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FGV Holdings Directors Condemned For Receiving Huge Allowance Increments

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My Post 99
Source: Astro Awani & The Times

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When an organisation arranges for a general meeting, you would think that they would focus on ways to improve their operations and the livelihoods of their staff, right? 

Well, the higher-ups of FGV Holdings Berhad certainly don’t think so. 

The agenda of the Annual General Meeting (AGM) has gone viral after many condemned that a majority of the topics discussed were for the increment of director fees and their Chairman and non-executive directors, as shared by Ketari state assemblyperson Young Syefura Othman

Felda 1

She previously wrote, “Thursday, June 23, there will be a general meeting for FGV, the palm oil giant that is 80% owned by the Federal Land Development Authority (FELDA). What is the agenda of this meeting? Is it to identify (methods on) how to help the settlers? NO!”

“Check out the meeting notice. Agenda 2 to 6 is only to fill the pockets of the Chairman and members of the Board.”

She listed down the various increments discussed and approved during the meeting:

  1. The annual allowance of the Chairman, Dato Zulkefli Wahab, was increased from RM300,000 to RM480,000. An increment of RM180,000!
  2. His car allowance of RM18,000 per month will be replaced with whatever car he wants (minimum 2000cc) with an annual expenditure of RM180,000! The Chairman also has bodyguards, club allowances and more.
  3. Director’s allowance will also be increased from RM120,000 to RM150,000.

 

She criticised the board members for their greed when the people suffer from inflation.

Felda 2

“What is this? Aren’t you ashamed, members of the Felda Board of Directors chaired by Idris Jusoh (the former Chief Minister of Terengganu)? Why did MoF and the PM leave? We were told this agenda would be approved tomorrow (yesterday, June 23) as Felda, as the major shareholder, had already agreed.”

She continues: “What do the people get? RM100 only; that’s for the B40 groups. (What about the) others? Rich Malays are getting richer; the majority of Malays are getting poorer,” she explained. 

It is truly saddening to see the state of the economy and how regular folks struggle to put food on the table while the wealthy get wealthier. 

What do you think about this? Let us know in the comment section.

 

Also read: “How did a clothes selling company get it?” – MUDA Probes LRT Sri Rampai Escalator Repair Tender

My Post 2022 06 15T162434.794 1

Source: Astro Awani

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