Hadi: Foreigners to benefit more from FGVH

PAS president Abdul Hadi Awang today accused Umno of betraying the interests of Malays because the Felda Global Ventures Holding (FGVH) a significant portion of shares are distribute to foreigners.

In a press release today, Hadi pointed out that Felda settlers and staff were only allocated 2.5 percent and 3 percent of the shares respectively.

“However, foreign companies will control up to 20 percent of the shares under FGVH. It is (therefore) possible that foreigners will own Felda assets after the shares are sold,” said Hadi.

Hadi also said that the problem was not just over the distribution of shares, but also the loss of national land which was a betrayal of the nation.

“This is a betrayal of the Malay race, and PAS appeals to all Malaysians to replace Umno with Pakatan Rakyat immediately,” said Hadi.

“Furthermore, this state of affairs is being conducted by a person whose involvement in corruption is admitted by his party,” added Hadi, in reference to Felda chairperson Mohd Isa Samad who wasonce suspended by Umno on corruption charges.

The FGV prospectus was launched on June 1st, involving more than 40,000ha of Malay reserve land.

However, the listing has been criticised by many parties, including PKR director of strategy Rafizi Ramli who claimed that the land will be held by companies which are not fully bumiputera owned.