KUALA LIPIS: Former prime minister Najib Razak today suggested that the government safeguard the interests of FGV Holdings Berhad in any move to improve the Felda cash flow.
He said any decision must ensure that the FGV share price remains high and FGV itself is unaffected as an entity.
“The debt is actually due to replanting.
“We had an arrangement with FGV because it leased Felda land. But, whatever, this is the responsibility of the government.
“The Barisan Nasional (BN) administration was in the process of approving a Felda application to obtain a RM4 billion loan from the Employees Provident Fund (EPF) to develop Felda land,” he told reporters at a village feast at the Sungai Koyan 1 Felda Scheme here.
Pahang Menteri Besar Wan Rosdy Wan Ismail was also present.
Najib was commenting on the statement by Economic Affairs Minister Mohamed Azmin Ali that the government will consider a Felda proposal to take back more than 350,000ha of its land leased to FGV to address the problem of cash flow and debts. - FMT
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