PM’s move enables agency to restructure financial commitment – Felda

Felda today clarified that the assignment for Financial Service Reserve Account (FSRA) agreement was meant, among others, to enable the agency to restructure its financial commitment in relation to the interest rate charged and writing off 80 per ent of the settlers’ bad debt amounting to RM8.3 billion.

Felda, in a statement, said the commitment to write off the settlers' debts was implemented by the agency without any grant from the federal government in 2021 and 2022, hence giving a huge impact on Felda’s cash flow and performance...