KUALA LUMPUR, Nov 16 — FGV Holdings Bhd (FGV) has appointed Elevate as the independent auditing firm to conduct an assessment of FGV’s operations against the 11 International Labour Organisation (ILO) Indicators of Forced Labour.
The assessment is part of FGV’s efforts towards petitioning for the revocation of the Withhold Release Order (WRO) by the US Customs and Border Protection (CBP).
Elevate is an independent sustainability and supply chain service provider with vast experience in advancing social compliance and addressing forced labour risks by applying a worker-centric approach.
“We have already had discussions with our US-based legal counsel and Elevate on the audit design and plan, which is expected to begin this month. FGV shall make further announcements if there are any material developments in respect of this matter,” the plantation company said in a filing with Bursa Malaysia today.
The update refers to the WRO issued by the US CBP on September 30, 2020 against palm oil and palm oil products made by FGV and its subsidiaries and joint ventures.
The announcement also serves as an update on the subject following FGV’s statement dated October 20, 2021.
Shares of FGV were flat at RM1.47 at close today, with 155,500 shares transacted. — Bernama