Anwar writes to Prabowo over Felda’s RM2bil Eagle High venture
Prime minister says Felda could lose over RM2 billion and only recoup RM200 million if the issue isn't handled well.
Prime Minister Anwar Ibrahim has penned a letter to Indonesian President Prabowo Subianto, urging him to investigate Felda's RM2.3 billion investment in Eagle High Plantations TPK. This investment, which occurred in December 2016 during the tenure of former Malaysian Prime Minister Najib Razak, has encountered complications. An arbitration ruling in Felda's favor remains pending in Indonesian courts, creating uncertainty over potential recoveries.
Anwar emphasized that if the situation isn't managed carefully, Malaysia could lose a staggering RM2.5 billion, only recuperating a mere RM200 million. The stake in EHP is held by the Rajawali Group, owned by Indonesian tycoon Peter Sondakh. Although Rajawali was mandated to comply with the put option stipulated in the investment agreement, they have contested the enforcement of this decision through a petition in Indonesian courts.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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