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Published: Saturday November 10, 2012 MYT 12:37:00 PM
Updated: Saturday November 10, 2012 MYT 2:11:28 PM

PM hands out RM563mil to Felda households

SHAH ALAM: Prime Minister Datuk Seri Najib Tun Razak on Saturday handed out RM563mil to 112,635 Felda households under the third phase of windfall handouts specifically targeted at the young generation of settlers.

Each will receive RM5,000 each.

The handout is the final instalment promised by Najib earlier this year, in line with the move to channel profits made by listing Felda Global Ventures on the stock exchange.

The first handout of RM5,000 was given to the settlers and the second RM5,000 to their wives.

"The Barisan Nasional government has never broken a promise. 'Janji ditepati' is not just a slogan," Najib told some 12,000 settlers at the Felda New Generation gathering here at Universiti Teknologi Mara.

He said the windfall was possible due to the successful listing of Felda Global Ventures Holdings (FGVH), which the Opposition tried to block.

"They only know how to condemn, incite and make empty promises. They do not seek anything beneficial, but want to ruin our good effort. Do not dream of getting RM15,000 (if the Opposition takes over the government)," he said.

From the FGVH IPO, the group managed to unlock about RM10.5bil in value, in which its principal shareholder Felda has received about RM6bil while FGVH takes up RM4.5bil for its expansion mission.

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