In February, FGV announced a net loss of RM1.08 billion in the financial year ending December 31, 2018. ― Picture by Yusof Mat Isa
KUALA LUMPUR, April 25 — FGV Holdings Bhd may trim 6,000 positions from the estimated 20,000 workers at its head and regional offices due to its RM1.08 billion loss in the previous financial years, according to sources.cited the sources as saying the job cuts were already underway and that 667 people have subscribed to a mandatory separation scheme offered last year.In February, FGV announced a net loss of RM1.
Feldal Global Ventures was previously Felda’s investment arm and was made publicly listed in 2012 under a controversial initiative by former prime minister Datuk Seri Najib Razak. The move was meant to generate sustainable income for Felda and its settlers but FGV shares are now trading at a fraction of their initial public offering value.
In a White Paper tabled recently in Parliament, Economic Affairs Minister Datuk Seri Azmin Ali described how billions were frittered away to buy political support for the Barisan Nasional administration and squandered on dubious business pursuits.
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