Felda has RM5.88b in outstanding government-guaranteed loans

KUALA LUMPUR: The Federal Land Development Authority's outstanding government-guaranteed loans stood at RM5.88 billion as of Sept 30, following principal repayments totalling RM3.04 billion, the Dewan Rakyat was told.

The Finance Ministry said the government had approved guarantees totalling RM9.9 billion for Felda to secure financing from local financial institutions and the capital market to fund projects, investments, and the Felda Recovery Plan.

"Of the total approved guarantees, Felda has obtained government-guaranteed financing amounting to RM8.92 billion, while RM980 million worth of government-guaranteed sukuk remains to be issued," the ministry said.

The ministry said this in a written reply to a question from Azli Yusof (PH-Shah Alam) regarding the leakage of public funds and updates on efforts to recover state assets linked to financial scandals.

The ministry added that the government had also agreed to provide an annual grant of RM990 million for 10 years to cover the annual principal repayments on the sukuk.