Sale of Felda assets may not be profitable: Azmin

21 Nov 2018 / 19:09 H.

KUALA LUMPUR: Economic Affairs Minister Datuk Seri Mohamed Azmin Ali has voiced concern that the government may not be able to sell Federal Land Development Authority (Felda) assets at a profitable price.

He said the assets were purchased at prices which were higher than the market price.

“Even if we decide to monetise these assets, we wouldn’t be able to get back the full value of those assets. So, this is our concern now,” he told reporters at the Parliament today.

Previously, Mohamed Azmin was reported to have said that Felda would dispose off its non-strategic assets as part of a recovery plan to reduce Felda’s RM8 billion debt.

Meanwhile, he said the government would take the necessary steps to ensure the future well-being of Felda settlers once the white paper on Felda’s management is presented in Parliament.

Mohamed Azmin said the white paper, which would include Felda’s latest financial statement, was in the midst of being finalised.

“It is very serious, I have already seen the draft but the ministry is looking into the details,” he said, adding that the presentation of the white paper was important as the settlers needed to be aware of the true situation faced by Felda.

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