Anak: EGM delegates being bribed to back Felda listing

Anak, the PAS-linked NGO fighting for the rights of Felda settlers, has expressed deep concern about attempts to bribe delegates to the Feb 8 extraordinary general meeting (EGM) of Koperasi Permodalan Felda (KPF).

"We have learnt about some individuals approaching the delegates,” Anak chairperson Mazlan Aliman claimed.

"We are worried that bribes are being offered to the delegates to support the proposed listing of KPF-controlled Felda Global Ventures (FGV)."

He called on  Malaysian National Cooperative Movement (Angkasa) - the umbrella body for cooperative societies - to monitor the situation, in order to head off such attempts.

KPF is one of the largest cooperative societies in the country with RM1.46 billion in funds and over 200,000 members.

Mazlan further alleged that a windfall payment will be paid out if FGV is listed, and that this would be announced to entice support for the move when the EGM is opened by premier Najib Abdul Razak.

"However the payment will come from 6 percent of KPF's own equity which will be liquidated for the payout. There is no windfall, it is their own money.

"Our worry that it is the settlers’ own money that will be used to trick them into agreeing to FGV's listing.”

Mazlan was speaking to reporters after submitting a seven-page protest memorandum to Angkasa in Kelana Jaya today.

Hidden agenda?

Anak is leading a movement of KPF members who are vehemently opposed to the listing of FGV.

This is being pushed by Felda chairperson Mohd Isa Samad, who also heads the settlers’ cooperative society.

The NGO claimed that the listing is a front to siphon off KPF's funds and assets in Felda Holdings and other subsidiaries. It accused Isa (left), a former Negri Sembilan menteri besar, of masterminding the move.

In the memo they listed one possible move, quoting unnamed sources as informing them that 35 percent of the KPF stake in FGV, once listed, will be transferred to a holding company that will then retain economic control over dividends and the shares.

Mazlan said he fears that the move will not only dilute the KPF stake in FGV, but also its interests in Felda Holdings and other subsidiaries as part of the agenda of certain quarters.

Asked to provide proof, Mazlan said the details will be disclosed later.

He announced that Anak will file an injunction to stop the EGM from taking place, and file a legal challenge against the validity of Isa's appointment as KPF member and chairperson, as this ‘contravenes’ the cooperative society’s constitution.

Mazlan said a KPF member must have held membership for a number of years, as per the cooperative society’s charter, and cannot be catapulted to the chairperson’s post, as Isa has been.

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