KUALA LUMPUR: Koperasi Permodalan Felda Malaysia Bhd (KPF) is pursuing the sale of its plantation and property assets to raise funds to settle more than RM200 million in outstanding share withdrawal claims.
Deputy entrepreneur and cooperatives development minister Mohamad Alamin said the proposed disposals include the sale of all or part of KPF's Samarahan plantation in Sarawak, as well as shoplots and parcels of land.
"The joint task force has proposed selling the Samarahan plantation, either in full or in part," he told the Dewan Rakyat today.
"The disposal of some properties owned by KPF, including shoplots and parcels of land, is also in progress."
Mohamad said the measures are part of a recovery plan overseen by a joint task force comprising Felda, the Malaysia Co-operative Societies Commission and KPF.
He said KPF completed the disposal of its stakes in eight FGV group companies for RM229 million.
On outstanding payments to members, Mohamad said total share withdrawal claims had exceeded RM400 million, with more than RM200 million already settled.
"The outstanding balance is more than RM200 million," he said, adding that about 15,000 members are involved in the claims.
According to Mohamad, the government's aim is to complete KPF's restructuring by the end of 2026.
He said a new business model involving FGV Palm Industries is projected to generate an additional RM42 million annually for KPF, strengthening its ability to settle members' claims.
He said the recovery measures are intended to enable KPF to settle outstanding claims progressively without jeopardising its financial position or operations.