Report: Putrajaya eyeing RM3b rescue package for Felda
A worker collects palm oil fruit after being harvested at a plantation in Kampung Bukit Hijau, Kuala Selangor March 14, 2018. — Picture by Mukhriz Hazim
“The government will pay off RM2 billion owed by settlers to Felda and allocate RM250 million to revive abandoned housing for their children.Putrajaya may also need to issue fresh guarantees to support Felda in a possible debt restructuring for over RM13.8 billion due in coming years. While the IPO had raised over RM6 billion, former Felda chairman Tan Sri Shahrir Samad had made the shocking revelation that RM4.3 billion was unaccounted for back in 2017.
FGVH booked a net loss of RM1.08 billion for the 2018 financial year from impairments and provisions.
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