[UPDATED] FGV AGM: all 13 resolutions passed, including allowance hike for board members

KUALA LUMPUR – All 13 resolutions tabled at FGV Holding Bhd’s annual general meeting were passed today, including the allowance increment for its board of directors and reappointment of members due for retirement.

Most of the resolutions drew criticism as the proposed allowance increment for chairman Datuk Dzulkifli Abd Wahab was from RM300,000 to RM480,000 and the director’s allowance was to be increased from RM120,000 to RM150,000.

One of the resolutions is to reappoint PricewaterhouseCoopers to act as auditors for the financial year ending December 31, 2022 and to authorise the board of directors to determine their remuneration.

FGV shares opened at RM1.51 today and closed at RM1.50.

Meanwhile, Ketari assemblywoman Young Syefura Othman of DAP again slammed FGV, questioning the fate of Felda settlers and the public who are faced with the rising cost of living.

She said the FGV chairman is now getting an annual allowance of RM480,000 (RM40,000 monthly) while each member of the board gets RM150,000 annually (RM12,500).

“In total, the approved allowances for the board of directors amount to RM1.38 million, excluding allowances for other committees,” she said in a statement today.

She added that the monthly allowances for FGV’s chairman are higher than those of other GLCs such as Tenaga Nasional Bhd (RM30,000), Telekom Malaysia (RM30,000) and Petronas Chemical Group (RM24,000).

Earlier, PKR’s Datuk Seri Anwar Ibrahim and Hassan Abdul Karim described the increments as “obscene” . – The Vibes, June 23, 2022