FIC being reorganised, board members resigning
Published on: Wednesday, January 18, 2017
ALL members of Felda Investment Corporation Sdn Bhd's (FIC) Board of Directors have been ordered to resign to facilitate reorganisation of the company. Newly-appointed Federal Land Development Authority (Felda) Chairman, Tan Sri Shahrir Abdul Samad said:" "FIC is critical to Felda. I've asked all FIC board members to resign." FIC, a subsidiary of Felda, is engaged in non-plantation activities.
ADVERTISEMENT
This is Felda's first major move since Shahrir's announcement that he would carry out a major management reshuffle of the agency. Shahrir said Bernama the resignation of the board members would pave the way for FIC's reorganisation. "We've got to have good (corporate) governance implementation, so I've asked (them) to resign. (I will) fill up (vacant directors posts). Now we don't even have a Chief Executive Officer," he said.
ADVERTISEMENT
Incorporated on July 2, 2013, FIC is principally involved in the areas of property development, hospitality and other strategic investments. Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
ADVERTISEMENT
According to FIC's website, over the brief course of its establishment, the company has entered into several strategic dealings, including an investment in IRIS Corporation Bhd, the takeover of property development company Encorp Bhd and an investment in Barakah Offshore Petroleum Bhd, which marked its first foray in the oil and gas industry. – Bernama
