Published: Monday June 11, 2012 MYT 2:05:00 PM
Updated: Monday June 11, 2012 MYT 2:34:44 PM
Ahmad Maslan: Felda listing will benefit all Malaysians
By MAZWIN NIK ANIS
KUALA LUMPUR: The listing of Felda Global Ventures Holdings (FGVH) will benefit Malaysians at large and not just Felda settlers and staff, said Deputy Minister in the Prime Minister's Department Datuk Ahmad Maslan.
He told the Dewan Rakyat on Monday that FGVH's listing on Bursa Malaysia, scheduled for June 28, would be an exercise that would see "prosperity being shared among Malaysians, including those who have no links with Felda."
He said this was because a good portion of the 2.19 billion shares being offered were given to institutions such as Permodalan Nasional Berhad, Lembaga Tabung Haji and Employees Provident Fund.
"There has been no such listing before where Malaysians at large will enjoy the profit. We are doing this because we want the rakyat to also enjoy the benefits," he said in response to a question by Datuk Abdul Manan Ismail (BN-Paya Besar).
Ahmad said that PNB and Tabung Haji's respective 10.5 million and seven million depositors and EPF's 13.15 million members would benefit from investments made on FGVH shares.
He also explained the difference in shares given out to Felda settlers and staff where the former received 800 units while Felda employees were given 1,000 units each, saying settlers received lesser because the shares allocated to them had to be divided among 112,635 people.
On the other hand, he said, shares meant for the staff were divided among only 23,000 hence why each employee received more compared to settlers.
"Furthermore, the settlers are given land for agriculture and to set up homes. They also received a total of RM15,000 windfall which Felda staff, who are responsible for the smooth running of the body are not entitled to such benefits," he said.