PUTRAJAYA’S white paper on Felda will expose how the former management was “fraudulent and irresponsible”, which plunged the historic land scheme into serious debts, said Economic Affairs Minister Azmin Ali. 

The white paper to be tabled tomorrow will also propose new, sustainable and long-term recovery plans for the land agency, Azmin said.

“This (white paper) will give the true situation of Felda,” he said yesterday after attending a ceramah in Rantau ahead of the by-election on Saturday.

“The settlers must understand that the former management (of Felda) was fraudulent and irresponsible.”

Azmin said a forensic audit by an independent professional body was carried out and its findings will be revealed in the white paper.

He added that the Felda business model had deviated from its original objectives, hence the need for the white paper on long-term recovery plans. 

“We must have a long-term recovery plan for Felda because it has deviated far from its original objectives.”

The cabinet met last Friday not only to discuss its financial situation but also steps to take to guarantee settlers’ future.

“We hope that this will guarantee the future of the settlers and Felda’s institution,” he said, adding that settlers will be included in the new proposals.

Felda needs to emulate other private oil palm companies which have reaped massive profits, he said.

“Private companies have been profitable by using new technology to manage crops and plantations. The question is, why hasn’t Felda recorded these profits? 

“We need to find ways to achieve economies of this scale.”

The tabling of the white paper, scheduled on December 10, 2018, was postponed during the last meeting in Parliament on the advice of the Attorney-General’s Chambers in view of certain legal issues which needed to be resolved. – April 9, 2019.