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KUALA LUMPUR: The Federal Land Development Authority (Felda) has clarified that the Assignment for Financial Service Reserve Account (FSRA) agreement is meant, among others, to enable the agency to restructure its financial commitment in relation to the interest rate charged and writing off 80% of the settlers’ bad debt amounting to RM8.3bil.
KUALA KUBU BHARU (March 9): The Federal Land Development Authority (Felda) now owns a 77% stake in FGV Holdings Bhd, Minister in the Prime Minister s Department (Economy) Datuk Seri Mustapa Mohamed said.
He said, following this, Felda only needed another 13% equity interest in the plantation group to delist the company from Bursa Malaysia.
According to him, the majority shareholding in FGV was in line with the government s aspiration to help Felda revive and strengthen its financial position, which would also benefit the settlers.
“One of the ways towards the recovery process is to restructure loans by issuing sukuk guaranteed by the government amounting to RM9.9 billion.
Tuesday, 09 Mar 2021 10:23 PM MYT
Datuk Seri Mustapa Mohamed speaks to members of the media during his visit to the National Food Warehouse site in Sungai Tengi Selatan, near Kuala Kubu Baru, March 9, 2021. Bernama pic
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KUALA KUBU BARU, March 9 The Federal Land Development Authority (Felda) now owns a 77 per cent stake in FGV Holdings Bhd, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said.
He said, following this, Felda only needed another 13 per cent equity interest in the plantation group to delist the company from Bursa Malaysia.