KUALA LUMPUR, Feb 16 — Felcra Bhd was unable to settle debt arrears amounting to RM312.22 million in 2021, up from RM82 million in the preceding year, according to the...
KUALA LUMPUR, Feb 16 — Felcra Bhd was unable to settle debt arrears amounting to RM312.22 million in 2021, up from RM82 million in the preceding year, according to the Auditor-General’s Report 2021 Series 2.
The report said that based on Felcra’s feedback, the government, following the Dewan Rakyat’s approval on Aug 4, 2022, converted part of the debt amounting to RM969.27 million into equity in Felcra. On the whole, based on the audit’s scope, Felcra’s objective of consolidating, reviving and developing its members’ lands was achieved through the main activities of carrying out its social mandate and commercial business.
“Stakeholders must take action to help participants who have yet to receive their dividends and resolve the issues of operating costs and unviable projects. Undistributed dividends amounting to RM67.14 million must also be paid out to participants and trustees as soon as possible,” the report said.
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