00:00I have written to President Prabowo Subianto and asked him to look at the problem.
00:11If it is not in favor, it would be $25 billion, which we will earn $200 million.
00:25Prime Minister Anwar Ibrahim has written to Indonesian President Prabowo Subianto over the dispute involving Felda's RM2.3 billion investment
00:34in Indonesian palm oil company Eagle High Plantations.
00:38Anwar described the investment as a costly failure that should not be repeated, warning that Felda could lose RM2.5
00:45billion while recovering only about RM200 million.
00:49Felda bought a 37% stake in EHP, one of Indonesia's largest palm oil companies, for about RM2.3 billion
00:56in December 2016 when Najib Razak was Prime Minister.
01:01Najib had defended the deal saying it included a put option allowing Felda to sell back its stake at the
01:06original purchase price with an additional 6% annual interest charge.
01:10EHP is part of the Rajawali group owned by Indonesian billionaire Peter Sondak.
01:17In June 2024, the Singapore International Arbitration Centre ordered Rajawali entities to honour the put option and repurchase the shares
01:25from Felda.
01:26However, Rajawali later filed a petition in the Indonesian court to block enforcement of the arbitration award.
01:32Deputy Prime Minister Ahmad Zahir Hamidi had previously confirmed that the court action prevented Felda from enforcing the award.
01:40Jaclyn Kaur, FMT
01:41CCR.
01:42CCR.
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