Malaysia to provide RM6.23b in aid to state palm oil firm Felda

[KUALA LUMPUR] Malaysia will provide state-owned palm oil plantation agency Felda with financial aid of RM6.23 billion (S$2.06 billion) as part of measures to help turn the agency around, a government report said on Wednesday.

Felda, or the Federal Land Development Authority, will also restructure and delay some repayments of its borrowings, said the report, issued by the Ministry of Economic Affairs following two years of management crises and allegations of corruption under the previous government.

REUTERS