KUALA LUMPUR (Oct 20): Prime Minister Datuk Seri Anwar Ibrahim on Tuesday denied that prosecutions over questionable transactions in the Federal Land Development Authority (Felda) were selective, saying that investigations needed time but were never blocked.
He was replying to a question in the Dewan Rakyat from Ahmad Fadhli Shaari (PN-Pasir Mas), who asked why investigation papers were only opened on Aug 24 when the transactions took place between 2010 and 2020.
Anwar said there had been earlier investigation papers (one in 2017, four in 2019 and one in 2020), but all were filed away because there was no direction from leadership. He said serious work began only after 2022, through a special task force and a special committee that began work in earnest in 2024.
He said investigation papers were sent to the Attorney General’s Chambers (AGC) three to four times for reivew, sometimes taking months. He added that he had directed investigations to continue and had never ordered them closed.
“I accept it if it is said there has been a delay, but a delay is better than no action at all,” he said.
Anwar said Felda, Felda Global Ventures (FGV) and Felda Investment Corporation (FIC) were still under investigation. He said former Felda chairman Datuk Mohd Isa Abdul Samad had been charged and convicted. Former FIC Sdn Bhd chief executive officer Mohd Zaid Abdul Jalil and former Felda director general Datuk Faizoull Ahmad have been charged, and their cases are before the courts.
“In business there are profits and losses, so we do not prosecute because of losses. We prosecute because of mismanagement, wrong calculations and plundering (menyakau),” Anwar said, adding that the allegations were based on a 2019 white paper and the task force report, not baseless accusations.
The white paper, tabled in Parliament in 2019, revealed cash flow issues involving RM14.4 billion in liabilities resulting in the government implementing a RM6.3 billion bailout.
As an example of the damage, Anwar pointed to Felda’s investment in PT Eagle High Plantations, which fell 87.9% from US$505.4 million (RM2.063 billion) to US$61.3 million as of August 2026. He said this amounted to a loss of about RM2 billion.
He said the government had spent RM9.9 billion on Felda’s recovery, including RM3.3 billion to delist FGV Holdings Bhd and RM5.7 billion for restructuring other loans. He added that RM990 million has to be paid every year so that the burden was not being passed on to settlers.
Anwar also said RM450 million was recently allocated to restore Felda managers’ houses and to have ministries such as Education and Health provide services in Felda areas, including dialysis centres.
Replying to Datuk Seri Dr Zaliha Mustafa (PH-Sekijang), who asked about tighter controls on large investments by government-linked companies, Anwar said Felda lost 24 acres of prime Kuala Lumpur land, valued at half a billion ringgit, which was sold very cheaply in 2014. He said the case remained under investigation but called the loss “deeply shameful”.
He said the government was finalising the Government-Owned Bodies Bill (State-Owned Enterprises Act) to tighten regulation of government-linked entities, and hoped to pass it this year.
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