RECENT news reports highlighted that the Felda community has rejected moves for FGV Holdings Bhd to be taken over by a third party. According to one newspaper report, the Felda Settlers Consultative Committee, which represents more than two million Felda community members nationwide, protested against a third party that is allegedly trying to take over majority shares in FGV.
I feel compelled to point out that for the last three years Felda has been faced with a number of issues that has tainted its name, ranging from massive losses in the billions and liquidation of several subsidiary companies to the termination of employees. It has also been burdened with a ballooning debt and an almost empty cash-flow position due to years of mismanagement and abuse.
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