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Govt to table report on Felda financial woes

August 9, 2018 8:00 AM
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KUALA LUMPUR: The government will table a report on the financial problems that have afflicted the Federal Land Development Authority (Felda) as well as the government's plans to recover the agency.

According to Economic Affairs minister Datuk Seri Azmin Ali, the government wants to get to the crux of the agency's cash flow problem which he largely attributed to the poor management and misappropriation by the former Barisan Nasional-led government.

"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 today.

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

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

He said its main focus is to ensure that settlers are taken care of and to assure them 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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Source: thesundaily.my

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