The RM1 billion development is being undertaken by Felcra Properties Sdn Bhd, which is a wholly-owned unit of Felcra with a paid-up capital of RM30 million. In October last year, Minister of Economic Affairs Datuk Mohamed Azmin Ali was quoted as saying that Felcra plans to sell some parts of the Menara Felcra project to raise dividends and living standards for its 96,137 members. But a year down the road, nothing has happened and Felcra Properties seems to have issues. In FY2017, Felcra Properties’ only profitable year, it generated PAT of RM3.46 million on RM46.47 million in sales. For its financial year ended Dec 31, 2018 Felcra Jayaputra registered PAT of RM3.3 million on RM305.71 million in revenue.

Source: The Edge Markets December 09, 2019 09:00 UTC