FELDA RM15-20 BAILOUT EXPECTED TOMORROW! The Felda (Federal Land Development Authority or Lembaga Kemajuan Tanah Persekutuan, formed in 1956) bombshell Taxpayer funded bailout is about to explode. Minister for Economic Affairs, Azmin Ali, will be tabling the long awaited Felda White Paper in Parliament tomorrow. https://www.malaymail.com/…/felda-white-paper-to-pa…/1741123
Felda’s detailed audited accounts for 2017 and 2018 have been suppressed by Azmin pending the release of the White Paper. But, the Auditor General, who has been sounding the alarm bells for several years, has warned us what to expect.
The AG had disclosed that between 2013-2017, Felda posted more than RM10 billion losses, while Felda Group was saddled with staggering bank borrowings in excess of RM12 billion! Azmin has also declared that Felda is broke! Refer https://www.malaymail.com/…/azmin-felda-broke-saddl…/1705296
Like the recent Tabung Haji RM20 billion Taxpayer funded rescue,this is yet another fiasco entirely of ex-PM Najib Tun Razak (whose father was known as ‘Father of Felda and Najib used to boast that he was Felda’s saviour) and his government of Malay/Muslim UMNO thieves. Like at Tabung Haji, cronyism, mismanagement, incompetence, fraud, looting, breach of fiduciary duty, embezzlement, abuse of power, plundering, you name it, you will find it there.
I warned the government of the looming disaster going back to 2017, to no avail:
Once again, we are being held hostage to the Ketuanist Umnoputra philosophy of:
MONOPOLISE THE PROFITS, SOCIALISE THE PROFITS!