Settlers to gain 20pc of FGVH listing share profits, says Najib
JENGKA, May 8 — FELDA settlers will receive share dividends of up to 20 per cent from FELDA Global Ventures Holding’s (FGVH) listing, the prime minister said today.
Datuk Seri Najib Razak said the 20 per cent of FGVH’s share profits will go into a special “trust fund” for all FELDA settlers, promising more cash for them once the FELDA subsidiary profited from the listing.
“If FGVH profits, dividend will be given to all families of FELDA settlers. If FGVH makes an estimated profit of RM1.5 billion this year... there will be an additional RM1,331 windfall for settlers,” the prime minister said.
“Every settler will receive a ‘pink form’ for FGVH shares. From the shares you will receive dividends.
“Do not sell the shares… this is in addition to everything you will benefit from today,” Najib said to applause from over 40,000 Felda settlers here.
He stressed that the listing exercise would not in any way burden FELDA settlers, saying that they would not in any way lose ownership of their land.
“These are lies by the opposition, the land belongs to you all,” added Najib.
The listing of the plantation giant was promised by Najib to be a “windfall” for FELDA settlers, a traditional vote bank for Umno.
It is seen as important to ensuring continued support from the settlers in the upcoming general election which widely expected to be held by July.
FGVH is a 100 per cent subsidiary of FELDA, a statutory body under the Prime Minister’s Department.