KUALA LUMPUR, Oct 15 (Bernama) -- Felda will give RM300 in special paymentto 112,775 settlers country-wide for Hari Raya Aidilfitri and New Year,its chairman, Tan Sri Dr Mohamed Yusof Noor, said Friday.

The recipients are 103,156 settlers from 275 land schemes run by Felda,447 settlers of Chuping and 9,172 settlers who managed their own plots, hesaid.

Deputy Prime Minister Datuk Seri Najib Tun Razak had approved RM33.83million to be disbursed to the settlers, he told reporters.

He said the money was from profits made in plantations without settlers.

This year's payment is higher from the RM200 paid last year, he said.

"We made more profits this year, everyone also did better, hence thespecial payment," he said.

Dr Mohd Yusof said the number of special payment recipients was higherthis year as settlers, who managed the plantations on their own, alsoreceived the payment.

"Felda will not neglect settlers' welfare. Although they manage theestates on their own, this payment is an incentive to them," he said.

He said a settler earns RM1,200 in average monthly income depending on theprice of palm oil.

Dr Mohamed Yusof also said Felda would provide scholarships to settlers'children who scored good results in examinations to go for furtherstudies.

"The scholarship amount and the field of study will be determined at theend of this year," he said.

Palm oil fetched good price early this year when the price of crude palmoil was RM1,800 a tonne.

However, since June this year, the price dipped to RM1,500 a tonne tillnow.

The price is expected to remain at between RM1,400 and RM1,450 a tonnetill year-end.

Based on crude palm oil price projections, Felda targets to earn RM929.1million in profits from plantations without settlers.

-- BERNAMA