MORE than 9,000 members of Koperasi Permodalan Felda Malaysia Berhad (KPF) are calling for Prime Minister Datuk Seri Anwar Ibrahim to intervene in a share redemption crisis they claim has left hundreds of millions of ringgit tied up for more than two years.
Lawyer Afiq Asyraf, representing affected members and settlers, said they were seeking immediate government intervention to address KPF’s alleged liquidity problems and safeguard the interests of members, many of whom were elderly, retirees and settlers’ widows without fixed incomes.
"They are demanding the immediate intervention of the Prime Minister to direct the channelling of domestic liquidity or liquidity assistance to KPF to safeguard the welfare of the settlers," he told a press conference outside the Felda office in Kuala Lumpur today.
Afiq said the members were also demanding an independent investigation committee to conduct a forensic audit of KPF’s management of funds, overseas investments and the status of its asset liquidation.
"Besides that, they want a mandatory payment schedule to be established, with priority given to the elderly and emergency cases.
"They also demand that KPF management provide an official explanation of the actual cash position compared with the total assets allegedly exceeding RM4 billion," he said.
Earlier, about 50 KPF members and settlers staged a peaceful demonstration and hunger strike to highlight the plight of thousands of members affected by delayed share redemption payments.
Former Felda employee and KPF member Syed Alwi Syed Shariff, 61, said the prolonged delays had evolved from what might initially have been viewed as a technical or administrative issue into a wider crisis of confidence affecting members’ economic rights nationwide.
"This issue affects more than 9,000 members nationwide, and KPF is withholding millions of ringgit in funds that are the absolute right of the contributors," he said.
Syed Alwi estimated that between RM350 million and RM400 million would be needed to fully settle members’ outstanding share redemption claims.
"As evidence, my case, which is currently being heard by the Cooperative Tribunal, involves a redemption value of RM281,256," he said.
He said KPF had acknowledged facing critical cash-flow problems in 2023, after applications to withdraw shares allegedly exceeded new subscriptions.
"On July 11, 2024, the then Felda chairman, Datuk Seri Ahmad Shabery Cheek, gave a public assurance that the RM200 million liquidity issue would be resolved within six to nine months.
"He stressed that KPF was 'not diseased' because it had assets exceeding RM4 billion. However, the nine-month period promised has already expired," he said.
Syed Alwi said some members had been waiting for their payments since 2023 and 2024, leaving their savings inaccessible for more than two years without a clear resolution.
He said the prolonged delay had prompted affected members to pursue legal and regulatory action.
A police report was lodged in May 2025 calling for an investigation into allegations that members’ funds had been used for other purposes without approval, he said.
"The case was subsequently referred to the Malaysia Cooperative Societies Commission (SKM) and is now at the hearing stage before the Cooperative Tribunal.
"Besides that, efforts are under way to file a representative action in the Civil Court seeking damages as well as specific performance," he said.
Syed Alwi said members had been forced to pursue legal action because of what they described as KPF’s failure to safeguard funds held in trust.
He said the continued delay had placed particular pressure on elderly and financially vulnerable members who were unable to access their savings.
The members are now seeking direct government intervention, greater transparency over KPF’s financial position and a mandatory timetable for settling the outstanding share redemption claims. - September 4, 2026
