Anwar questions RM330m gap in proposed Felda hotel sale, orders full report
Malaysian Prime Minister Anwar Ibrahim has blocked the sale of a Felda-owned hotel, citing a significant price gap between the original purchase and the proposed sale price. He has ordered a full report to investigate the potential loss of public funds.
Why it matters
The intervention highlights government efforts to combat financial mismanagement and protect the interests of rural settlers who rely on agency support.
MELAKA, Aug 7 — Prime Minister Datuk Seri Anwar Ibrahim has directed the management of the Federal Land Development Authority (Felda) to provide a complete report regarding the proposed sale of a hotel owned by the agency, which was allegedly at a price far lower than the original purchase price.
Anwar, who is also the Finance Minister, revealed that he refused to sign the approval document for the sale after discovering that the hotel was to be sold for £100 million (RM550 million), whereas it had been purchased by the previous management for £160 million (RM880 million).
He also expressed his regret over the loss-making sale proposal, considering that Felda settlers are still facing various hardships and require government assistance to improve basic facilities.
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