FELDA Loses Nearly RM10 Billion Due to Mismanagement, Political Interference – PM

TAMPIN: FELDA, which once emerged as the world’s largest plantation company and generated billions in profits annually, is now suffering losses of nearly RM10 billion due to mismanagement and excessive political interference, said Datuk Seri Anwar Ibrahim.

The Prime Minister said that upon returning to lead the administration, reports received showed FELDA was burdened with debt of nearly RM10 billion, thus forcing the government to bear a huge financial burden every year.

“Eight years ago, a change in decisions emerged. Excessive political interference. Ultimately, the one that made RM10 billion in profit is now making losses.

“I have now taken over and am looking after FELDA. Why? I received a report that FELDA owes nearly RM10 billion. This is not politics, this is a fact,” he said.

He said this in a speech at the National Spirit Programme at the Syed Sirajuddin Camp in Gemas, here, today.

Also present were Chief Secretary to the Government, Tan Sri Shamsul Azri Abu Bakar; Deputy Defence Minister, Adly Zahari; and Chief of Defence Forces, Tan Sri Malek Razak Sulaiman.

Anwar said that when led by figures such as Raja Alias Raja Muhammad Ali and the late Tan Sri Taib Andak, FELDA was managed efficiently until it emerged as the world’s largest plantation company, besides generating billions in profits annually.

According to him, that success also allowed settler families to enjoy good returns and yields from developing the land schemes.

He said FELDA’s decline was not due to the settlers not working hard, but rather because those entrusted with managing the agency had betrayed the trust given.

“Did the settlers not work hard? No. The problem is that those entrusted betrayed the mandate. This is the current reality,” he said.

At the same time, Anwar said the younger generation who will inherit the country bear the responsibility of defending peace and not allowing elements that divide society to continue to grow.

He also stressed that the country will remain peaceful and safe as long as the Malay leadership position, the institution of the Malay Rulers, and the leadership of various key national institutions continue to be defended based on integrity and trust.

Berita Harian