KUALA LUMPUR (Nov 17): Aside from the 1Malaysia Development Bhd scandal, the problems at the Federal Land Development Authority (FELDA) were part of the reason why Barisan Nasional was voted out in the 14th general elections.
On Dec 10, the Pakatan Harapan government will table a White Paper on FELDA in parliament.
The White Paper will likely contain proposals to restore proper financial management and governance at FELDA.
A source says that there are at least three proposals mooted to revive FELDA, the beleaguered government agency founded in 1956 to resettle the poor and eradicate poverty, and 33.67% parent of Bursa Malaysia listed FGV Holdings Bhd (formerly known as Felda Global Ventures Holdings Bhd).
One of these proposals is a possible merger with Federal Land Consolidation and Rehabilitation Authority Bhd or FELCRA.
Read about the three proposals in the latest issue of The Edge.