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Thursday, 9 August 2018

The government will table a report on the financial problems plaguing the Federal Land Development Authority (Felda) as well as its recovery plans


Putrajaya to table report on Felda’s financial problems

Mohamad Fadli | August 9, 2018



Economic Affairs Minister Mohamed Azmin Ali says the government wants to get to the bottom of Felda's cash flow problems.

VIDEO INSIDE



Economic Affairs Minister Mohamed Azmin Ali. (Bernama pix)

KUALA LUMPUR: Economic Affairs Minister Mohamed Azmin Ali says the government will table a report on the financial problems plaguing the Federal Land Development Authority (Felda) as well as its recovery plans for the agency.

He said Putrajaya wanted to get to the bottom of Felda’s cash flow problems which he attributed to poor management by the previous Barisan Nasional administration.

“The focus of Felda’s new board members and management is to improve its cash flow and restructure loans which have reached RM8.025 billion,” he said.

“We will also sell non-strategic assets such as land, whether in Malaysia or overseas.”



He was responding to Ma’mun Sulaiman (Warisan-Kalabakan), who had asked about Felda’s restructuring process.

Azmin said the main focus was to assure settlers that cost of living allowances and returns would be given as scheduled.

Putrajaya’s decision to table the report or “white paper” comes months after the Council of Eminent Persons agreed to the establishment of a Royal Commission of Inquiry to probe Felda, which has been dogged by several financial irregularities.

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