Prime Minister Tan Sri Muhyiddin Yassin delivering a speech at the opening of the Felda Settlers’ Day 2021 celebration at the national level which was broadcast online July 7, 2021. — Bernama pic
KUALA LUMPUR, July 7 — The government has agreed in principle to dispose of part of the Federal Land Development Authority (Felda) settlers’ loans amounting to RM8.3 billion as an initiative to revive the 65-year-old organisation.
Prime Minister Tan Sri Muhyiddin Yassin said the disposal of the loans which would be implemented through a conditional loan adjustment initiative would reduce the loan burden of each settler by an average of 80 per cent.
“The average loan repayment is expected to be reduced from around RM800 to RM1,000 to only RM250 to RM300 a month for oil palm settlers and as low as RM150 for rubber settlers, which is a very reasonable and affordable rate for them.”
He said this in a pre-recorded speech broadcast live on television and online platforms in conjunction with the Settlers’ Day celebration today.
Muhyiddin said the initiative was one of the three-pronged strategies — Restart, Revitalise and Reform — to bring back the glory of Felda as the world’s leading plantation company and eventually to be listed as among successful global companies, such as in the Fortune Global 500. — Bernama
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