'Felda Global's overseas units profitable'

Deputy Minister in the Prime Minister's Department Datuk Ahmad Maslan has brushed aside claims that Felda Global Venture Holdings Bhd (FGVH) has not made a profit from its overseas investments.

He said FGVH's overseas profits before tax of RM203 million in 2009 and RM366 million in 2010, figures which he announced in the Dewan Rakyat on Tuesday last week, have been filed with the Securities Commission Malaysia (SSM) and may be accessed by the public.

"The 2011 figures are still being audited and will be ready by the end of the month, but we are very confident they will show a profit, I do not how much but it will be large," he told reporters at the Parliament lobby here today.

On Monday, PAS' Kubang Kerian Member of Parliament Salahuddin Ayub claimed that he was in possession of documents detailing FGVH's overseas losses and challenged Ahmad to furnish Parliament within three days with the necessary financial details regarding FGVH's overseas profits.

Ahmad said FGVH invests in 12 countries and has 23 subsidiaries, and the profit figures he announced were for the group.

"In business it is normal for companies to post a profit or loss, but what is important in any accounting system is the group's profits.

"What is important is the profit figures I gave of RM203 million and RM366 million are correct," he said. -- Bernama