News by Adam Aziz

"Felda's board of directors have decided not to allow any further extension to Rajawali... which is why [Rajawali] decided to file the arbitration."

The report also noted the purchase of Kensington Plaza in London, initiated by ex-chairman Tan Sri Isa Samad without Felda board approval, at RM331 million whereas market price was only RM128 million at the time. 

The jump in liabilities resulted in Felda's financing costs to increase from an average of RM3 million in 2007-2008 to an average of RM260 million in 2009-2017. Its gearing rose from 0.1 times in 2007 to 1.15 times in 2017.

"However, Felda only received an average of RM400 million a year from FGV, as opposed to RM800 million required per year in the minimum to manage the plantation and to ensure the livelihood of the settlers."

The cabinet has not discussed the way forward for Sarawak portion, says Dr M.
 

Under the existing Act, the PM has almost absolute power during an emergency. “It is possible for him (the PM) to declare a certain area as a security area. And in that area he can arrest people without bringing [them] to the court, and if [the arrested person] dies, there will be no enquiry,”

“As of now, Johor has no menteri besar,” said Mahathir. Osman’s resignation came as a surprise.

Out of 197 MPs who attended the Dewan Rakyat, 138 MPs voted for the Bill, while none voted against. However, 59 abstained from voting for the Bill which requires a two-thirds majority or the agreement of 148 MPs to pass.

Some of the gains would come from lands that were previously sold at below market price at the time. These lopsided deals were cancelled, and DBKL will earn more by selling at market price, Khalid said.

Liew said the proposed amendment has already taken into account the view of the special committee on the Malaysia Agreement 1963 that is currently at work.