November 27, 2004 - PETALING JAYA: More than 98,000 Felda settlers will bepaid a bonus of between RM1,000 and RM1,500 each at the end of the year.
The incentive is to recognise the hard work they put in to manage theiroil palm and rubber estates, said Deputy Prime Minister Datuk Seri NajibTun Razak.
He added that they had made a significant contribution to the country’seconomy and hoped the bonus would motivate them to work harder.
We will consider similar payments in future if we continue to make moneyand Felda remains profitable, he said after launching the InternationalBrands Consumer Fair 2004 at the Sunway Pyramid Convention Centreyesterday.
We have taken all factors into calculation and this is what we canafford.
It is based on the performance of Felda as a whole and the individualperformance of the settlers, he said, adding the bonus was also based onthe price of crude palm oil.
Najib said the bonus payout would cost Felda RM141.60mil.
Settlers who produced more than 10 tonnes of palm oil or 1,000kg of rubberper hectare up to September this year will receive RM1,500. This comprisedRM1,000 in cash and RM500 in the form of a Koprasi Permodalan Felda (KPF)certificate.
Those who produced less than 10 tonnes of palm oil or 1,000kg of rubberwill receive RM1,000 comprising a cash payment of RM500 and RM500 in theform of a KPF certificate.
Najib said the productive settlers (who are eligible for the RM1,500incentive) account for 56.9% or 57,526 of the total 98, 230 settlers.
We hope the bonus will be able to ease the financial burden of settlerswhen the 2005 school session starts, he said.