com/2013/10/ketua-umno-bahagian-kota-raja-tipu.html

  15. […] Police report is made based on the posting on this blog, which drew nationwide […]


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