Anak demands to know status of Felda settlers’ loans
Mazlan expressed fear that the settlers may have unwittingly put their land up as loan collateral. — File picKUALA LUMPUR, June 7 — The Felda Settlers’ Children’s Association (Anak) today demanded that banks disclose the status of loans offered to Felda settlers ahead of the upcoming market listing of Felda Global Ventures Holdings Bhd (FGVH).
The group, which opposes the listing of FGVH, alleged that settlers had been asked to sign blank loan forms.
“Based on our understanding, the loan forms are valid since it was signed and even stamped,” said Anak president Mazlan Aliman, adding that individual loan amounts are reportedly in the range of RM 50,000 to RM 100,000.
Mazlan noted that although Felda settlers recently received individual blue forms for 800 units of FGVH shares worth over RM3,000, these these did not contain any reference to the bank loans.
“We seek an explanation from the banks and FGVH. Are the bank loans valid? Has the money been channelled to FGVH?” said Mazlan. “If the bank loans are not valid, the banks should declare (so openly).”
“We worry that settlers’ land will be used as [collateral], because in normal situations it is hard to get bank loans approved for elderly borrowers,” said Mazlan, adding that Anak fears that “settlers will suffer great losses” should the FGVH stock price drop after being listed on the open exchange.
Putrajaya is forging ahead with Felda’s controversial public listing this month despite criticism from some settlers and the opposition who claim that it will short-change some 112,000 Felda settlers nationwide.
Najib has given his assurance that the listing would yield profits, and earlier announced a RM1.69-billion “windfall” for all settlers throughout the country ahead of the FGVH listing.
