Azmin: We’re leaving disposal of Eagle High stake to Felda

SUBANG JAYA: The government will not interfere in the decision of the Federal Land Development Authority (Felda) to dispose of a 37% stake in PT Eagle High Plantations to the Rajawali Group.

Economic Affairs Minister Azmin Ali said the matter should be resolved amicably.

He said the decision was made after Felda’s board of directors looked into the matter.

“Let the due process be carried out and let them resolve the matter accordingly,” Azmin told reporters at a Chinese New Year festival today.

In 2017, Felda acquired a 37% stake in Eagle High Plantations from Rajawali Group, which is owned by Peter Sondakh.

It was earlier reported that Felda had issued a letter, dated Jan 3 this year, to Rajawali Group to exercise a put option on the acquisition.

Felda’s board of directors made the decision to send the letter after their Indonesian counterparts allegedly failed to adhere to the provisions stated in the initial agreement.

Rajawali Group informed Felda it would challenge Felda’s decision in court.