Azmin: Recovery plan for Felda ready in February

Economic Affairs Minister Datuk Seri Azmin Ali speaks during opening ceremony of the new Amcham office at Faber Imperial Court in Kuala Lumpur January 8, 2019. — Picture by Firdaus Latif
Economic Affairs Minister Datuk Seri Azmin Ali speaks during opening ceremony of the new Amcham office at Faber Imperial Court in Kuala Lumpur January 8, 2019. — Picture by Firdaus Latif

KUALA LUMPUR, Jan 8 — Economic Affairs Minister Datuk Seri Mohamed Azmin Ali today said that the management of the Federal Land Development Authority (Felda) will be tabling a recovery plan for the government-linked company (GLC) by next month.

“With regards to the (timeline for the) recovery plan, yes, there is. By February, because I want to present to the Cabinet first what are the options, and then we will table it in Parliament.

“So I must go through that process,” Azmin told reporters, after officiating the American Malaysian Chamber of Commerce (Amcham) here.

The Gombak MP was asked for an update on Pakatan Harapan’s (PH) efforts to restructure Felda as well as its subsidiary, FGV Holdings Berhad.

“We are in the midst of ensuring that Felda’s role can be recuperated. We are not just paying attention to Felda’s financial problems, but we have also asked Felda’s new management to show a full recovery plan, which would be tabled soonest, including on the role of FGV and the status of FGV,” he told a press conference.

Last month, he said the government has decided to delay the White Paper on the Felda’s issues until this year following advice from the Attorney-General’s Chambers (AGC).

The White Paper was supposed to be tabled on December 10, where it will detail how the government plans to turn around debt-riddled state plantation giant Felda.

Azmin said the White Paper, which will outline Felda’s shortcomings and possible solutions, will be postponed to the First Meeting of the Second Session of the 14th Parliament this year, in order to preserve the document’s integrity.

He said the ministry was committed to table a comprehensive and credible White Paper, with the document in the final stages of preparation prior to its scheduled tabling on December 10.

In early December, Azmin reportedly said that he had studied the first draft of the White Paper and found serious fraud involving the government agency.