MORE police reports will be lodged over alleged power abuse and mismanagement in Felda, said Mohamed Azmin Ali.

“Certainly, there will be more police reports after this White Paper,” the economic affairs minister told reporters at the Parliament lobby today after tabling the document, aimed at getting a complete picture of the agency’s mismanagement under the Barisan Nasional administration that led to its financial woes.

The findings of the audit report on Felda, which was recently presented to the government, is being studied, said Azmin.

He gave an assurance that those involved in the alleged crimes will be brought to justice.

“We are studying the forensic audit report. Many names have come up. We will lodge police reports to enable investigations and action to be taken.

“This is criminal, not regular, negligence. Billions of the people’s money are involved.”

Asked about names that might have “escaped” the report, he said Putrajaya acts on the available facts, not hearsay.

On Monday, Felda lodged a report against former prime minister Najib Razak for allegedly cheating the agency into investing in a “one-sided deal” two years ago.

Felda director-general Othman Omar, who lodged the report with Kuala Lumpur police’s commercial crimes unit, accused Najib, who also held the finance portfolio, of having directed the agency to invest in Indonesia’s PT Eagle High Plantations Tbk (EHP).

It was reported that Felda paid 344% more than the actual value of US$114 million (RM467 million) to acquire a 37% stake in EHP, owned by Indonesian billionaire Peter Sondakh, who headed Rajawali Group and is a known friend of Najib.

The purchase was made through Felda special purpose vehicle FIC Properties Sdn Bhd.

Both Felda and FIC were warned against the acquisition by consultants KPMG Malaysia, BDO Malaysia, Indonesian law firm Hiswara Bunjamin and JP Morgan.

Azmin said when Felda “was forced” to buy the EHP stake, part of the deal was an option for Rajawali to buy back the shares.

He said a notice was issued to EHP for Felda to exercise the option.

“We have been informed that they are contesting this, and the matter is going through arbitration. Felda is pursuing this.” – April 10, 2019.