With criticisms mounting against Felda's planned purchase of a 37 percent stake in PT Eagle High Plantations Tbk, PKR vice-president Rafizi Ramli wants Prime Minister Najib Abdul Razak to answer several questions on the matter.
His demand comes after Felda announced it would buy a non-controlling stake in the Indonesian plantation for US$505.4 million (RM2.26 billion).
During a press conference in Kuala Lumpur today, Rafizi cited Eagle High Plantations' average share price in 2015 was between 132 rupiah to 315 rupiah per share.
Based on the average share price in the past 52 weeks, a share at Eagle High Plantations was 200 rupiah or 6.7sen in ringgit.
As such, Rafizi said Felda would pay a premium of 290 percent to buy the 37 percent stake in Eagle High Plantations, which is three times more than the average share price recorded in the past 52 weeks...