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Monday, April 16, 2012

AdilanClub: Give free FGVH shares to FELDA settlers, PKR tells Najib

Sulaiman Kamal | 4:01 PM | | | Best Blogger Tips

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KUALA LUMPUR, April 16 — PKR demanded today that Datuk Seri Najib Razak fulfil his promise of an “unimaginable windfall” to FELDA settlers by offering the group free shares when FELDA Global Ventures Holdings (FGVH) goes public next month.

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PKR vice-president Nurul Izzah Anwar (picture) said this was the only true definition of “windfall”, adding that without offering the free shares Najib and the Barisan Nasional (BN) government would be squandering away the years of sacrifice and hard work of settlers in the land development scheme.

She repeated her earlier allegation that under the planned FGVH listing, FELDA settlers and workers would be compelled to take loans from selected banks to purchase the firm’s shares, rubbishing FELDA chairman Tan Sri Isa Abdul Samad’s denial over the weekend.

Citing information from unnamed sources, the Lembah Pantai MP said that beginning today the branch managers of selected commercial banks are expected to be briefed on the proposal for “share margin financing” for these settlers.

From about eight to nine days beginning April 23 or 24, she added, the seven selected commercial banks will begin a roadshow to educate FELDA settlers and workers in all 317 estates nationwide on the matter.

“This is where they will be asked to sign application forms for funding to purchase these shares.

“These applications will then be processed between May 7 and 22. The banks will inform FELDA and all applicants on the status of their applications on or before May 22,” she told a press conference in Parliament.

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