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Mounting criticism for Felda's plan to strike 'expensive' Indonesian palm deal

Published Tue, Dec 27, 2016 · 09:50 PM
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Kuala Lumpur

MALAYSIA'S Federal Land Development Authority (Felda) came under mounting criticism on Tuesday for its plan to purchase a stake in Indonesian palm oil firm PT Eagle High Plantations Tbk in what critics have called an overpriced deal.

The state-owned Felda, which operates some of the world's biggest palm oil plantations, said on Friday it plans to buy a 37 per cent stake in Eagle High for US$505.4 million.

Based on Reuters calculations, that puts the deal's value at about 582 rup…

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