Felda awaiting right time to sell assets abroad, says Tok Pa

When asked by Jerantut MP Datuk Ahmad Nazlan Idris about the government's plan to restore (Federal Land Development Authority) Felda’s cash flow and manage its corporate debt, Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed said the Cabinet had approved the issuance of Felda sukuk worth RM9.9bil with government guarantees for the company's recovery plan.

He said RM6bil of that will used to reduce the amount Felda's debt.

He also said Felda is waiting for the right time to ensure that its assets abroad can be sold at a suitable price.

He said Felda's recovery plan should be assisted with help from Felda's top management and settlers.