KUALA LUMPUR, Dec 15 — Tan Sri Rozali Ismail has denied trying to block Felda Global Ventures Holdings (FGVH) from going public, stressing he just needed more time to study if the listing would benefit settlers.
The Felda Vision Generation Alliance (GWGF) chairman said this today when announcing the formation of a coalition with another settlers’ association, Felda Negotiation Heads Committee (JKPP), to study the merits of listing FGVH on the Kuala Lumpur bourse.
The new coalition, Gabungan Peneroka Generasi Wawasan Felda Kebangsaan (Gempak), will look through the listing proposal with an independent consultant and also act as a go-between for FGVH and the settlers, Rozali explained.
“The problem is the explanation is not organised. Now, it’s easy. Felda Global can come to us and explain, just one party. So we will deal with them...
“Until we understand the listing proposal, we will not say yes or no... We cannot be a rubber stamp. I hope Felda Global Ventures and Felda understand our constraints,” he told reporters today.
Rozali also denied claims he wanted to replace Tan Sri Isa Samad as chairman of FGVH’s parent company Felda Holdings.
“The question of post is not important to me. We work to protect the interests of Felda and the present and future generations (of settlers).
“The prime minister will decide on the posts... Whatever decision is made, we have no problem,” he said.
Last Friday, Bayan Baru MP Datuk Seri Zahrain Mohamed Hashim claimed that Rozali and former Felda president Tan Sri Yusof Noor Yusof could be working with the opposition to halt FGVH’s listing.
The independent lawmaker said inside sources had informed him that Rozali, who is Syabas executive chairman, was eyeing the Felda chairman’s post.
FGVH, the commercial arm of Felda, will be listed on the bourse by the middle of next year as the world’s largest listed plantation entity.
Prime Minister Datuk Seri Najib Razak had announced the listing in his Budget 2012 speech.
But the proposal has met with opposition from the PAS-aligned National Association of Settlers (Anak), which claims the listing will shortchange some 200,000 settlers tilling the land in Felda schemes across the nation.
Under the listing proposal, settlers will swap their 51 per cent stake in Felda Holdings — which made RM760 million last year — for a 61 per cent stake in FGVH, whose international subsidiaries lost some RM500 million up to 2010.
Anak yesterday threatened to hold mass protests next month if the FGVH listing goes ahead.
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