PUTRAJAYA is leaving it up to Felda to sell stakes in FGV Holdings Bhd to anyone, including tycoon Syed Mokhtar Albukhary, said Dr Mahathir Mohamad.

The prime minister said the government is not involved in any decision concerning a possible sale.

“Maybe it is between Felda and Syed Mokhtar, maybe. That’s his doing, not my doing,” he told reporters after a visit to Langkawi today.

Dr Mahathir, who is also Langkawi MP, said he does not view the sale of plantation firm FGV to private entities as a problem, so long as it benefits the government.

“If they just hand it over, I will protest. But if we sell and the government gets money, the government is looking for money.

“Whatever we can sell, we will sell. (The only thing is) we don’t sell the country.”

At its annual convention today, Amanah urged the government to stop Syed Mokhtar’s takeover of FGV.

Dr Mahathir said some government-linked companies have had to be sold off as they were not profitable.

“We have sold government assets and properties because we have a lot of real estate, but we don’t have the capability to develop it.

“(FGV) has lost millions. If we need to sell a government-owned, loss-making company, then do it.”

When FGV was set up and listed on the stock exchange, he said, one share unit was worth RM4, but now, it is a mere RM1.

Felda, which used to make RM1 billion annually, now makes just RM250 million per year.

“Felda settlers who had taken out bank loans to buy the shares have lost money. So, we have to find a way for them to make that money back,” said Dr Mahathir. – December 8, 2019.