He said the assets were purchased above the market price.
“Even if we decide to monetise these assets, we wouldn’t be able to get back the full value of those assets. This is our concern now,” he told reporters at the Parliament today.
Previously, Azmin was reported to have said that Felda would dispose of its non-strategic assets as part of a recovery plan to reduce its RM8 billion debt.
Meanwhile, he said the government would take the necessary steps to ensure the future wellbeing of Felda settlers once the White Paper on Felda’s management is presented in Parliament.
Azmin said the White Paper, which would include Felda’s latest financial statement, was being finalised.
“It is very serious, I have already seen the draft but the ministry is looking into the details,” he said, adding that the presentation of the White Paper was important as the settlers needed to be aware of the actual situation faced by Felda.