KUALA LUMPUR (Nov 21): Federal Land Development Authority (Felda) has acquired some of its assets at prices "much higher than market price", said economic affairs minister Datuk Seri Azmin Ali.

Speaking to reporters at the Parliament lobby today, Azmin said because of the high premium to buy these assets, the government is concerned that Felda may not able to retrieve the full value of the price it paid for these acquisitions.

"The properties and assets were bought at higher premium, not at market price, much higher than market price, so these are the issues. Even if we decide to monetise those assets, we will not be able to get back the full value of those assets, so this is our concern now," he said.

Azmin also said preparation of the White Paper on Felda is in its final phase now, and it is expected to be tabled in the current Dewan Rakyat sitting.

"We are in the final phase now, we have conducted external audit to ensure that we get the true picture of Felda's financial position, so that Felda settlers can understand the actual situation today, and what are measures to be taken by the government to guarantee their future welfare is taken care of.

"I have seen the first draft (of the White Paper), but the ministry is looking into more details, you must understand that some of the issues are being investigated by MACC, so we are not privy to the details and we are not supposed to encroach into that matter," he said.