No to Isa Samad as KPF chairman, says anti-FELDA listing group

KUALA LUMPUR, June 7 —The FELDA Settlers’ Children’s Association (ANAK) today said that it is against the appointment of Tan Sri Isa Samad as chairman of the FELDA Investment Co-operative (KPF).

The group, which opposes the listing of FELDA Global Ventures Holdings Bhd (FGVH), said Isa(picture) should not be a member of KPF in the first place.

“Tan Sri Isa Samad is not a settler, family member of a settler or a permanent FELDA employee,” ANAK president Mazlan Aliman told a press conference.

KPF has over 220,000 members, of whom 112,635 are FELDA settlers while the rest are FELDA employees and children of settlers.

ANAK believes that there are plans to make Isa the chairman of the KPF at the co-operative’s next meeting.

Mazlan pointed out that Isa was now the chairman of FGVH.

“This must be a trick. If Isa Samad becomes chairman of KPF, the KPF board will agree with the FGVH listing. This will be a betrayal to KPF members,” said ANAK’s economic adviser Dr Rosli Yaakop.

The former Bank Negara deputy governor said it was “not ethical to force KPF to say yes to the FGVH listing.”

ANAK said it will lodge a police report against Datuk Seri Ismail Sabri Yaakob for exempting Isa from the KPF membership requirement.

“We feel it’s an abuse of power (by Ismail Sabri). Even if the minister (for Domestic Trade, Cooperatives and Consumerism) has power to exempt, there must be valid reasons such as if KPF is in a crisis. But KPF is doing well now,” said Mazlan.

He said ANAK will seek a court declaration to retract Isa’s KPF membership.

Rosli claimed that Prime Minister Datuk Seri Najib Razak had acted ahead of the Securities Commission’s approval of the FGVH listing.

“Najib gave durian runtuh (windfall) and announced the FGVH prospectus even before the SC had approved the prospectus or given approval for the listing,” he said, saying that this was “illegal”.

Putrajaya is forging ahead with FELDA’s controversial public listing this month despite criticism from some settlers and the opposition who claim that it will shortchange some 112,000 FELDA settlers nationwide.

Najib has assured the settlers that the listing would yield profits, and has announced a RM1.69 billion windfall for all settlers and staff throughout the country ahead of the FGVH listing.