|Felda settlers' RM499.8 million hotel in Bayswater, London|
"Why (is Felda) not putting money into assets that are synergistic to its strengths in agribusiness? And, finally, why not simply distribute the cash to the settlers, the majority of whom may never set foot in the British capital?" - Felda's buys boggle the mind, The Edge, Sept 23-39, 2013
News about Felda's decision to splash almost half a billion ringgit on a serviced apartment in Bayswater, London was picked up gleefully by pro-Pakatan websites. Thanks to Isa Samad, a fresh round of Najib-bashing has begun. Read Felda and FGV spend big on QUESTIONABLE assets (pdf file h e r e) and Felda slammed for splurging on NON-CORE assets but not a single sen on replanting.
Now the Edge is littered with Anwaristas who, by definition, have closed minds but the weekly's editorials sometimes make sense.
"While investing in London properties has become increasing popular, that is not to say there are no pitfalls. Does Felda have the experience to manage a far-flung hotel in London?"