KUALA LUMPUR, Jan 24 A subsidiary of the Federal Land Development Authority (Felda), which is now bankrupt, lost RM155 million in just over two years of operations, Opposition lawmaker Rafizi Ramli alleged today.
The PKR MP for Pandan said Felda Wellness Corporation (FWC) was declared bankrupt by a Malaysian court last year over unpaid debts to an Australian pharmaceutical company called Gordagen Pharmaceuticals.
According to a Companies Commission of Malaysia (CCM) document, FWC closed over its inability to repay the A$652,083 (RM2.1 million) debt to the Australian firm, but has RM155 million in accumulated losses, and RM154 million in debt to other creditors.
How will Felda settlers feel about some top people in the management spending R…
Read the full article at: https://sg.news.yahoo.com/rafizi-claims-bankrupt-felda-unit-lost-rm155m-055600388.html