PKR vice-president Rafizi Ramli has shot down Felda’s defence of its decision to acquire a 37 per cent stake in Indonesia’s PT Eagle High Plantations, pointing out that the federal agency will not have any control over access to the latter’s 425,000 hectares of land.
In a statement, Rafizi said that decisions surrounding access to Eagle High’s land and other issues would still be determined by Indonesian billionaire Peter Sondakh, who would remain in control of EHP, despite having a reduced stake of 31.6 percent via his Rajawali Group.
“This is a madness which has never happened, where a non-majority stakeholder is given the power to control the company,” said the Pandan MP, who cited findings from a CIMB Research report on EHP dated June last year.