Current govt ‘completed our recovery’ from debt waiver, says Felda

 

Felda said the current administration’s government guarantee of RM9.9 billion to the statutory body through the issuance of sukuk and revolving credit would ensure its longevity. (Bernama pic)

PETALING JAYA: The current government has “completed Felda’s process of recovery” from waiving RM8.3 billion in Felda settlers’ debt, says the statutory body.

“The waiver was implemented at the Felda level without any allocations being channelled from the federal government in 2021 and 2022.

“This had left a big impact on Felda’s cash flow and (financial) performance,” it said in a statement.

It added that the current administration’s government guarantee of RM9.9 billion to Felda through the issuance of sukuk and revolving credit would ensure its longevity.

“The Assignment for Financial Service Reserve Account (FSRA) agreement gives Felda the room to restructure its financial commitments while waiving the RM8.3 billion in settlers’ debt.”

This comes amid the dispute between Prime Minister Anwar Ibrahim and former prime minister Muhyiddin Yassin over the debt waiver scheme for Felda settlers.

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