Felda fiasco: Calling it simple mismanagement by top brass is too tame

COMMENT | On April 10 2019, Minister of Economic Affairs Mohamed Azmin Ali tabled the Federal Land Development Authority white paper in parliament.

The Felda white paper is a report detailing Felda’s financial situation between 2007 and 2017, as well as new initiatives by the government to tackle the problems faced. Revelations by the paper were horrifying. Between 2007 and 2011, Felda profited with values ranging from RM 200 million up to RM 1.1 billion. In 2012, FGV Holdings Berhad , a commercial arm of Felda was publicly listed in Bursa Malaysia Securities Berhad. The initial public offering generated RM 10.5 billion.

From that point on, Felda suffered losses each year until it reached a low of RM 4.9 billion in 2017 ... Subscribe for only RM200 a year, or sign in if you're already a subscriber.To post or ‘like’ comments on Malaysiakini stories, you will need to sign in with an active paid subscription.

Bukan mis management tapi memang nak songlap sebab ada individu yang untung. Bod or top management buat paper bagi lulus dan reason untuk lulus projek rompakan tu. itu nama nya bersubahat dengan cara profesional untuk bagi isa/najib untuk merompak duit felda chedetofficial

It is a systematic and systemic disaster. It started with Najib assuming FELDA under his Ministry in 2004. One of the first scandal he did was to invest in a U.S. loss making company. Once he got emboldened, he went ahead to destroy everything.

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