Controversial transaction: In April 2017, Felda completed the purchase of a 37% stake in Eagle High from Rajawali for US$505.4mil, which was reportedly higher than the valuation by two independent appraisers on the company of US$264mil and US$404mil, respectively.
KUALA LUMPUR: The Agriculture and Agro-based Industry Ministry will undertake a RM1bil cash crop project in collaboration with the Economic Affairs Ministry to help restore Felda’s financial health within five years.
Its minister Datuk Salahuddin Ayub said the decision was made during the National Physical Planning Council meeting on Thursday with Economic Affairs Minister Datuk Seri Azmin Ali who tabled the new approach.
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