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Friday, January 13, 2017

Rafizi urges Bank Negara governor to probe Felda's RM1b loan

PKR vice-president Rafizi Ramli has written to Bank Negara Malaysia governor Muhammad Ibrahim urging the central bank to investigate a loan obtained by Felda under the Anti-Money Laundering Act (Amla).
"I am requesting that an investigation under Amla be opened soon to probe whether the private finance deal involving Felda and Putra Star Investment Holdings Pte Ltd broke any laws," Rafizi said in the letter dated today.
Previously on Wednesday, he had questioned Felda's move to secure private funding of RM1 billion for a settlers' housing project from Singapore firm Putra Star.
He also wanted to know how Felda managed to obtain the loan from Putra Star, saying that even if he was one of the richest companies in the world, he would not give RM1 billion without collateral.
"What did Felda put up as collateral to get the funding," he had asked.
Felda and Putra Star signed a deal to fund the Felda New Generation Housing programme on Sept 6 last year.
Rafizi had also questioned the choice of Putra Star, saying that his brief research into the company showed that the company was just a general wholesale trade company that did not appear to have any experience with financing.
Felda chairperson Shahrir Abdul Samad had responded to Rafizi's claims, where he explained that only the second phase of the Felda New Generation Housing programme would be financed by private companies.
The funding for the first phase of the housing project came from Felda's internal sources and loans, he said.

"All projects under the first phase are done by contractors appointed through an open tender process," he said.
The agreement with Putra Star, he also said, was to fund the project under the Private Funding Initiative (PFI).
However, he also said that the second phase of the housing project, comprising 11,530 houses, could not be implemented yet as there were technical and compliance issues to the PFI agreement.- Mkini

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