To protect its unit holders — us, the employees — from further losses, EPF sold all its shares in FGV in July. EPF said it was especially concerned with the lack of separation between its board of directors and the major shareholders, namely the government.

Part 3: Datuk Azhar’s To-Do list at FGV for 2018
http://ipom.global/2018/01/04/part-3-datuk-azhars-to-do-list-at-fgv-for-2018/

https://ms.wikipedia.org/wiki/Azhar_Abdul_Hamid

Two FGV officials among 11 candidates for CEO, says Azhar
Read more at https://www.thestar.com.my/business/business-news/2018/10/09/two-fgv-officials-among-11-candidates-for-ceo-says-azhar/#FtClCmIIrriKczq1.99

Impairment loss on intangible assets 561,827(like SapNrg big loss?). This is non-cash loss that make FGV drop too 88.5 sen all time lowest.

Unaudited As at 30 September 2018
Unaudited As at 31 December 2017
Unaudited As at 1 January 2017
Amount due from a significant
shareholder 303,206 215,389 182,531

Who owe FGV and why the figure keep increase?

Loss QR also up why?

Vincent Tan starts temple fund to buy back land from developer
Read more at https://www.thestar.com.my/news/nation/2018/12/01/tycoons-way-to-solve-hot-issue-vincent-tan-starts-temple-fund-to-buy-back-land-from-developer/#pAfbbMzea382Vhwu.99

Why drop 2.5 sen? Is it concerned VT start temple fund news?

Halim 11% you got 12% shares?

TheMiddle Against director’s fee in next AGM.
30/11/2018 20:42

Suma ada kerja kosong? Pukul lalat dapat gaji RM 1 juta 3 bulan?

Every1 want to buy cheap ctr. Is cheap=good?

trulyinvest Apa ini? Bankrap n bungkus saje la
30/11/2018 22:58

EPF bought bec follow Affin? But after QR realised they are being conned?

Before QR EPF bought but cut loss after QR?

How much order books won since PH won GE14?

YOY sales drop even Proton sales increase why?
https://klse.i3investor.com/servlets/stk/fin/1619.jsp

Will Sep'18 QR high sales repeat in Dec when tax holiday from 0% GST no more?

Even after Geely join DRB every qtr DRB suffer loss why EPF can push high-high? Some of those commenting here work for EPF/TH behind pushed DRB from 90 sen?

Armada profit got hundred million?

Market cap RM 2 billion mau profit RM 1 billion so PE 2 ada betul?

Nobody read QSR CFO join Icon? What he will do here or why he want to join lousier company like Icon ?

If PNB wants to own 40% Sap better buy from open market now onwards haha.

Sorry I own many counters but I am sure PNB until today not yet own 40% Sap true or not?

Bro how can PNB own 40% Sap? Are you sure all of present Sap shareholders won't subscribe RI?

ttsttay Just imagine....PNB owns 40% of Sapnrg at a price of 30c, if the share price doubles to 60c, they already recoup all their investment even before the RI is being realised.
Do you seriously think the new government would allow PNB to throw away billions down the drain just to buy the so called useless Sapnrg junk shares? Come on....tunM would never allow that to happen unless its to PNB's benefit.
01/12/2018 09:54

With RM4 bil from shareholders, can Shahril turn things around at Sapura Energy?
http://www.theedgemarkets.com/article/rm4-bil-shareholders-can-shahril-turn-things-around-sapura-energy?fbclid=IwAR2DiyykT6OZWum7fma51ZYruOYI3ljT_I2to07xAc6q-tQQlIxsE1pPk5Q

Azhar may be 3 mths as FGV CEO but include chairman post already over 1 year in FGV. What has he done other make FGV share drop to lowest ever?

If I were to decide on CEO if they make their counter share drop 25% or more within 1-2 year they should be replaced if they are not founder or owner in that company. Yesterday Star CEO Wong Chun Wai resigned to take that responsibility.

Why no1 talk abt FGV new CEO search? I heard by 31st Jan they are looking at new CEO true? Azhar even said 1 or 2 candidates they have in mind internally. How abt external candidate? Will they consider and who are they? Can the internal candidate reverse slump in FGV share price where Azhar, Z, Emir Mavani failed as CEO?

RON 97 price to decrease by 31 cents
Read more at https://www.thestar.com.my/news/nation/2018/11/30/ron97-prices-to-go-down/#eAd0KHoiI0ym2zHl.99

Ron 97 drop can reduce FGV transportation cost?

Why govn no White Paper on Icon like Felda? Ekuinas not under Azmin Ali?

So 10 sen done?

bulldog Qbuy@10 bargain hunting
27/11/2018 15:49

Contraband catch more RM 1 billion extra tax can collect. IRB hiring more staffs?

Since Felda settlers helped PH to win GE14 by right PH govn should help them more. Abolish Felda, FGV and settlers debts is 1 way.

Of course PH cannot spend exactly what BN govn spend otherwise what for people change govn?

takashi86 you are wrong to say govn no money. When they pay politicians like Tun M, LGE Saifuddin 70-80K monthly where the money come from?

TheEdge side PH?

LGE/Tun M Star paper side MCA(BN) pls beware.

If no buy can believe why up today?

dam82 FGV Holdings Bhd is likely to record another round of losses in its current fourth quarter ending Dec 31, marking the group’s negative earnings for the third consecutive quarter.

None has a “buy” view.

“It is also looking to beef up returns from its downstream assets and has identified 11 non-core investments for divestment, which could net the group approximately RM250mil to RM300mil in proceeds.

Read more at https://www.thestar.com.my/business/business-news/2018/11/30/fgv-likel...
30/11/2018 08:33

http://www.theedgemarkets.com/article/cover-story-saving-felda

TheEdge yesterday said privatisation so I just add possible 10th Dec can discuss.

10th Dec Felda White Paper possible to discuss FGV privatisation? Big loss QR govn can privatise FGV at lower price?

Kenanga say "market outperform" in NST so up today? Why TP is 1.46?

No i3 shareholders? Why most active after loss QR?

Weeyaa how come you also said PH will be shaking in next PRU?

Stock: [FGV]: FELDA GLOBAL VENTURES HOLDINGS BHD
Nov 28, 2018 05:24 PM | Report Abuse
previous... when anything wrong... BN false... now... PH false.... PH will shakeing on next pru
https://klse.i3investor.com/servlets/cube/post/weeyaa.jsp

Actually Felda(or FGV) 1 of reason caused BN to lose GE14. If PH does nothing will they suffer same fate like BN in GE15?

Privatisation of FGV?

While the notion of taking FGV private has been bandied about, the setback has been its high price tag. At its close of RM1.22 last Thursday, FGV had a market capitalisation of RM4.45 billion. With FELDA’s 33.67% stake fetching a market value of almost RM1.5 billion, the remaining shares would be worth RM2.95 billion. Assuming a 20% premium, the price works out to RM3.54 billion.

Note that government agencies such as pilgrim’s fund Lembaga Tabung Haji, Kumpulan Wang Persaraan (Diperbadankan), armed forces fund Lembaga Tabung Angkatan Tentera and several state governments are all shareholders of FGV.

FELDA, Koperasi Permodalan FELDA (KPF), which is held by FELDA settlers, and the various government entities control about 66% of FGV. This means that FELDA — if it strikes a deal with the government agencies and the cooperative — could take over the rest of the shares that have a market value of only RM1.51 billion. Assuming a 20% premium is forked out, this would entail a payment of RM1.81 billion.

However, there could be problems as FGV’s initial public offering was at RM4.55 apiece, which is almost four times higher than its current trading price. So, it would take some RM5.64 billion to privatise the 34% stake not owned by FELDA, KPF and the government entities at RM4.55 each.

It would also be difficult to explain as when FGV was listed in 2012, it was stated in its prospectus that 36% of its oil palm trees were between the ages of 21 and 25 and 16.9% were more than 25 years old.

So, 52.9% of FGV’s plantations were regarded as old six years ago. Now, how did FELDA not expect the group’s current predicament when there has been aggressive replanting that impacted earnings adversely?

When a senior editor with a newspaper saw FGV’s prospectus in 2012, he said, “This is the first time I have seen such an old age profile for trees — more than 50% of the trees are above 20 years old. It’s like FELDA is disposing of its ageing plantations.”

Indeed, FGV has performed poorly, largely due to its plantation profile and weak CPO prices. In its six months ended June 30, it suffered a net loss of RM21.9 million on revenue of RM7.04 billion. It had deposits, cash and bank balances of RM1.64 billion, and short and long-term debt commitments of RM3.1 billion and RM1.13 billion respectively.

FGV also owed RM109.28 million to a significant shareholder. In the six months ended June 30, it forked out RM95.13 million in finance costs.


Listing was a mistake

Coming back to the White Paper, sources say it will likely state that the flotation of FGV was a mistake. They add that in 2009, FELDA’s net debt stood at RM1.5 billion, which translated into a gearing of 14%. However, as at June 30, borrowings stood at RM8.025 billion or a gearing of 46%.

FGV’s listing raked in RM5.99 billion cash for FELDA and RM4.89 billion for the company. While there are details of how the funds were spent, the explanations are “sketchy at best”, the sources point out.

According to the sources, the White Paper says research on the issues indicates weak management, bad corporate governance and misappropriation.

In FGV’s flotation exercise, all ancillary activities of FELDA and its plantations were injected into the company on a 99-year lease. This ensured that the agency would receive a fixed payment every year and 15% of the plantations’ operational profits. FELDA was also slated to receive 33.67% equity interest in FGV and enjoy the dividends and benefits of any share price increase.

But this has not happened, and FGV’s indicated gross dividend yield at its last price of RM1.22 on Thursday was 4.1% with payouts of between 1 sen and 10 sen per share since 2012.

Prior to FGV’s listing, it was paying FELDA yearly dividends of between RM100 million and RM150 million. Based on total dividends paid in FY2016 and FY2017, and FELDA’s 33.67% stake in FGV, it received RM12.3 million and RM61.4 million respectively.

It is also noteworthy that FGV has a 51% stake in sugar refiner MSM Malaysia Holdings Bhd, which ended trading at RM2.81 last Thursday, which translates into a market capitalisation of RM1.97 billion. Note that MSM’s stock is trading at its lowest level since mid-2011, hitting a low of RM2.80 in intra-day trade last Thursday.

Nevertheless, much of the issues at FGV only came to light when, as a publicly traded company, it was forced to reveal much of what transpired at the company, including its payments for assets, among others.
http://www.theedgemarkets.com/article/cover-story-saving-felda

Rantau election pls vote back BN.

Before GE14 we talked PH good what happened now Tun M/Kak Wan?