Felda says a new chairperson will be named by Economic Affairs Minister Azmin Ali soon.
MB Amirudin Shari says the initiative will help settlers become homeowners.
Circular from Economic Affairs Ministry indicates cabinet agreed to the allocation for 112,635 settlers.
UPDATED 10.30PM | He says funds will first be channelled to the Cost of Living Loans and Advance from Yield schemes.
Salahuddin Ayub says pilot projects will be carried out in selected settlements by year-end.
It alleges that the study cited in a news report did not describe the actual situation.
Mohd Radzi Md Jidin believes this will help prevent fraud in the future.
Othman Omar stresses that employees of the agency need to have the right attitude.
Felda settlers currently still need gov't aid, but should be encouraged to be independent in long run, says Felda NGOs Consultative Council.