The Kuala Lumpur High Court yesterday granted the application of Koperasi Permodalan Felda (KPF) and a board member to cancel the cooperative's 31st annual general meeting scheduled on Dec 27.
Harakahdaily reported that Justice Abang Iskandar Abang Hashim also granted leave to KPF to challenge the decision of the Cooperatives Commission Malaysia (SKM) on the same matter.
SKM had nullified the June 20 AGM and instructed KPF, in a letter on Dec 4, to hold another AGM to sort out internal conflicts, including the selection of members of the board of directors for the 2012/13 term.
PAS-linked settlers' rights NGO Anak has questioned the appointment of Federal Land Agency (Felda) chairperson Isa Samad as KPF chairperson and Felda general manager Faizoull Ahmad as KPF secretary.
KPF had despite stiff resistance approved the proposed listing of Felda Global Ventures Holdings Bhd (FGV) in April. FGV was listed in June.
Resistance arose as settlers argued that disposing of KPF's 51 percent stake in Felda Holdings in exchange for a smaller stake in FGV would not benefit the cash-rich cooperative.
FGV was eventually listed without KPF and a special purpose vehicle was set up to directly disburse dividends from FGV profits to the 112,000-odd settlers.
FGV is fully-owned by Felda, a statutory body under the Prime Minister's Department.
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