Anak questions decision to reconvene Felda co-op's AGM

The decision of the Cooperative Commission Malaysia (SKM) to nullify Koperasi Permodalan Felda’s (KPF) annual general meeting (AGM) on June 20 and order it to hold their AGM again before Dec 31 has been questioned by a PAS-linked NGO.

National Children of Felda Settlers Association (Anak) president Mazlan Aliman (right) claimed that it is an attempt by Felda Global Ventures (FGV) to get KPF to become Felda Holdings’s main shareholder.

“The conspiracy involves nullifying the AGM and making sure that two of its people would sit on KPF’s board,” he said, claiming that the two are Felda chairperson Mohd Isa Samad and acting general-director Faizoull Ahmad.

SKM had issued a letter on Dec 4 calling for KPF to hold their 31st AGM, which included a letter of authorisation rendering the previous AGM invalid and stating that the AGM would be called by SKM.

The letter stated that the basis for recalling the meeting was an internal dispute on Nov 26, which Mazlan claimed was unreasonable.

During a press conference yesterday, Mazlan furnished copies of SKM’s letter dated Dec 4 to reporters. 

The letter contained the agenda of the meeting as listed below:

1. To confirm the minutes of the 30th AGM that was held on June 23, 2011 and the minutes of the special general meeting of delegates held on April 19, 2012.
2. To present and approve the 2011 Agency Report.
3. To consider and approve the audited financial statements for the year ending Dec 31, 2011 and the reports of the internal audit committee and suggestions of SKM.
4. To consider and approve suggestions on how to divide the profits for the year 2011.
5. To choose the board members for the years 2012/2013

 

Mazlan said that this AGM is unusual as it was SKM which called for the AGM to be held on Dec 27 instead of KPF.

Isa’s status widely disputed

Isa’s status as a KPF board member has been widely disputed as it was seen as a plot to incorporate KPF as part of FGV’s listing on Bursa Malaysia.

Under the listing plan, FGV would acquire 51 percent of KPF’s stake in Felda Holdings, and in return, KPF, which represents Felda settlers, would receive part of a 37 percent stake in FGV.

KPF members have been protesting against the listing, which they claim will result in the co-operative being sidelined.

Isa, however, was not present for KPF’s AGM held on June 20 although his name was nominated for board membership. His nomination was rejected as the High Court placed an interim stayon his membership in KPF.

Eventually KPF was not included in FGV’s listing on June 28.