Monday, December 26, 2011

Windfall for Felda settlers

KUALA LUMPUR: The potential listing of Felda Global Ventures Holdings (FGVH) Sdn Bhd on Bursa Malaysia should be seen as a windfall for the settlers who are also the main shareholders of Koperasi Permodalan Felda (KPF), the Dewan Negara was told Wednesday.
Deputy Minister in the Prime Minister's Department Datuk Ahmad Maslan said the restructuring would make KPF the main investor in FGVH where the settlers and their generations and staff of the Felda group make up the membership.
"Besides, the profits to be derived will be enjoyed in the form of dividends and can benefit the 224,000 KPF members, and the (income from the) surge in the KPF investment value will be distributed to the settlers by way of special awards," he said when replying to a question from Senator Datuk Yunus Kurus.
The senator had asked about the government guarantee over the future of the Felda settlers with the listing of FGVH on Bursa Malaysia.
Ahmad said the listing would not undermine the rights of the Felda settlers and staff as a whole because it only involved the leasing of Felda-owned land to FGVH.
"This means that the settlers' crop and housing land will not be affected and will remain in their possession while they and their generations will continue to receive the privileges in the form of special allocations.
"The allocations include productivity bonus, festival aid, schooling aid, tuition, tertiary institution loans, funeral aid, social programmes and Felda generation skills programmes," he said.
He also said that the listing, which was expected to take place next year, would benefit not only the Felda population but also the people and nation as a whole.

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