Felda and its subsidiary Felda Global Ventures (FGV) want the High Court to review and increase the RM70,000 in damages from PKR president Dr Wan Azizah Wan Ismail for two defamatory articles which appeared in the party newspaper, Suara Keadilan, two years ago.

Felda's lawyer, Mohd Hafarizam Harun, said the damages awarded were insufficient, given the harm it had caused to the company's reputation and listing.

"The amount of damages awarded is extraordinarily low and we hope the review would help increase the quantum.

"The initial public offering for FGV was RM4.55 (per share) but has plunged to RM1.80. This shows the detrimental effect of the article," he said.

According to him, the articles, titled "Felda is bankrupt" and "Only three people made the decision, on RM662 million new office," published on June 22 and 29, 2010 respectively, had also affected the trust of 160,000 settlers in the agency.

Hafarizam added in his submission before Justice Su Geok Yiam that as a result of the publication, Felda faced public ridicule, and as two witnesses testified, were questioned by two commercial banks.

“Hence, the amount of damages of RM70,000 does not reflect the seriousness of the defamation caused, as Felda had to conduct roadshows to regain the trust of the settlers,” he said.

Hafarizam cited various other examples of higher damages being awarded, including for former PAS vice-president Husam Musa.

Besides naming Wan Azizah, Felda and FGV named then PKR deputy president Syed Husin Ali and Suara Keadilan as defendants.

Francis Pereira, representing the defendants, told the court that the RM70,000 awarded should be sufficient and that the court should not be quick to disturb the amount.

Pereira said one of the witnesses who testified, the financial director, was not attached to Felda in 2010 when the article was written, and would thus be unable to quantify the damage done to the agency.

He added that FGV's total revenue increased from RM5.92 billion in 2010 to RM7.6 billion in 2011.

“Hence, this shows the article did not affect Felda's performance as alleged, and the agency should thank the publication,” he said.

For this reason, Pereira wanted the amount assessed to remain.

After hearing submissions, Justice Su fixed Oct 31 to deliver a decision.