Five members of Koperasi Permodalan Felda (KPF) filed an application at the High Court in Kuantan today for an injunction to prevent the cooperative from making any decision at its extraordinary general meeting on Feb 22.

This is the third application for an injunction against KPF. The National Felda Settlers’ Children's Association (Anak) has filed a similar action twice, one to prevent KPF from holding its EGM at the end of last year, and the other, this Feb 22.

Lawyer Mohd Haris Abdullah, representing the settlers, when met by reporters, said the application was made to prevent KPF from disposing all or part of its equity in Felda Holdings Berhad (FHB) to Felda Global Ventures Holdings Berhad (FGVH).

Among the grounds for the application was that the KPF’s proposal to dispose off its equity in  FHB and other subsidiaries, worth RM3.13 billion, to FGVH, would not benefit them or the KPF shareholders.

The settlers also claimed that the delegates who would attend the Feb 22 meeting were never given the mandate by KPF members to represent them at the EGM.

- Bernama