PKR: Felda settlers shortchanged RM35,000
PKR said today that going by its calculations, Felda settlers should get a RM50,000 windfall from the proposed listing of Felda Global Ventures Holdings Bhd (FGVH) and not just RM15,000 as announced by Prime Minister Najib Abdul Razak.
PKR said today that going by its calculations, Felda settlers should get a RM50,000 windfall from the proposed listing of Felda Global Ventures Holdings Bhd (FGVH) and not just RM15,000 as announced today by Prime Minister Najib Abdul Razak.
According to party central committee member Wong Chen (right), at an estimated listing price of RM4.65 per share, Felda stands to make RM5.6 billion from the listing exercise.
This is about three times more than the RM1.689 billion announced by Najib today.
“PKR wants Najib to be frank with the rakyat by saying that only 30 percent (that is RM15,000 per household) will be distributed to the settlers.
“The BN government must detail how the remainder of RM3.942 billion will be spent,” he told reporters at the PKR headquarters in Tropicana, Petaling Jaya.
Wong said Felda should get the RM5.6 billion from selling its 59 percent stake in FGV, which equates to about 1.2 billion shares.
Based on the prospectus, he added, FGV should be able to raise RM4.557 billion for its own purposes from the listing exercise.
'Consider the cheating cases'
PKR director of strategy Rafizi Ramli, who was also at the press conference, said the RM5.6 billion reaped by Felda should be distributed in full to the settlers as the money was gained from the backs of the settlers who toiled on the land. 
“The 840,603 acres is mortgaged to FGV, resulting in the high value of the listing. Without the land, which was taken by Felda in the name of the settlers, the listing will fail,” Rafizi (left) said.
PKR's Subang MP R Sivarasa, who was also present, said the RM15,000 to be given to each settler household, while “not a small amount”, was little when one considered the oil extraction rate cases filed in court.
Sivarasa, who is representing the settlers in several cases against Felda, said in some of the cases that have been filed, the settlers alleged they were cheated of RM15,000 to RM30,000 a year.
“They were paid for 17 to 18 percent oil extraction rate but their tests showed they should be paid 26 to 27 percent.
“Translated into ringgit and sen, this means at least RM1,200 a month and the cheating had gone on for 15 years,” he added.
