Stay focused on your core business, Johari tells Felda
Finance Minister II Johari Abdul Ghani has told the Federal Land Development Authority (Felda) to stay focused on its core business of palm oil plantations.
"Felda selling off its hotel in London? If that is Felda board's decision, I support that," he told Malaysiakini via text message.
"Felda should focus on their core business of palm oil plantations," he added.
Finance Minister II Johari Abdul Ghani has told the Federal Land Development Authority (Felda) to stay focused on its core business of palm oil plantations.
"Felda selling off its hotel in London? If that is Felda board's decision, I support that," he told Malaysiakini via text message.
"Felda should focus on their core business of palm oil plantations," he added.
He was asked to comment if the disposal of assets was an admission of bad buy in the first place.
"I am not privy to Felda board's decision. So I can't really comment on this. Please ask that question to Felda," he responded.
Newly-minted Felda chairperson Shahrir Samad expected the sale of the hotel to rake in between RM500 million to RM1 billion.
The present hospitality assets did not give large returns and did not have any sentimental value for the people in this country, he said.
Felda also disposed off some of its shares in Maybank.
Felda offered its Maybank shares for sale at around RM8 per share, as it lets go of its 185,150,000 shares in the bank, which at 1.82 percent makes it the fourth largest stake in the financial institution.
On another matter, Johari said it is up to DAP lawmaker Tony Pua to file a suit against Prime Minister Najib Abdul Razak over 1MDB.
"If Tony Pua feels strongly about his case to the extent that he wants to file a suit against the prime minister, he is free to do so. This is a democratic country where the judicial system favours no one," he added.
Pua had sought the Kuala Lumpur High Court to declare that Najib had committed misfeasance in public office and abused his public office to personally benefit from 1MDB funds.


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