KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) yesterday announced that Datuk Zakaria Arshad has been reinstated as group president and chief executive officer (CEO), and will resume his duties on Oct 16. When contacted, Zakaria said he is thankful for the decision to retain him as the head of the world’s largest oil palm operator. “I am committed to continue [with] the Strategic Plan 2020 [in order] to turn around the FGV Group, in line with the aspirations of FGV chairman Datuk Wira Azhar [Abdul Hamid],” he said in a brief text message. FGV had previously said that the debt had swelled to US$11.7 million from US$3.8 million in the financial year ended Dec 31, 2015. FGV’s share price closed up one sen or 0.58% at RM1.72 yesterday, giving it a market capitalisation of RM6.27 billion.

Source: The Edge Markets October 10, 2017 01:41 UTC