World · Malaysia Bureau
Anwar seeks Prabowo's help on RM2.5 billion Felda EHP losses
Prime Minister Anwar Ibrahim has appealed to Indonesian President Prabowo Subianto for assistance regarding massive losses incurred by the Federal Land Development Authority in the Enhanced Home Ownership Program. The case exemplifies the kind of investment scandals involving billion-ringgit losses that should not be repeated, Anwar said.
LSN Malaysia ·
Prime Minister Anwar Ibrahim has called on Indonesian President Prabowo Subianto to help address the RM2.5 billion losses suffered by Felda in the Enhanced Home Ownership Program (EHP), citing the case as a cautionary example of major investment debacles.
Anwar characterized the EHP situation as emblematic of investment scandals that have resulted in substantial financial losses, emphasizing that such cases should not recur. The Felda scheme, which was designed to provide home ownership opportunities, instead became one of the most significant financial missteps involving the statutory authority.
The Prime Minister's appeal to the Indonesian leader underscores the transnational dimensions of the case and suggests potential involvement or cooperation required from parties across the border. The move reflects efforts by Malaysian authorities to recover losses and prevent similar investment failures in the future.
The EHP has become a focal point for discussions on investment oversight and financial accountability in Malaysia's development programs. Felda's substantial losses highlight ongoing concerns about the management of large-scale housing and development initiatives by government-linked entities.