InfoSAWIT, KUALA LUMPUR –The prediction of power abuse urged the shares of Felda Global Ventures (FGV) decreased 6,4% in the first semester of 2017. This got worse for eight months in 2017. The shares were in the lowest level in the last several years.
But when the directors of FGV were substituted, that Zakaria Arshad now leads the company, the shares of the palm oil company that mostly belong to Felda, start to increase slightly about 3% to be RM 1,74/share.
Zakaria Arshad, said, next year, his side would focus in the main palm oil plantation, and try to increase the crude palm oil production, increase the yeild and do efficient operational.
“Before we convince the investors, FGV need to ensure that the business could be operating well within the consisten profit and ensure that the governance runs well in every aspect of business,” he said, as InfoSAWITquoted from The Edge Markets, last week.
After getting profits reaching RM38,8 millionor equal to US$ 9,5 millionin the third quarter, from the loss reaching RM 73,6 millionlast year, he predicted, the financial of the company would be positive compared to it in 2016. It is said, the company plans to cut off the administration costs to be less than RM 900 million. (T2)