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KLSE: FGV       FELDA GLOBAL VENTURES HOLDINGS BHD
Last Price Avg Target Price   Upside/Downside Price Call
1.30 1.19     -0.11 (8.46%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
09/12/2020 1.27 1.39 +0.12 (9.45%) BUY HLG Price Target News
09/12/2020 1.27 1.17 -0.10 (7.87%) HOLD BIMB Price Target News
09/12/2020 1.27 1.26 -0.01 (0.79%) HOLD AmInvest Price Target News
09/12/2020 1.27 1.31 +0.04 (3.15%) HOLD AffinHwang Price Target News
04/12/2020 1.28 1.25 -0.03 (2.34%) HOLD KENANGA Price Target News
18/11/2020 1.24 1.27 +0.03 (2.42%) HOLD MIDF Price Target News
18/11/2020 1.24 1.25 +0.01 (0.81%) HOLD KENANGA Price Target News
18/11/2020 1.24 1.39 +0.15 (12.10%) BUY HLG Price Target News
18/11/2020 1.24 1.17 -0.07 (5.65%) HOLD BIMB Price Target News
18/11/2020 1.24 1.26 +0.02 (1.61%) HOLD AmInvest Price Target News
18/11/2020 1.24 1.31 +0.07 (5.65%) HOLD AffinHwang Price Target News
30/10/2020 1.10 1.18 +0.08 (7.27%) HOLD MIDF Price Target News
30/10/2020 1.08 1.08 0.00 (0.00%) HOLD HLG Price Target News
30/10/2020 1.08 1.14 +0.06 (5.56%) HOLD AmInvest Price Target News
30/10/2020 1.10 0.99 -0.11 (10.00%) SELL AffinHwang Price Target News
22/10/2020 1.08 1.08 0.00 (0.00%) HOLD HLG Price Target News
19/10/2020 1.12 1.14 +0.02 (1.79%) HOLD AmInvest Price Target News
16/10/2020 1.10 1.08 -0.02 (1.82%) HOLD HLG Price Target News
16/10/2020 1.10 1.14 +0.04 (3.64%) HOLD AmInvest Price Target News
05/10/2020 1.03 1.08 +0.05 (4.85%) HOLD HLG Price Target News
05/10/2020 1.03 1.04 +0.01 (0.97%) HOLD BIMB Price Target News
11/09/2020 1.12 1.04 -0.08 (7.14%) HOLD BIMB Price Target News
25/08/2020 1.19 1.22 +0.03 (2.52%) HOLD MIDF Price Target News
25/08/2020 1.19 1.15 -0.04 (3.36%) HOLD KENANGA Price Target News
25/08/2020 1.19 1.08 -0.11 (9.24%) HOLD HLG Price Target News
25/08/2020 1.19 1.14 -0.05 (4.20%) HOLD AmInvest Price Target News
24/08/2020 1.20 1.25 +0.05 (4.17%) HOLD AffinHwang Price Target News


Price Target Research Article/News (past 6 months)
09/12/2020  HLG FGV Holdings - Privatisation offer at RM1.30/share
09/12/2020  BIMB FGV Holdings - FELDA in a motion to privatise FGV
09/12/2020  AmInvest FGV Holdings - Felda proposes GO at RM1.30/share
09/12/2020  AffinHwang FGV Holdings - FELDA to Take Control of FGV
04/12/2020  KENANGA FBMKLCI - December 2020 Review
18/11/2020  MIDF FGV - Uncertainties Abound
18/11/2020  KENANGA FGV Holdings - Above Expectations
18/11/2020  HLG FGV Holdings - Another Positive Quarter
18/11/2020  BIMB FGV Holdings - Benefiting from higher palm products prices
18/11/2020  AmInvest FGV Holdings - Plantation back in the black
18/11/2020  AffinHwang FGV Holdings - Strong Quarter on Higher CPO Prices
30/10/2020  MIDF FGV - Imminent Termination of the LLA?
30/10/2020  HLG FGV Holdings - Cabinet Approves Termination of LLA
30/10/2020  AmInvest FGV-Holdings- Cabinet agrees to termination of LLA
30/10/2020  AffinHwang FGV Holdings- Termination of LLA
22/10/2020  HLG FGV Holdings - Expression of Interest From Syed Mokhtar
19/10/2020  AmInvest FGV-Holdings - Felda To Terminate Land Lease?
16/10/2020  HLG FGV Holdings - Expression Of Interest From Syed Mokhtar
16/10/2020  AmInvest FGV Holdings - Receives Offer From Perspective Lane
05/10/2020  HLG FGV Holdings - Minimal Impact From CBP’s Ban
05/10/2020  BIMB FGV Holdings - Withhold Release order (WRO) By US's CBP
11/09/2020  BIMB MPOB Monthly Statistics August 2020 - August Production Increased 3.1% to 1.86m tonnes
25/08/2020  MIDF FGV Holdings Berhad - Higher 2H20 FFB Output to Support Earnings Growth
25/08/2020  KENANGA FGV Holdings - Within Expectations
25/08/2020  HLG FGV Holdings - 2Q20 Returns To The Black
25/08/2020  AmInvest FGV Holdings - In the black In 2QFY20
24/08/2020  AffinHwang FGV Holdings - Turnaround in 2Q20 Earnings



  32 people like this.
 
strattegist relax and cool
20/01/2021 6:13 PM
myshare I thought thy must hold 90% before thy can delist FGV.If thy cannot reach the %, thy will ask for extension or come up with a better offer..I reject the offer as my EP above RM2/
20/01/2021 11:54 PM
apprentice The fact that they are willing to pay 1.30 open market shows there is room for higher price.

I have rejected offer and expecting at least a 20 sen increase.
21/01/2021 9:07 AM
drkelvin20 @FGV, I am holding a doctor (PhD) title, but in Engineering. Carrying a doctor or PhD it also does not mean I know everthing bro.

Though I am in stock investment more than 10 years, honestly this is first time my positions are in doubt over the mandatory unconditional buy back offer.

That is why I seek opinion here, if I can just totally ignore the madatory offer reply slip? Or what is the consequence if I reject it, or if I ignore the reply for the mandatory offer?

Based on curren scenario, what is the best recommendation? My buying price @rm2+. And I have not follow FGV anymore for last few years.
21/01/2021 9:49 AM
PH_better Why must delist at RM 1.3 from IPO RM 4.55? No wonder PH won GE14 not BN or PN.
21/01/2021 10:50 AM
strattegist @drkelvin20... I would suggest for you to contact your remisier/stockbroker/Investment Bank with which you opened your account. You could seek all the answers pertaining to your questions by directing them to the right person and it would solve all your queries..
21/01/2021 11:29 AM
drkelvin20 @strattegist. Tq for advices. Yes, I may need to talk to my remisier. I hope we can bargain better price offer from FELDA, not at this low, especially now crude palm oil price at years high...

Really upset with those in FELDA management, at times where crude palm oil price show sustainable up trends, they decide to privatize it...
21/01/2021 11:57 AM
Poh Chye when fgv take over other companies, they look at future earnings to calculate the value. when felda want to privatize, they use past financials ignoring potential future earnings with the high CPO price. this is how they treat shareholders faithful and supporting the company. the poor settlers are the biggest victims. they subscribed at a high price. the ex CEO mentioned 1.70 to 1.80 is a fair price. felda, show some class lah.
21/01/2021 1:05 PM
strattegist relax
21/01/2021 1:59 PM
Zahrul Relax and rejected offer.
21/01/2021 2:11 PM
nice4ever To summarise, you can either accept or reject the Felda's offer:-

Scenario:-

1) Felda managed to secure more than 90% of total share capital - compulsory acquisition of remaining shares;

2) Felda did not managed to secure 90% of total share capital - Felda to extend / revise offer price to achieve scenario 1) or everything back to square.
21/01/2021 3:16 PM
strattegist relax and cool
21/01/2021 5:34 PM
james8888 Dont sell your shares at the market. Felda is buying RM1.30 . They need alot more. Dont sell and if they dont have enough, they will revise next friday.
21/01/2021 5:58 PM
Tattoo Chapter 16 Suspension, De-Listing and Enforcement

16.06 Request for withdrawal

(1) Subject to paragraph 16.07, a listed issuer may not request to withdraw its listing from the Official List, unless -

(a) the listed issuer convenes a general meeting to obtain its shareholder or unit holder approval and a separate meeting for the approval of the holders of any other class of listed securities, if applicable and the circular sent to the shareholders or unit holders and the holders of any other class of listed securities includes the information set out in Part A of Appendix 16A. The draft circular must be submitted to the Exchange together with a checklist showing compliance with Part A of Appendix 16A;

(b) the passing of the resolution for the withdrawal of listing is subject to the following conditions:

(i) the resolution is approved by a majority of shareholders or unit holders and holders of any other class of listed securities, if applicable, in number, representing 75% of the total number of issued securities held by the shareholders or unit holders and other securities holders respectively, present and voting either in person or by proxy at each meeting; and

(ii) the number of votes cast against the resolution, if any, by each class of listed securities respectively, if applicable, is not more than 10% of the total number of issued securities held by the shareholders or unit holders and other securities holders respectively, present and voting either in person or by proxy at each meeting.
Where the constituent document of the listed issuer imposes a stricter condition in respect of the votes required to approve the withdrawal of listing, such stricter condition will apply in substitution of the foregoing provision;

(c) the shareholders or unit holders and holders of any other class of listed securities, if applicable, are offered a reasonable cash alternative or other reasonable alternative (“exit offer”); and

(d) the listed issuer appoints an independent adviser, which meets the approval of the independent directors, to advise and make recommendations for the consideration of the shareholders or unit holders and holders of any other class of listed securities, if applicable, in connection with the withdrawal of its listing as well as the fairness and reasonableness of the exit offer.
21/01/2021 9:29 PM
strattegist relax
21/01/2021 10:38 PM
Wesley Lim If 1.30 cents break, will fly due to all that wants to sell already sold
22/01/2021 12:12 AM
Mabel Does any one has the last counts how many has Felda acquired?
22/01/2021 12:50 AM
rohank71 Thank You Tattoo for clarifying. There is NO delisting even if they get 75%. If they get 90% surely delisted. If they get 75%, FELDA needs 15% of public shareholder to support the delisting.
If they really want to delist pls offer a higher price, may be the IPO price.. Hahahaha...or dont delist. The offer must be genuine not for the fun of it.
22/01/2021 1:03 AM
zackboy Tell me why Felda wants to delist FGV while WSJ is very optimistic of palm oil?

https://www.wsj.com/articles/palm-oil-is-looking-like-a-hands-down-winner-11611225004?mod=searchresults_pos1&page=1

The price of palm oil, used in products from chocolate to toothpaste, is near a decade high and likely to climb further.

In Malaysia and Indonesia, sources of roughly 84% of the world’s palm oil, labor shortages caused by the coronavirus pandemic have reduced production, while major consumers China and India are buying more for cooking and manufacturing. Malaysian stockpiles are at their lowest levels in years.
22/01/2021 7:49 AM
newbie5354_ So FGV can maintain listing if Felda cannot buy enough FGV possible?
22/01/2021 9:22 AM
Mabel Thank you Tattoo and rohank71

Touche Zackboy!

Meow
22/01/2021 9:41 AM
Mabel Felda has until next Friday which is 29th January to conclude this.

Looking forward for nice angpow before CNY...

Meow Meow Meow
22/01/2021 9:55 AM
strattegist relax
22/01/2021 10:33 AM
james8888 yes. dont sell RM1.30 and don't accept the offer.
22/01/2021 10:37 AM
james8888 you can see they are desperate collecting shares at even RM1.30.
22/01/2021 10:37 AM
Mabel Meow james8888!
22/01/2021 10:41 AM
nice4ever FGV's non-interested directors are unable to, with clear conscience recommend the Offer as “Reasonable” to the minority shareholders of FGV, which also include settlers and employees of FELDA and FGV respectively.

KUALA LUMPUR: FGV Holdings Bhd’s five non-interested directors say the Federal Land Development Authority’s (Felda) offer of RM1.30 a share as not fair and advised minority shareholders to reject the offer.

In their recommendation on Friday, they said they have “NOT CONCURRED” with RHB Investment Bank’s independent advice to accept the offer.
22/01/2021 1:56 PM
RHB_ Maybank IB pls close shop. RHB more fair.
22/01/2021 2:29 PM
RHB_ 54.09% acq by Felda so far; 1 week left to closing date can get even 60%?
22/01/2021 2:33 PM
RHB_ 2nd Feb 21 1st closing date can extend?
22/01/2021 2:36 PM
RHB_ If revise when must decide?
22/01/2021 2:38 PM
Portfolio7 https://www.thestar.com.my/business/business-news/2021/01/22/fgv-non-interested-directors-says-felda-offer-of-rm130-a-share-not-fair
22/01/2021 2:52 PM
strattegist relax
22/01/2021 3:04 PM
500Bilis Extract -

Based on the above, RHB Investment Bank’s view is the Offer is NOT FAIR as the Offer Price of RM1.30 per Offer Share is lower and represents a discount of between RM0.12 (8.5%) and RM0.30 (18.8%) over the range of estimated value per FGV Share derived using the SOPV method of between RM1.42 and RM1.60.
22/01/2021 3:13 PM
dam82 brace for massive sell from FELDA if deal does not go through ... you should have divested from FGV and buy when its penny back again ...
22/01/2021 3:26 PM
MuttsInvestor I see.............. a "Malay" syndicate group forming. They with APPROPRIATE backing from ...#$@#$@@ .... Are more than HAPPY to TAKE OVER ...FGV . FELDA (DA HABIS) ...... group would not be HAPPY if they are not being "HELP"/"LOANS"/"Guaranttes from Govn" to shore their efforts to take FGV ...PRIVATE. ....... Watching a SOAP OPERA being played.
22/01/2021 3:30 PM
Lukey_Greek https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3123307

RHB IB's advice is Not fair but REASONABLE (pg 5). I dont see what's the rationale.

If based on the same logic, even the offer price is 0.01, RHB IB will also recommend Not Fair but Reasonable? How ridiculous.

Non-interested directors have done a better job than the so called 'professsional' in advising the retail investors by not concurred the recommendatations.
22/01/2021 3:30 PM
MuttsInvestor After ALL the HYPE of FELDA taking BACK all their Plantations from FGV a few months ago ........... ANY NEWS ? Heard that the "Termination of the LEASE to FGV" .... HAVE FAILED. ( DA..Gavm..PH ) is NOT supporting FELDA.
22/01/2021 3:36 PM
nice4ever RHB IB, they must make their client happy.
22/01/2021 4:18 PM
Lukey_Greek IBs are LICENSED bank. They must make their boss happy.
22/01/2021 4:24 PM
FGV_ dam82 really damned. Why admin no ban him unlike CalvinTanEng?
22/01/2021 4:36 PM
FGV_ Answer you any gain? If haters like dam82 post what will you do?

Mabel Does any one has the last counts how many has Felda acquired?
22/01/2021 12:50 AM
22/01/2021 4:39 PM
strattegist relax
22/01/2021 5:04 PM
dam82 chill lah bro ...don't compare me with that guy ..i hold FGV very long lah bukan now .. aand keen to invest back again once FELDA sell cheap ..i do pray FELDA won't sucessed in their take over .
22/01/2021 5:22 PM
Play4fun If felda sell cheap, then it will having big loses as most of the share bought at 1.3....
22/01/2021 5:34 PM
apprentice I believe Felda will revise its offer to around 1.50.

The present Felda management feels they have been shortchanged by FGV and can receive better returns if they take back the land.

Creating FGV and subsequent IPO back in 2012 was a big mistake, but no one dares object to the PM.

Billions of cash from IPO all gone, and now has a mountain of debt.

Moving forward, to appease the Felda settlers, Felda will borrow billions by issuing sukuk bond and take the land back by taking over FGV and delisting it. Still cheaper than cancelling the LLA.

Once delisted, the management can do whatever they wish, just like PLUS since its a private company.

They will quietly compensate the settlers who purchased their shares at 4.55 to keep them happy. Politicians need their votes.

My 2 sen.
22/01/2021 7:16 PM
DickyMe Yah gah? Revise to 1.50 gah? Duit mana mari? Jual lalang kebun sawit gah?
22/01/2021 7:39 PM
Ninja _07 https://www.thestar.com.my/business/business-news/2021/01/22/fgv-non-interested-directors-says-felda-offer-of-rm130-a-share-not-fair
22/01/2021 7:50 PM
Mabel # RHB_ 54.09% acq by Felda so far; 1 week left to closing date can get even 60%?
22/01/2021 2:33 PM

#apprentice I believe Felda will revise its offer to around 1.50.

The present Felda management feels they have been shortchanged by FGV and can receive better returns if they take back the land.

Creating FGV and subsequent IPO back in 2012 was a big mistake, but no one dares object to the PM.

Billions of cash from IPO all gone, and now has a mountain of debt.

Moving forward, to appease the Felda settlers, Felda will borrow billions by issuing sukuk bond and take the land back by taking over FGV and delisting it. Still cheaper than cancelling the LLA.

Once delisted, the management can do whatever they wish, just like PLUS since its a private company.

They will quietly compensate the settlers who purchased their shares at 4.55 to keep them happy. Politicians need their votes.

My 2 sen.
22/01/2021 7:16 PM

How to delist when Felda can't even reach 60%

Remember they need 90%, current run rate is only 54.09%

I hope this intention fail. I believe FGV can go evn more than RM 2 hands down with current CPO Price rocketing..

Meow
22/01/2021 10:23 PM
apprentice Mabel, above 2.00 is a bit too optimistic at current situation.

With revised offer price, they may have more than 90% acceptance.
23/01/2021 3:15 AM

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