Here’s something that an analyst sent to me. The Sarawak Land Consolidation and Rehabilitation Authority (Salcra) is a government statutory body charged with developing native customary rights (NCR) land in a bid to improve the lot of rural communities in the state. As you can see below, the figures bandied about raise all sorts of questions.
Sarawak Deputy CM Alfred Jabu is also Minister for Infrastructure Development and Communication/Minister for Rural Development as well as Salcra chairman.
On 30 Nov, Alfred Jabu made a big deal about the RM52 million to be paid out as dividends for 2008 to the 16,480 participants in Salcra oil palm land development schemes, and he lambasted Dayak NGOs for their criticisms.
But a simple division will show that this dividend payout amounts to the grand sum of RM3,155 per participant for the year, or an average of RM263 per month.
According to Salcra’s own figures, the total land area under management amounted to 48,700 hectares. Let us assume a low yield of 15 tonnes per hectare, and a mean cost per tonne of RM200. Going by MPOB figures, the mean FFB price/tonne for 2008 is around RM600.
Then Salcra should have netted RM292 million for 2008. This translates to an average net earnings of RM17,731 per participant, or around RM1,500 per month.
In the announcement, DCM Jabu mentioned that another RM22 million had been set aside for loan re-payment. So, total net balance, after dividends and loan re-payments, should have amounted to RM218 million, or RM13,240 per participant.
So, where did that go to? Even if we allow for a withholding of 50 per cent to allow for re-investment and re-planting, that would still amount to RM109 million or RM6,620 per participant to be accounted for.
Given these figures, the Dayak NGOs are perfectly entitled to question the benefit of Salcra. Without any explanation for this balance of RM218 million, DCM Jabu has no call to lambast those NGOs.
Footnote: If the participants had managed their own average holding (average of 3 hectares each), they would have netted RM17,731 in 2008, on the above assumptions instead of RM3,155 in dividend (per participant).
I have tabulated the above information as follows. :
|Actually paid to each participant|
|dividend||Participants||RM/per year||RM/per mth|
|Less: Loan repayment||-22,000,000||-1,335|
|Unaccounted surplus per annum||218,200,000||13,240|
|Less: Assumed replanting/reinvestment (50%)||-109,100,000||-6,620|
|Unaccounted net surplus||109,100,000||6,620|
|Unaccounted net surplus per participant per month||9,091,667||552|
Would Salcra care to clarify?