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Addressing the Felda Conundrum in Pakatan Harapan’s First White Paper

dc.contributor.authorGeoffrey K. Pakiam
dc.description.abstractOnce the crown jewel of Malaysia’s rural development drive, the Federal Land Development Authority (Felda)’s settler schemes are now approaching an inflection point. Years of gross corporate mismanagement, depreciating farm assets, and indifferent commodity prices have strangled the organisation’s cash flow to the point where it claims it can no longer afford to pay its settlers, staff and contractors on time. To help stave off Felda’s apparent looming bankruptcy, Malaysia’s new Pakatan Harapan-dominated parliament is due to table a much-anticipated White Paper before mid-April 2019, proposing strategic solutions to Felda’s current malaise. Settler representatives hope that the federal authorities will generously favour Felda settlers, turn back the clock, write off a large amount of settler debt, and help the group reclaim key assets now under the purview of FGV Holdings Bhd (FGV). Post-GE14, the Pakatan-led government, however, is saddled with broader responsibilities that complicate responses to Felda’s current woes. These include obligations to FGV’s new management and institutional shareholders, which besides Felda and related agencies (who together hold 38.8 percent of FGV’s shares), extend to statutory Islamic investment fund Lembaga Tabung Haji (7.78 per cent), public sector pension fund Kumpulan Wang Persaraaan (Diperbadankan) (7.83 per cent) and the state governments of Pahang (5 percent) and Sabah (4.07 per cent). Some form of compromise between different sectoral interests is virtually guaranteed, and will involve federal funding in one form or another. Paradoxically, this tricky situation comes just when Pakatan is facing an unprecedented opportunity to win the hearts and minds of rural Malay voters; an opportunity that may not be on offer again for some time.
dc.publisherISEAS Yusof Ishak Institute
dc.titleAddressing the Felda Conundrum in Pakatan Harapan’s First White Paper
dc.subject.expertRegional Development Finance
dc.subject.expertPublic Scrutiny of City Finances
dc.subject.expertNon-Bank Financial Institutions
dc.subject.expertLocal Government Finance
dc.subject.expertGovernment Financial Institutions
dc.subject.expertForeign and Domestic Financing
dc.subject.expertFinancial Risk Management
dc.subject.expertAssessing Corporate Governance
dc.subject.expertGood Governance
dc.subject.expertGovernance Approach
dc.subject.expertPublic Finance
dc.subject.expertNational Budget
dc.subject.expertBudgetary Policy
dc.subject.expertEducational Budget
dc.subject.expertPublic Financial Management
dc.subject.expertFinancial System
dc.subject.expertFinancial Statistics
dc.subject.adbPublic Accounting
dc.subject.adbBusiness Financing
dc.subject.adbSocial Equity
dc.subject.adbEconomic Equity
dc.subject.adbProject Risks
dc.subject.adbProject Impact
dc.subject.adbPublic Administration
dc.subject.adbPublic Debt
dc.subject.adbLocal Government
dc.subject.adbDebt Management
dc.subject.adbCorporate debt
dc.subject.adbPublic Accounting
dc.subject.adbNational Budget
dc.subject.adbMunicipal Bonds
dc.subject.adbLocal Government
dc.subject.adbPublic Debt
dc.subject.adbLocal Government
dc.subject.adbDebt Management
dc.subject.adbPension Funds
dc.subject.adbMutual Funds
dc.subject.adbSocial Equity
dc.subject.adbFinancial Aspects
dc.subject.adbFiscal Policy
dc.subject.naturalInvestment Requirements
dc.subject.natural|Taxing power
dc.subject.naturalTax administration and procedure
dc.subject.naturalTax policy
dc.subject.naturalEffect of taxation on labor supply
dc.subject.naturalDecentralization in government
dc.subject.naturalCommunity power
dc.subject.naturalCorporate divestment
dc.subject.naturalCivil government
dc.subject.naturalDelegation of powers
dc.subject.naturalNeighborhood government
dc.subject.naturalSubnational governments
dc.subject.naturalDelivery of government services
dc.subject.naturalLocal taxation
dc.subject.naturalLocal government
dc.subject.naturalEmployee pension trusts
dc.subject.naturalInvestment management
dc.subject.naturalMultiemployer pension plans
dc.subject.naturalKeogh plans
dc.subject.naturalIndividual retirement accounts
dc.subject.naturalPension plans
dc.subject.naturalEmployee pension trusts
dc.subject.naturalPension trusts
dc.title.seriesISEAS Perspective
dc.title.volumeIssue: 2019 No. 17
dc.contributor.imprintISEAS Yusof Ishak Institute
oar.adminregionSoutheast Asia Region
oar.authorPakiam, Geoffrey K.

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