Friday, August 5, 2011

Who bankrupt Felda and Malaysia?

Dear Najib,

Salam. I read with great interest today papers about your comments. In it you were quoted that those
who talk bad about Felda & called it bankrupt are to be regarded as traitors to the Nation. The sad truth is that after you took charge of Felda in 2005, you turned what was a very successful organisation into a financial nightmare. In fact you are the traitor who has stolen the poor peneroka's money. I am sure you know that for the next General Election, Felda schemes & their votes determine about 60 Federal Parliament Seats. From my feedback, many of the peneroka are boiling mad. They have been exploited & taken for a ride. If what you say is true & ALL the peneroka are so happy with the UMNO/BN government, why the sudden interest in the welfare of the peneroka, Why the many cash handouts?

Please explain the following.
1. In 2001, the cash reserves of Felda was RM4.5 billion with ZERO borrowing. Recently your Deputy Minister replied that the cash reserves has plunged to RM1.2 billion. This is despite the fact that for the past 3 years, the CPO price has been very high. If you have looked after Felda properly the cash reseves should now be at least RM8 billion.

New Felda HQ in KLCC.
Said to cost RM662 million, explain how this 6 star building is going to help the poor Peneroka, many of whom only get nett RM500 per month. Why a huge deposit of RM235 million is paid even before construction started? Why was the decision made at a secret meeting in your DPM's office in Putrajaya without the knowledge or approval of the Felda board? Recently Ahmad Maslan siad this is a very good Investment as it has already made paper profit of RM300 million. Pray how did he come to this conclusion when the building is not even finished or sold??

3. Felda Global Ventures.
We know that Felda has invested at least RM3 billion on these projects. We also know that since day one it has been losing money, in fact it has lost RM300 million. Twin Rivers Project in USA , invested RM500 million. Cattle rearing project invested RM600 million, since you say we are traitors, tell us in detail what has happened . The peneroka in Felda Keratong near Segamat are laughing at the imported cattle for the cattle project which have to be housed in air conditioned room 24 hours a day!

4. Why the need to borrow from EPF?
Before you started on Felda Global Ventures. Felda never borrowed from EPF. Is this borrowing secure? To all the EPF contributors beware, your money is used to finance many of these dubious schemes which Najib started

5. Skim Tabung tanam semula
In August this year I visited a Felda scheme near Kemaman and talked to a peneroka who wants to sue Felda. He has been contributing to this fund for past 17 years & has accumulated RM17,000. However when he replanted his old palm oil trees, he did not use the fund but used his own money instead. It has been 3 years now he tried to get his OWN money back, but the Felda administration has refused so far. Wonder why, if Felda is so well run & cash rich why can't even pay this poor peneroka a paltry sum?

6. Felda settlers to camp outside Felda HQ.
In October this year, there was a report that many settlers were not happy with Felda for refusing to settle their replanting payments. So this case I quoted above is widespread & happening in many schemes round the country.

7. Oil palm fruit sent to Mill
In Felda Kemahang, Kelantan. Felda lost the case as it was proven that Felda was not paying the proper amount sent to mill. It was a landmark case. On appeal Felda lost the Case. Soon after that, you visited a scheme near Bahau. Instead of respecting the court's decision you made a silly remark like Felda will engage the best lawyers & fight all the remaining cases in court. Good for you, you will make mare peneroka angry with U!


1. Subject the whole of Felda to an independent audit & publish the findings.

Felda has 43 subsidiaries
Publish all their annual reports & subject them to an audit as well !
*DR TAN KEE KWONG IS THE SON OF THE LATE TAN CHEE KHOON. He was also a former Deputy Minister of Land and Cooperative Development.

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