Disclose those who bought FGV shares, Mustapa dared

Faced with a possibility of a lawsuit, PAS vice-president Husam Musa today challenged caretaker International Trade and Industry Minister Mustapa Mohamed to disclose those who had purchased Felda Global Ventures Holdings Berhad (FGV) shares under the ministry quota.

“Who are the cronies who have been selected? What was the basis of their selection?

“Do the companies which bought the shares (under this quota) still hold them or have they been sold off? What were the profits made if the shares were sold immediately after the initial public offering?” he asked.

Mustapa, who is Kelantan Umno chief, last week said that he will sue Husam for purportedly alleging that the minister had distributed 400 lots of FGV shares to Kelantan Umno division chiefs.

In its initial public offering last year, 11.5 percent of FGV shares were allocated to bumiputera buyers approved by the ministry.

In contrast, only 2.5 percent of shares were allocated for purchase by Federal Land Development Authority (Felda) settlers. This worked out to 800 shares per household.

[More to follow]