In a brief statement, Felda said Shabery played a huge role in revitalising the ecosystem between the government agency and its subsidiaries, including expediting the impending delisting of FGV Holdings Bhd from Bursa Malaysia.

FGV Holdings was listed on Bursa Malaysia on June 28, 2012 to great fanfare.

The initial public offering raised about RM10.5 billion, giving it a market capitalisation in excess of RM16 billion and was hailed as the world’s second-largest IPO that year after Facebook.

“The Felda management and personnel would like to thank Shabery for his leadership and contributions,” Felda said.

Shabery was appointed as Felda chairman in July 2023.

The former communications and multimedia minister succeeded Idris Jusoh, a former Terengganu menteri besar.