KUALA LUMPUR: More police reports are expected to be lodged over the alleged mismanagement at the Federal Land Development Authority (Felda), Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said.
He told this to reporters following the tabling of the Felda White Paper in the Dewan Rakyat today when asked about a police report filed by Felda alleging that it was deceived into acquiring a 37% stake in Indonesia’s Eagle High Plantations PTK (EHP) in 2015 by the then Finance Minister Datuk Seri Najib Abdul Razak.
According to news reports, the price for the stake in EHP was deliberately inflated by almost 450% to RM2.3 billion even though it was valued at only RM440 million at the time of purchase.
Commenting on the matter, Azmin said the government has issued a notice to EHP early this year to exercise its option to sell Felda’s stake back.
Earlier, Azmin told the Dewan Rakyat that, among others, RM2.7 billion of Felda’s funds was allegedly used to win political support during the 14th general election.
He said the government has agreed to channel RM6.23 billion to Felda in the form of government grants, loans and guarantees as required, and targeted five years to restore the agency’s financial position. — Bernama
