Azmin: Corporate malfeasance increased Felda's debt by 1,100pc
Economic Affairs Minister Datuk Seri Azmin Ali tables the Felda White Paper in Parliament April 10, 2019. — Picture by Shafwan Zaidon
Tabling the Felda White Paper today, the Gombak MP said as the agency’s debts climbed, its profits fell by 590 per cent. He said that to fund its cost of living loan for settlers and revenue advance , Felda was forced to borrow from financial institutions, which charge an interest rate of between four and six per cent.
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