Despite share price plunge, Najib insists FGV still has ‘prospects’

Prime Minister Datuk Seri Najib Razak distributing dividends to Felda settlers in Pekan, Pahang on July 12, 2015. — Pic by Kamles Kumar/MMO
Prime Minister Datuk Seri Najib Razak distributing dividends to Felda settlers in Pekan, Pahang on July 12, 2015. — Pic by Kamles Kumar/MMO

PEKAN, July 12 — Prime Minister Datuk Seri Najib Razak told Felda settlers tonight that despite the Felda Global Ventures’ (FGV) dwindling share prices, the public-listed plantations firm still has good “prospects”.

The Pekan MP, in his speech to settlers at his Pahang constituency tonight, said there was only a “slight reduction” in FGV’s share value, although prices fell by 50 per cent since the firm first went public.

“When we publicly listed FGV, people say that we will go bankrupt. But we are still surviving. I understand the share prices have gone down a little, but the prospect is still there,” he said during his speech at a break-of-fast event with Felda settlers here today.

Najib added that despite the plummeting stock prices, Felda settlers have still reaped the gains through annual dividends.

“The dividends are still being given out every year. The latest dividend I announced at RM600 and also other aids like for Raya, you all get another RM300.

“You also have profited from the Felda Cooperation which has been making an income,” he told the Felda settlers.

The Umno president also said after he took charge as Felda minister, he has done a lot for the settlers including providing settlers with interest-free loans of up to RM40,000 for house renovations.

“Since I’ve been Felda minister a lot of initiatives I have done now is just about following through.

“Only thing I cannot do is set the oil palm price. No one can set the oil palm price it depends on the world market price. Any PM cannot set it, if it goes up it goes up. We cannot say is due to the PM. No PM in the word can control fuel prices,” he told the crowd of over 500 today.