ALREADY ONE MONTH FGV STILL .................NOT REVEAL THE INVESTIGATION REPORT

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-23112016-00001
Subject	Fraud in FGV
Description	Article entitled Fraud in FGV appearing in the StarBiz dated 23 November 2016
Query Letter Contents	We refer to the media article entitled “Fraud in FGV” appearing in the StarBiz dated 23 November 2016, a copy of which is enclosed for your reference. In particular, we would like to draw your attention to the underlined sentences which are reproduced as follows:- “Felda Global Ventures Holdings Bhd (FGV) has discovered fraud in its 50%-owned unit in Turkey, which has incurred a stock loss of RM57 mil.” “We had started reviewing and communicating with management of the said subsidiary that suffered the stock losses in the third quarter. Subsequent to this, potential fraudulent acts were uncovered in the said subsidiary and these acts are currently a subject of forensic audit, Zakaria said.” “It is believed that the fraud was discovered in the middle of this year and that the matter is now the subject of a forensic investigation.” “The fraud entails the manipulation of stock figures and the forgery of signatures of board members,” a source said, adding that the units involved are Felda-Iffco Sdn Bhd and its unit Felda Iffco Gida Sanayi.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5267329