April 10, 2019 / 3:45 AM / 14 days ago

Malaysia to provide $1.5 bln in aid to state palm oil firm Felda

KUALA LUMPUR, April 10 (Reuters) - Malaysia will provide state-owned palm oil plantation agency Felda with financial aid of 6.23 billion ringgit ($1.52 billion) as part of measures to help turn the agency around, a government report said on Wednesday.

Felda, or the Federal Land Development Authority, will also restructure and delay some repayments of its borrowings, said the report, issued by the Ministry of Economic Affairs following two years of management crises and allegations of corruption under the previous government.

$1 = 4.0950 ringgit Reporting by Emily Chow; editing by Christian Schmollinger

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