KUALA LUMPUR, June 25 — FGV Holdings Bhd’s biggest shareholders have rejected three resolutions pertaining to directors’ fees.

Chairman Datuk Wira Azhar Abdul Hamid said the shareholders are the Federal Land Development Authority (Felda) with 33.7 per cent; Koperasi Permodalan Felda Malaysia Bhd (KPF) (five per cent), and the Armed Forces Fund Board (LTAT) (1.25 per cent).

"This is a historic event, and right now the board members are currently discussing as to what is the most appropriate thing to do, so they are looking at the options as to how to resolve this.

"What concerns us most is the interests of the company, so we want to make sure whatever decision that we make does not only represent one shareholder’s interests in mind but we have the interests of all shareholders in mind and also the interests of the corporation,” he said at the press conference after the company’s AGM here today.

The resolutions were to approve the payment of directors’ fees for the financial year ended Dec 31, 2018, the payment of a portion of directors’ fees payable from June 26, 2019 until the next Annual General Meeting (AGM), and the payment of benefits payable from June 26, 2019 until the AGM.

The other resolution which was also not approved was authority for directors to allot and issue shares pursuant to Section 75 of the Companies Act, 2016. — Bernama