KUALA LUMPUR - FGV Holdings Bhd has expressed disappointment over a move by the US Customs and Border Protection (CBP) to ban the imports of its products over allegations of forced labour.
“FGV is disappointed that such decision has been made when FGV has been taking concrete steps over the past several years in demonstrating its commitment to respect human rights and to uphold labour standards,” the world’s largest crude palm oil producer said in a statement today.
FGV said the issues raised by the CBP had been the subject of public discourse since 2015 but the group had acted on them. “FGV’s efforts are well documented and available in the public domain.”
FGV, whose controlling shareholder is the Federal Land Development Authority (Felda), said it would continue to engage with the US agency to clear its name.
At 10.10am, FGV’s share price was down 6.96% at RM1.07, giving the group a market capitalisation of RM3.9 billion. - TheVibes, October 1, 2020.
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