Gov't to table White Paper on Felda finances

PARLIAMENT | The government will table a White Paper on Felda's financial situation during the current sitting of the Dewan Rakyat.

Economic Affairs Minister Mohamed Azmin Ali said the White Paper, which is in its final stages, will also outline the government's efforts to turn around Felda's finances and administration.

"With this move, the government believes Felda's actual position, and efforts to heal it will be identified and get the attention of lawmakers," Azmin told the House today.

This will be the first White Paper tabled by the Pakatan Harapan government.

The last White Paper tabled in Parliament was in 2014 on the government's plans to curb the threat of the Islamic State terror group in the country.

Today, Azmin reiterated to the House that Felda's debts to financial institutions as of June this year was at RM8 billion.

However, he said, the government is working to restructure Felda's loan, which would reduce its debts to RM6.5 billion by the end of the year.

Azmin said Felda will also sell off its assets, including its hotels in London, to help manage the agency's debts.

The previous Felda administration had said that it would sell its assets, including the RM543 million Grand Plaza Serviced Apartment hotel in Bayswater, London, last year, but there have been no updates on the sale progress.

Azmin was responding to Hassan Karim (PKR-Pasir Gudang) who wanted to know the status of Felda's cash flow. - Mkini