Settlers not forced to sign financing forms to purchase FGVH shares
KUALA LUMPUR, June 21 — Felda settlers have never been forced to sign the financing forms to purchase the Felda Global Ventures Holdings (FGVH) shares, Deputy Minister in the Prime Minister's Department Datuk Ahmad Maslan said.
In fact, he said briefing sessions had been held at each Felda settlement office since April 24, to explain to the settlers matters concerning FGVH share subscription process, the needs, the advantages, the risks and the financing terms underlined by the appointed banks.
Ahmad said this in a written reply to Mohd Nasir Zakaria (PAS-Padang Terap) at the Dewan Rakyat today.
Mohd Nasir had wanted to know whether the settlers had been forced to sign the financing forms as most forms were written in English and were not properly understood by the settlers.
On Datuk Dr Mohd Hayati Othman's (PAS-Pendang) question about the fund used to give the windfall money to the settlers, Ahmad said the first phase of the payment would be funded by Felda using its internal fund, while waiting for the revenue from the selling of FGVH shares.
"The second and third phase of the payment will be made using the revenue from FGVH, which is expected to be paid from July 2012.
"The first payment of RM5,000 each has been paid to the settlers last month.
Overall, Felda has allocated RM1.69 billion to give the windfall money," he added. — Bernama