Felda settlers give IPO a big nod at EGM

VOTE COUNT FOR/AGAINST FELDA KPF Extraordinary General Meeting

Dewan Perdana, Felda Headquarters Kuala Lumpur

1,102 FOR

   120 AGAINST

Clearly, an overwhelming majority of Felda settlers and staff (89.8 per cent) want the IPO to happen. At their Cooperative's EGM today, their delegates finally defeated repeated attempts by outsiders, led by politicians from Pakatan Rakyat, to scuttle the proposed listing, which is designed to give 112,000 Felda settler families a greater say in the running of a more global Felda. The listing of Felda, first proposed by Dr Mahathir Mohamad in the national budget in 2003, was given a new lease of life by Najib Razak as soon as he became PM 3 years ago. Anwar Ibrahim's coalition have accused Najib of trying to use the proceeds from the IPO to give business to crony banks and brokers. The Felda IPO will be one of the biggest the country has ever seen.

There were 5 spoilt votes and 15 ballots were not returned.

- rocky's bru