Malaysiakini NEWS

Felda-Eagle High deal slammed for profiting Indonesia's Rajawali

Published:  |  Modified:

Jumping on the bandwagon to pile criticism against Federal Land Development Authority's planned acquisition of a stake in Indonesia's PT Eagle High Plantations Tbk (EHP), a PAS leader has questioned the need to profit Indonesian conglomerate Rajawali Group.

PAS deputy president Tuan Ibrahim Tuan Man pointed out how Indonesian billionaire Peter Sondakh, who owns Rajawali Group, had purchased shares at EHP for 400 rupiah per share. It was estimated that Rajawali Group had spent US$570 million to acquire a 68.6 percent stake in EHP.

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