An open letter from Dr. Tan Kee Kwong : Jibby bankrupted Felda
As of now out of the huge cash hoard of RM 4.5 Billion, only RM 200 Million is left. In actual fact with the record price of CPO for the past few years, Felda, if managed properly, should have cash reserves of RM 6 Billion!
By People’s Parliament
I write this letter with a very heavy heart.
Just to put things in perspective, after much soul searching, I joined Keadilan in August 2008.
From 1999 to 2004 I was Barisan National Deputy Minister of Land and Cooperatives.
My Minister, Tan Sri Kasitah Gadam, put me in charge of answering questions in Parliament regarding all Felda matters.
In 2004, before Najib began meddling in Felda affairs, Felda was the pride of the oilpalm industry. It had 75 oil palm mills, assets of RM 7 Billion and a cash hoard of RM 4.5 Billion.
What I just heard upset me so much.
I publicly accuse Najib of single handedly destroying Felda!
As of now out of the huge cash hoard of RM 4.5 Billion, only RM 200 Million is left. In actual fact with the record price of CPO for the past few years, Felda, if managed properly, should have cash reserves of RM 6 Billion! The reverse has happened and now it has only a pathetic sum left.
When Najib became Deputy Prime Minister, he put himself in charge of Felda. He gave the lame excuse that his late father Tun Razak started Felda, he should continue the family tradition of looking after Felda.
In fact if the late Tun Razak khows what Najib has done to Felda , Tun Razak will turn in his grave.
The same goes for the former Chairman of Felda, Tan Sri Raja Alias. Tan Sri Raja Alias did an excellent job in looking after Felda.
The real reason why a very busy Deputy Prime Minister wants to micro manage Felda is now very clear.
He wanted to have access to the huge cash hoard of Felda.
Read more at: http://harismibrahim.wordpress.com/2010/06/13/an-open-letter-from-dr-tan-kee-kwong-jibby-bankrupted-felda/
