Malaysia's Anwar Ibrahim seeks Indonesian aid for Felda investment dispute

Malaysian Prime Minister Anwar Ibrahim has sent an official letter to Indonesian President Prabowo Subianto seeking assistance regarding a significant investment dispute involving the Federal Land Development Authority (Felda).

The issue concerns Felda's investment in the Indonesian crude palm oil company PT Eagle High Plantations Tbk (EHP), an investment made in December 2016 through its subsidiary, FIC Properties Sdn Bhd. Anwar noted that if the matter is not resolved, Felda faces potential losses of up to 2.5 billion ringgit (approximately 11 trillion rupiah). Currently, it is estimated that only 200 million ringgit (around 876 billion rupiah) could be recovered.

The dispute is currently being processed in Indonesian courts. Anwar described the situation as a consequence of poor investment management during the previous administration of former Prime Minister Najib Razak. He emphasized the scale of the potential loss to ensure management understands the difficulty of the recovery process.