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KUALA LUMPUR: Felda Global Ventures Holdings Berhad (FGV) has reiterated that the company is not involved in any conspiracy or personal agenda in conducting the internal investigation (Domestic Inquiry) process on suspended group president Datuk Zakaria Arshad and three other senior management staff.

In a statement today, FGV said at this point of time, the decision made so far was to allow the four to take leave of absence with full pay and benefits.

"This investigation is considered a fiduciary responsibility of the Board in order to discharge its duty of care to the listed company and its shareholders.

"FGV, which is committed to good corporate governance practices, will ensure that the Domestic Inquiry is conducted in a fair and just manner.

"Moving forward, FGV is committed to strengthen its operations and business performance to the best interests for all shareholders," the statement said.

The company also said that the Domestic Inquiry will focus on the Safitex debt issues.

On June 19, a statement from the Prime Minister’s Office stated that Datuk Seri Idris Jala’s report confirmed that there were sufficient facts and grounds warranting the FGV Board to initiate disciplinary proceedings against its chief executive officer, chief financial officer and two other senior management officials in relation to alleged breach of procedures.

Idris was appointed by the government as the third party to establish the facts of the case.

"The accusation of linking FGV Board harbouring a personal agenda to bring down a senior member of management is unwarranted.

"If these accusations continue, they may derail FGV’s focus on core business improvement plans, value creation and the Board’s execution of its fiduciary duties as expected by all stakeholders and shareholders," the statement said.

The statement was issued in response to several reports alleging a conspiracy within FGV to make its CEO the "fall guy."

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