DON’T HIDE FELDA’S NEGATIVE CASH FLOW BEHIND ASSETS, SHAHRIR TOLD

Felda chairperson Shahrir Samad should not trumpet Felda’s RM22 billion in assets if the firm’s cash flow is in the red, said Pakatan Harapan.

“Shahrir hid the current situation, where Felda’s cash flow is negative.

“Having a lot of assets but having a problematic cash flow shows that Felda is in a bad spot,” the opposition coalition said in a statement today.

The statement was signed by DAP Raub MP Ariff Sabri Abdul Aziz, Amanah vice-president Hasanuddin Mohd Yunus and Putrajaya PKR chief Onn Abu Bakar.

The trio was responding to Shahrir’s remarks that Felda was not in dire straits, because it had RM22 billion in assets.
They cited the Employees Provident’s Fund (EPF) sale of Felda Global Ventures (FGV) Bhd last August as evidence to the contrary.

As for Sharir’s plans to sell off Felda’s assets in the United Kingdom, the trio asked whether he can ensure that the proceeds will benefit Felda settlers.

They also asked if Shahrir would probe the purchase of those assets.

Shahrir replaced Mohd Isa Abdul Samad, whose tenure as chairperson ended on Dec 31, 2016, though he remains the chairperson of Felda Global Ventures (FGV).

Shahrir has been tasked with reversing Felda financial misfortunes, to ensure the wellbeing of settlers.

– M’kini