Investors of Koperasi Permodalan FELDA Malaysia Berhad have expressed deep dissatisfaction over prolonged delays in receiving proceeds from their share sales, saying the situation has become unbearable.
Their representative, Ahmad Karami Lebai Yunus, accused the cooperative’s leadership of issuing statements that do not reflect the real circumstances faced by members.
He stressed that members fully understand the nature of cooperative investments and never demanded instant withdrawals like bank transactions, but are frustrated because approved payments have remained unsettled for an unreasonable period.
He further questioned purported new withdrawal restrictions, asserting that such limitations cannot be enforced without legitimate amendments endorsed and formally registered as required by law.
He claimed the absence of clear disclosure regarding these purported changes has raised doubts about compliance with cooperative regulations and members’ rights.
According to him, KPF’s financial strain appears linked to investments that cannot be converted into cash, particularly the controversial acquisition of a plantation estate believed to have been purchased at an inflated valuation.
He urged for investigations to ensure there was no mismanagement affecting members’ interests and insisted that transparency is essential to restore trust.
He stated that many members seeking payment are long-time contributors who now urgently require funds for living expenses and healthcare.
The group is demanding a firm repayment schedule, clarity on legal and policy matters, and greater accountability from the cooperative’s leadership.
If no convincing commitment is made soon, he warned that members are ready to take stronger collective action including a massive demonstration to pressure the cooperative into fulfilling its responsibilities.
