Economic Affairs Minister Datuk Seri Azmin Ali poses for pictures with the Felda White Paper in Parliament April 10, 2019. — Picture by Shafwan Zaidon
KUALA LUMPUR, April 10 — While Felda Global Ventures had raised RM10.5 billion in its 2012 Initial Public Offering , Datuk Seri Azmin Ali today said the previous administration had spent about a quarter or RM2.7 billion of the earnings on very “shady transactions”. The economic affairs minister indicated that these sums were used for political purposes for the general elections last year.
“Unfortunately, RM1.4 billion from the cash returns received by Felda via the FGV listing was spent on very dubious investments involving shady transactions. “Whereas, a sum of RM2.7 billion was used to gain political support for the general election,” he said while tabling the Felda White Paper in the Dewan Rakyat.