The former prime minister calls on Pakatan Harapan-led government to reveal details of the agreement.
PETALING JAYA: Najib Razak today defended Felda’s investment in Indonesia’s Eagle High Plantations TBK , urging the Pakatan Harapan-led government to make public the agreement signed between the two companies.
Najib said the “put option” would allow Felda to sell back its 37% to EHP at the original purchase price plus the 6% annual interest charge borne by EHP. Najib said this meant that if EHP succeeded and the price of palm oil recovered, the investment would bring in huge profits. “Just admit that the main reason Felda is suffering losses now is because the price of palm oil fell below production costs after GE14.”
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