CHINI, Pahang) (Feb 4, 2012): Prime Minister Datuk Seri Najib Abdul Razak said today the proposed listing of Felda Global Ventures Holdings Sdn Bhd (FGVH) is to make Felda more competitive in the international market.

The listing, on the Main Board of Bursa Malaysia, is aimed at consolidating Felda and widening business opportunities with international partners through the commercialisation of its downstream products, he said.

"Believe me, we will not betray the Felda founded by my father Tun Abdul Razak, but will improve it further," he said in his speech at the presentation of Felda Kuantan replanting incentives at the Felda Chini Timur 3 hall, here.

The text of Najib's speech was read out by Felda chairman Tan Sri Isa Samad.

Najib said the settlers must place their trust completely in Felda and not be swayed by the talk of certain quarters that the listing is to their (settlers') detriment.

He also said that the government, through the Malaysia Palm Oil Board (MPOB), provided incentives for settlers who have felled trees aged over 25 years for replanting between 2008 and 2009.

"An incentive of RM1,000 per hectare was given to these settlers who felled the old trees and replanted in the period between Dec 1, 2008, and June 30, 2009," he said.

Isa, when approached by reporters later, said the government is discussing with MPOB for the payment of a similar incentive to settlers who felled old trees and replanted in the period between 2004 and 2005 at 36 Felda schemes in the country.

"So far, 10,020 settlers have received the incentive, involving a sum of RM14.81 million," he said. — Bernama