FELDA BANKRUPT ACCUSATIONS JUST A PLOY TO FISH VOTES FROM SETTLERS

KUALA TERENGGANU, Malaysia, Aug 5 (Bernama) -- Claims by some irresponsible people that Felda was bankrupt, was aimed at fishing votes from settlers, said Felda Chairman Dr Mohd Yusof Noor.

Mohd Yusof said due to the irresponsible accusations, Felda (Federal Land
Development Authority) had to explain the actual status to foreign business
partners.

"We had to explain the matter to our business partners in India, Pakistan,
China, South Africa and United States because they were concerned with such
news," he told reporters here, the capital of Malaysia's east coast state of
Terengganu, Wednesday night.

He added that such claims were baseless accusations because Felda was among the
best agencies when compared with other organisations.

"The management does not see a recession in Felda's income. Average income from
Felda's main business sectors, plantation and other ventures that contribute
towards income, remains strong.

"I wish to reiterate that Felda has not been affected, instead we are getting
stronger in terms of business and reputation," he said.

Mohd Yusof said the opening of a Felda Residence in Tanjung Leman in southern
state Johor, at a cost of RM32 million (US$10.09 million) in December would also
add credence to the fact that Felda has the financial muscle.

"The residence has 100 rooms and can fill 320 guests. It costs money. If we
don't have the money, how can we build this. We are not building such facilities
for fun but to provide job opportunities for Felda settlers," he said.

He added that such baseless accusations by irresponsible people may have an
adverse effect on Felda's business overseas.
-- BERNAMA