Ex-Felda chairperson Isa Samad has questioned the Felda White Paper tabled in Parliament yesterday which cited conflict of interest involving him.
He said this when asked to comment on the report which said his simultaneous leadership of Felda, FGV and 39 Felda subsidiaries had led to a conflict of interest.
"In the paper, it does not say what the conflict of interest is. For instance, when it says I'm Felda chairperson and FGV chairperson," he told reporters outside the Kuala Lumpur High Court today.
The White Paper does not specifically address any individual regarding Felda Global Ventures (FGV) and Felda Investment Corporation (FIC) activities.
However, the document states that Isa's position as chairperson of the Felda, FIC and FGV institutions was a conflict of interest
The weaknesses mentioned in the White Paper include payments exceeding market prices, failure to inform Felda's board of directors on investment decisions, severe accounting malpractices, risk reporting negligence and violations of Felda's investment policy.
Isa said the White Paper's presentation was a good thing, adding that Felda settlers had many issues to contend with.
When presenting the White Paper, Economic Affairs Minister Azmin Ali (photo) said Putrajaya intends to spend RM6.23 billion in stages to revive Felda, which has been deeply in the red since 2013.
Azmin said the funds will be in the form of grants, government guarantees and loans.
Isa said he welcomed the government's intervention as a positive move.
"I hope the RM6.23 billion can be used to eliminate 50 percent of the settlers' debts as promised in the last election.
"Other steps to advance Felda have not seen much difference from what we (the BN administration) had done before,” he claimed.
On Dec 14 last year, Isa was charged with one count of breach of trust (CBT) and nine counts of receiving gratification totalling over RM3 million. He has pleaded not guilty. - Mkini
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