FGV Annual Report 2017

FELDA GLOBAL VENTURES HOLDINGS BERHAD 22 LETTER FROM OUR CHAIRMAN Dear Shareholders, Last year was difficult for all of us. Felda Global Ventures Holdings Berhad (FGV), the company we are all part of, grabbed the headlines for the wrong reasons. The outside world looked in and it found several gaps and lapses in our governance, our operational standards and in some cases, our judgment. There were revelations that shocked our Stakeholders and fingers were pointed in accusation at our leaders. It was a traumatic period. However, all that is now in the past, a past that is behind us, which we will look back upon only as lessons learnt and a reminder of a history never to repeat. DATUK WIRA AZHAR ABDUL HAMID GOVERNANCE STARTS FROM WITHIN Over the last several months, your Board and Management have worked hard to set things right, starting at the very top. The Board of Directors I chair today, is a diverse mix of independent subject matter experts and representatives of key Shareholders. We have tightened governance structures and processes across the company with greater Board oversight over the Group’s operations and its corporate exercises. Across the Group, we have started the process of reeducation, to instill the principles of good governance and accountability in all our people. Among the initiatives we have recently adopted are, the External Gift, Entertainment & Hospitality Policy and the Malaysian Anti- Corruption Commission’s Corruption-Free Pledge. STATEMENT FROM THE CHAIRMAN GE