Felda and its subsidiary Felda Global Ventures (FGV) want the High Court to review and increase the RM70,000 damages from PKR President Dr Wan Azizah Wan Ismail, over two defamatory articles which appeared in the party newspaper Suara Keadilan, two years ago.
Felda's lawyer Mohd Hafarizam Harun said the damages awarded was insufficient, given the harm it had caused to the company's reputation and listing.
"The amount of damages awarded is extraordinarily low and we hope the review would help increase the quantum.
"The initial public offering for FGV was RM4.55 (per share) but has plunged to RM1.80. This shows the detrimental effect of the article," he said.
According to him, the articles, titled "Felda is bankrupt" and "Only three people made the decision, on RM662 million new office", published on June 22 and 29, 2010, respectively, had also affected the trust of 160,000 Felda settlers.
[More to follow]
-Mkini
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