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Published: Wednesday May 9, 2012 MYT 12:00:00 AM
Updated: Sunday May 26, 2013 MYT 8:53:08 PM

Windfall totalling RM1.689bil for first generation settlers in 317 Felda schemes

JERANTUT: Each of the 112,635 first-generation settler family in 317 Felda schemes nationwide will receive RM15,000.

Datuk Seri Najib Tun Razak announced the much-anticipated windfall totalling RM1.689bil at Felda Jengka 8 near here to the thunderous applause of some 30,000 settlers followed by three shouts of “Hidup Felda (Long live Felda)”.

The Prime Minister said the first RM5,000 would be paid to the head of the household within three weeks from yesterday, the second to the wife and the third to their children after June.

“The settlers also stand to gain dividends from profits derived from the listing of Felda Global Ventures Holdings Berhad on Bursa Malaysia next month through a special trust fund of 20% stake in the post-listing entity.

“Based on projected profits of RM1.5bil this year, each family will receive RM1,331,” he added.

Najib said the settlers would also be given the opportunity to acquire shares in FGVH through blue forms for the IPO (initial public offering).

He said the settlers would continue to receive dividends from their investment in Koperasi Permodalan Felda and other benefits such as bonuses, Hari Raya payouts and housing loans, as well as assistance such as training in entrepreneurial and other skills and chronic ailment aid.

As for those who had opposed the FGVH listing, Najib said he left it to their conscience to decide whether to accept the payment.

He said the windfall was in recognition of the hard work put in by the honest and loyal settlers who had toiled on their land over the last 56 years.

The Prime Minister said: “Lurah Bilut (in Bentong) is where Felda was started by my father Tun Abdul Razak. Today, we see a transformation of his legacy to a new chapter. This marks a new beginning and final phase in the 21st century for Felda.”

Najib said Felda staff members were also not forgotten as all of them would be given two and a half months' bonus.

He said the payments were in keeping with the Government's commitment to the well-being of the people.

Related Stories: Gift for those who toiled on the land Settler families laud biggest ever bonus payout

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