Sell off all the Felda Global Ventures Holding (FGVH) – MB Kedah

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KUALA LUMPUR: Kedah Mentri Besar Datuk Seri Azizan Abdul Razak has ordered the State Development Corporation (PKNK) to sell off the 500,000 unit of shares purchased from Felda Global Ventures Holding (FGVH).

Azizan’s political secretary Muhammad Sanusi Mohd Nor told The Mole the Mentri Besar made the decision when he was alerted of PKNK’s acquisition of the shares during the weekend.

“Datuk Seri Azizan was only informed about the purchase after it was done,” Muhammad Sanusi said.

“For PKNK, it was a business decision and it has nothing to do with politics at all. Besides the corporation is not required to inform the MB about its share purchasing decisions,” he added.
Muhammad Sanusi stressed that Azizan who is the chairman of PKNK was not involved during the decision-making (of purchasing FGVH shares).

In a news report on Monday, Azizan was condemned by a Pas Kedah leader for not respecting the party’s stance against FGVH and its listing in the stocks exchange.

Commenting on the report Muhammad Sanusi said: “Although Datuk Seri Azizan was not aware of the purchase, but he took responsibility and asked PKNK to sell the shares when the time is right and will benefit the people.”

A pro-opposition blog Ameno World in its post accused Pas Kedah of lying when Azizan allegedly rejected Permodalan Kedah Berhad’s proposal in purchasing FGVH but not by PKNK when he is the chairman for both organisations.

“Why is it different when it comes to PKNK?” the post questioned.

Last Friday Sinar Harian reported PKNK chief executive officer Datuk Abdul Rahman Ibrahim confirming that the corporation owned 500,000 FGVH shares worth about RM 2.3 million.

When asked about PKNK’s decision which contradicted with Pakatan Rakyat’s principle against FGVH Abdul Rahman was quoted as saying: “It has nothing to do politics. If any party associates this PKNK share ownership with the principle of PR leaders, it is a political question.

“PKNK is a non-political body, we are business-oriented and want to expand the business to help more entrepreneurs in Kedah.”

On Saturday Pas leaders including Mohamad Sabu, Tuan Ibrahim Tuan Man and its central committee member Mazlan Aliman who is also the president of National Felda Settlers’ Children Association (ANAK) gathered in Jalan Duta before handing a memorandum to the palace in objecting the listing of FGVH. -The Mole