MELAKA: The management of Federal Land Development Authority (Felda) has been ordered to explain its proposed sale of a hotel in the United Kingdom at a loss of \u00a360mil (RM329.9mil), says Prime Minister Datuk Seri Anwar Ibrahim.<\/p>\n
He said that he refused to approve the sale after learning that the hotel, purchased by Felda’s previous management for \u00a3160mil (RM879.9mil), was to be sold at only \u00a3100mil (RM549.9mil) and demanded a full report.<\/p>\n
Anwar, who is also Finance Minister, said it was unacceptable for Felda to incur such a heavy loss when many settlers were still struggling with inadequate facilities and low income.<\/p>\n
“Felda is under my watch. Two months ago, the Felda management sought approval to sell the hotel.<\/p>\n
“I said, ‘wait a moment, what kind of business is this?’ Selling lower than its purchase price and I refused to sign and instructed them to investigate who made the decision and submit a full report.<\/p>\n
“Felda settlers are struggling. When I visited them, they ask for basic necessities like air conditioning, school repairs and better income.<\/p>\n
“Yet Felda is willing to lose hundreds of millions of ringgit with this sale,” he said in his speech at the “Semarak Kenegaraan Programme” with the Armed Forces at Terendak Camp here on Friday (Aug 7).<\/p>\n
Anwar said the report was necessary to safeguard Felda’s integrity and ensure the institution remained financially strong for future generations.<\/p>\n
“If we fail to act, the institutions that we are proud of and committed to protect will deteriorate,” he said.<\/p>\n
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