KUALA LUMPUR (Jan 6): Former domestic, trade and consumer affairs minister Tan Sri Shahrir Abdul Samad is replacing Tan Sri Mohd Isa Abdul Samad as Federal Land Development Authority (Felda) chairman.
According to Bernama today, Shahrir, 68, who is also Member of Parliament (MP) for Johor Baru, was picked to helm the government agency in line with the government’s aspiration to strengthen the agency’s leadership.
Mohd Isa, who assumed the post on Jan 1, 2011, will continue as the chairman of listed Felda Global Ventures Holdings Bhd (FGV).
Bernama quoted Prime Minister Datuk Seri Najib Razak as saying that under the restructuring, there is a division of responsibility towards settlers’ welfare and socio-economic status and Felda’s business.
Shahrir is the older brother of Parti Amanah Rakyat member and Shah Alam MP Khalid Abdul Samad.
Felda is facing criticism following an announcement last month that it is buying a 37% stake in Indonesia's PT Eagle High Plantations Tbk for US$505.4 million, which critics deemed overpriced.
FGV shares closed down three sen or 1.73% at RM1.70 today, valuing it at RM6.2 billion.