Malaysian PM writes to Prabowo seeking help over investment case

Malaysian Prime Minister Anwar Ibrahim has stated that he has sent a letter to Indonesian President Prabowo Subianto to request assistance regarding an investment case involving an Indonesian company.

The investment in question is that of Malaysia’s Federal Land Development Authority (Felda), made during the leadership of former Malaysian Prime Minister Najib Razak, in the Indonesian crude palm oil (CPO) company PT Eagle High Plantations Tbk.

“I have written a letter to President Prabowo Subianto, asking him to also look into this matter,” Anwar said in a statement quoted in Kuala Lumpur on Saturday.

Anwar Ibrahim did not provide details about the case, but he said that if the issue is not addressed, the losses that Felda could suffer as a result of the previous management’s decision could reach 2.5 billion ringgit, equivalent to Rp11 trillion at the current exchange rate.

According to reports, Felda, a Malaysian government agency focused on resettlement for low-income citizens, has so far been unable to recover its investment funds because EHP is contesting the matter in Indonesian courts.

Felda is reportedly only able to recover 200 million ringgit, or around Rp876 billion, of its total investment.