Keadilan continues with our research of the FGVH inventory as well as the amicable as well as financial stroke upon settlers. FELDA upon the yearly basement spends in between RM400 to RM500 million upon the welfare of the settlers.
The output includes supports for infrastructure such as roads, mosques, housing, education, Hari Raya incentives as well as insurance. In 2011, FELDA spent RM424 million upon settlers. However for 2012 FELDA intends to spend usually RM326 million upon settlers, the massive rebate of close to RM100 million.
Details of the reductions have been as follows:
> Infrastructure development marked down by 57%.
> Youth as well as New Generation Development marked down by 27%.
> Productivity incentive for Settlers marked down by 22%.
> Hari Raya Bonus marked down by 25%.
> Insurance devise for settlers marked down by 25%.
The reason for this massive rebate is clear; after the FGVH lisitng, FELDA's gain have crashed. By leasing the 350,000 ha of land to FGVH, FELDA switched role, from the rich plantation user to the tiny landlord. The results have been devastating to FELDA. In 2011, FELDA warranted RM2.5 billion though for 2012, it usually expects to earn RM900 million. In alternative words, the IPO of FGVH has caused FELDA gain to crash by 64%.
All the above details have been from the FELDA official Budget for 2012.
First you had the tiny astray windfall, then the astray allocation of shares to foster rich bumiputera, right away ! settlers have been again unfairly treated by the RM100 million rebate in welfare support.
WONG CHEN, CHAIRMAN, INVESTMENT & TRADE BUREAU
PARTI KEADILAN RAKYAT
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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