EPF sold shares in FGV: We respect shareholders' views, says CEO

The Felda Global Ventures Bhd (FGV) said it respects the views of its shareholders and was cognisant of their prerogative to buy or sell shares as per their investment priorities.

At the same time, FGV Group President and Chief Executive Officer Datuk Zakaria Arshad urged the shareholders and members of the public to refer their questions directly to the respective organisations, instead of being misled by unsubstantiated sources.

"FGV shall continue with our focus on core business, improving productivity of existing asset and divesting non-core assets to deliver returns to shareholders and fulfill our obligation to our stakeholders.

"We continue to do this while adhering to the relevant governance procedures in a transparent and responsible manner," he said in a statement today.

Zakaria was responding to reports yesterday, citing an internal statement that went viral, that the Employees Provident Fund (EPF) no longer holds any shares in FGV.

"The EPF would like to assure all members that we practice high standards of corporate governance, with robust policies on risk control and on our strategic asset allocation.

"As of today, the EPF no longer holds any shares in FGV," the fund was quoted saying in the statement.

Zakaria said FGV remains steadfast in its commitment to unlock its full potential and bring value to FGV shareholders.

"We will continue to engage with EPF and the investing community to update on our business improvement progress.

"We join EPF in urging our stakeholders and the public at large to refer their question directly to our respective organizations and not to be misled by social media and unsubstantiated online sources," he said.