Employees of plantation conglomerate Felda Global Ventures Holdings Bhd (FGVH) will bid adieu to their friendly and soft-spoken group president and chief executive officer Tan Sri Sabri Ahmad whose term is expiring next Monday.
Many industry observers describe Sabri’s three-year stint at FGVH as akin to an extreme roller-coaster ride, especially in the journey towards listing the country’s most high-profile and politically connected plantation group on Bursa Malaysia in mid-2012.
Back in 2010, Sabri, who succeeded Tan Sri Bakke Salleh, joined the Felda Group during one of its most challenging periods when the conglomerate came under attack from detractors over its management acumen and investment-related matters, among others.
It is safe to say now that many of the grouses and complaints have somewhat fizzled out after FGVH’s successful initial public offering exercise.
So will Sabri, who turns 66 this year, be taking a long break from the domestic palm oil scene after his sojourn at FGVH?
Apparently not.
Sabri is now being touted to helm the executive chairmanship of Biodiesel Malaysia Sdn Bhd, a newly set-up consortium endorsed by the Government and the Malaysian Palm Oil Board (MPOB).
To many industry observers, taking charge of the national biodiesel agenda would certainly not be a ride in the park for Sabri, given the fledgling status of the biodiesel sector, where some existing pioneering concerns are still struggling to take off smoothly since the biodiesel hype of the mid-2000s.
Sabri has been given the task to spruce up the domestic biodiesel sector by way of strategically pooling together oil palm plantation companies, biodiesel producers and petroleum companies to take up stakes in the consortium.
Backed by his over 30 years of experience in the oil palm sector, Sabri is considered to be the best choice to undertake such a task in facilitating and accelerating the development of a sustainable biodiesel industry in the country.
Given Sabri’s exposure at top plantation Government-linked companies holding key posts at the now-defunct Golden Hope Plantations Bhd, Sime Darby Bhd and FGVH, as well as having been the MPOB chairman in the past, he has accumulated expertise in supply chain management, international marketing, logistics, branding and downstream activities such as refining and biodiesel.
Industry observers also opine that Sabri’s short stint as MPOB chairman from 2007 to 2010 could be considered a bonus, as he is well exposed to research and development, new technologies and innovations which he can impart to Biodiesel Malaysia.
Therefore, the development of Biodiesel Malaysia will certainly be an interesting watch in the foreseeable future, especially how Sabri tackles the issue of the current high palm oil stock level in the country and successfully assists in converting a portion of the high stockpile into biodiesel.
At present, the consortium has managed to rope in two major stakeholders - FGVH (32%) and Sime Darby (23%) - while the remaining stakes are now being offered to other plantation companies, biodiesel producers and petroleum companies.
Deputy news editor Hanim Adnan is wondering if Biodiesel Malaysia would be the answer to the Government’s strategy to revive the biodiesel sector, reducing the palm oil stock and helping stabilise the subdued crude palm oil prices.
