No more politicians at GLCs? FGV appointment may signal change is coming

SOME eight months ago, the nation was abuzz when they found out that Nurul Izzah Anwar was made a senior advisor to the prime minister (PM) on economics and finance. People did not take lightly the fact that she was joining the office led by her father, Datuk Seri Anwar Ibrahim. And rightly so. 

The Princess of Reformasi’s appointment was eventually overturned a few months later. But it did not stop a number of other high-profile politicians finding themselves perched at various government agencies. Among them were Umno secretary general (Datuk Dr) Asyraf Wajdi Dusuki as chairman of Majlis Amanah Rakyat (Mara) and former Machang MP Datuk Ahmad Jazlan Yaakub to Felcra Bhd. 

And there was palpable anger on the ground. It was as though the unity government — clubbing together Pakatan Harapan (PH) and Barisan Nasional (BN) along with coalitions from the regions of Sabah and Sarawak — was behaving just like the Perikatan Nasional (PN) government earlier. 

When Tan Sri Muhyddin Yassin took over the prime ministership, he appointed many lawmakers to various government bodies and government-linked corporations (GLCs). The reasons were obvious. He wanted to ensure that he could call on their support for the government at the federal level. 

But the tide may be finally turning on the appointments of lawmakers and politicians to GLCs and government agencies. 

On Sept 26, Felda Global Ventures Holdings Bhd (FGV) appointed a former civil servant as its new chairman, potentially signalling a change of policy when it comes to placing politicians in cushy positions. 

FGV made the appointment of Tan Sri Rastam Mohd Isa, 72, in an exchange filing to the local bourse. Rastam, the former secretary general of the Ministry of Foreign Affairs of Malaysia from 2006 until 2010, was also the former chairman and CEO of the Institute of Strategic and International Studies Malaysia (ISIS) where he served from 2015-2020. 

Rastam is also a diplomat. He served as the high commissioner to Pakistan (1994-1996), ambassador to Bosnia Herzegovina (1996-1998), ambassador to Indonesia (1999- 2003) and permanent representative to the United Nations in New York (2003-2005). Upon retirement, he was made the nation’s special envoy of Brunei. 

This diplomat and civil servant is backed with credentials for the chairmanship of the largest plantation group in the world. 

So, it looks like the government has reverted to placing safe hands at government bodies and GLCs. 

The FGV chairmanship is a much-coveted post. Umno warlord Tan Sri Mohd Isa Abdul Samad held the position from January 2011 to June 19, 2017. His departure was surrounded by controversies regarding deals involving the palm oil giant. 

But Mohd Isa was no pushover. From FGV, he landed himself the position as the chairman of the Land Public Transport Commission (SPAD). This happened under the watch of Datuk Seri Mohd Najib Razak. 

So, it would not be surprising if there were politicians eyeing the chairmanship of FGV, which raised RM4.5 billion from its listing on Bursa Malaysia in 2012. In that year, FGV was the world’s third-largest IPO. 

Is change coming? 

“I believe so,” said a senior corporate. “This government is doing its best to prevent politicians at GLCs. Nevertheless, their coalition partners might still want their candidates to take over.” — pic BERNAMA

  • Habhajan Singh is the corporate editor at The Malaysian Reserve. 

  • This article first appeared in The Malaysian Reserve weekly print edition