Hornbill Unleashed

December 27, 2016

Rafizi to use Felda-Eagle High deal to topple BN

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

PKR vice-president Rafizi Ramli plans to capitalise on Felda’s planned purchase of a 37 percent stake in PT Eagle High Plantations Tbk to take down the BN government.

He said the plan to buy a non-controling stake in the Indonesian plantation for US$505.4 million (RM2.26 billion) at a premium, was the ruling coalition’s biggest mistake.

“I’m confident that the purchase of Eagle High Plantations is the Umno and BN leadership’s biggest mistake, because it gives me the opportunity to enter Felda estates to explain in detail Najib’s responsibility in this deal,” Rafizi said in a statement today.

Describing the Felda estates as his last battleground against BN, Rafizi said a three to five percent shift in Felda voters would be enough to topple the Najib administration.

He will be lodging a police report against Najib and the Felda board of directors over the Eagle High deal this Thursday.

He will also be holding daily press conferences on the deal this week, Rafizi said.

Felda announced the planned purchase in the plantation unit of Indonesian conglomerate Rajawali Group after a failed attempt by Felda Global Ventures (FGV) to purchase the same stake.

FGV, a company listed on Bursa Malaysia, was criticised by shareholders when it proposed to purchase a 37 percent stake in Eagle High Plantations for US$680 million.

Among the critics was the Employees Provident Fund (EPF), which had since dumped all of its shares in FGV.

Another critic of Felda’s move is CIMB chairperson Nazir Abdul Razak, who has demanded the authority to justify the deal.

Felda responded to the criticisms by assuring settlers that they would not be affected by the deal.

Source : @ Malaysiakini


1 Comment »

  1. Please explain to Felda folks that even EPF has sold off its Felda stake.

    Comment by Gerry — December 27, 2016 @ 9:01 AM | Reply

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