A reality check for Felda

Debt facility: Felda headquarters in Kuala Lumpur. It is believed that Felda has to take out a loan amounting to about RM2bil from a local banking group to finance its purchase of Eagle High Plantations.

BACK in 2012, the Federal Land Development Authority (Felda) gained a whopping RM5bil in gross proceeds from the listing of its then unit, Felda Global Ventures Holdings Bhd (which has since been renamed FGV Holdings Bhd) on Bursa Malaysia.

Fast-tracked six years later, Felda is now saddled with a huge debt of RM8.025bil.