„This decline was due to several reasons, including Felda`s acquisition of land, the surrender of land to Felda for mining purposes, interventions in third countries, overlapping mill lands, and the process of coordination between the country`s title and the Malaysian Investigation and Mapping Department (JUPEM),“ fGV said. In a statement, it said the group was ready to follow the procedures outlined in the agreement as soon as it was informed by the Soil Authority and would make the announcement in the event of significant development. Felda is also facing a drop in revenue sources, including rents for 351,000 hectares of farmland and lower-than-expected profit share under the LLA with the FGV, Mustapa said, noting that weak governance and financial management have also contributed to Felda`s problems. Felda`s own land, which has been leased to the FGV, amounts to 350,733 hectares. JOHOR BARU, 29 October – FGV Holdings Bhd reiterated today that it has not yet received written notification from the National Development Authority (Felda) regarding the termination of the lease (LLA), but has prepared its business and business. The FGV currently operates 493,725 hectares of plantations in Malaysia and Indonesia and produces about three million tonnes of crude palm oil per year. Of these plantations, more than 355,000 hectares are controlled by the LLA with Felda, which owns 33.66% of the plantation group. At present, the land area of Felda is more than 850,000 hectares and the land belonging to the settlers of Felda amounts to 450,632 hectares. KUALA LUMPUR: FGV Holdings Bhd (FGV) expects the National Development Authority (Felda) to contact it with the lease (LLA) signed on November 1, 2011.
The LLA refers to Felda-specific land, with a total area of 350,733 hectares, which has been leased to the FGV for 99 years as of November 1, 2011. However, on 20 October, the FGV denied Idris`s assertion that the Agency received 800 million .RM annually from the LLA between the two parties and indicated that the LLA had indicated that the amount to be paid to Felda would amount to 248 million.RM per year, plus 15% of the operating profit of the leased land. PETALING JAYA: FGV Holdings Bhd has confirmed that the National Development Authority (Felda) has not yet inquired about its lease (LLA). FGV Holdings Bhd wants the National Development Authority (Felda) to no longer give notice of the basic lease (LLA) to the media and come to the table to discuss the issue. Listed the authority-owned country is currently over 850,000 ha, whose settlers owned a total of 450,632ha, while the Felda-owned land leased to the group was 350,733ha. Read also: FGV expects compensation for the termination of LLA between RM3.5b and RM4.3b PMO: The firm votes to terminate the Feldas land lease with FGVSyed Mokhtar accepts the interest of merging its plantation assets with FGVPutting FGV „The LLA declares, that the amount to be paid to Felda is RM248mil (based on Hectarage) plus 15% of LLA`s operating profit per year.