MELAKA: The Federal Land Development Authority (Felda) had planned to sell a hotel it owned for £100mil, although the hotel had been bought for £160mil.
The planned sale of the United Kingdom hotel two months ago would have brought a loss of £60mil (RM330mil), Datuk Seri Anwar Ibrahim said.
The Prime Minister said he had refused to approve the deal and has since demanded a full report from the Felda management, explaining the decision to sell at such a low price.
He said it was unacceptable for Felda to incur such heavy losses when many settlers were still struggling with inadequate facilities and low incomes.
“Felda is under my watch and a couple of months ago, the management came to me seeking approval to sell this hotel.
“What kind of business is this? Selling an asset for less than what it was bought for.
“I refused to sign and instructed them to investigate who made the decision and submit a full report.
“Felda settlers are struggling. When I visit them, they ask for basic necessities such as air conditioning, repairs to schools and better incomes.
“Yet Felda itself is prepared to lose hundreds of millions of ringgit through such a sale,” he said during his speech at the Semarak Kenegaraan programme with the armed forces at Terendak Camp yesterday.
Anwar said it was necessary to safeguard Felda’s integrity and ensure the institution remained financially strong for future generations.
“If we fail to act, the institutions that we are proud of and committed to protecting will eventually deteriorate,” he added.
“If we don’t (do something), no matter how long, our agencies –including Malay agencies that we take pride in and want to defend – this is what will become of them. We must correct that,” he said.
Also at the event were Minister in the Prime Minister’s Department (Religious Affairs) Dr Zulkifli Hasan, Deputy Defence Minister Adly Zahari, Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar and Army Chief Jen Tan Sri Azhan Md Othman.
