NAPS/NTA: RM1.77. if two times book value, Poh Huat will be RM3.54.
EPS: RM0.26. if PE 14 it will be RM3.64.

Unless there is stock split or bonus issue or special dividend, it is justified for Poh Huat to go above RM3.70???

In any event, lucky those who bought below RM2.

this stock so hot when the flames will stop? hehe..

ccmdbio acquired all pharma divisions from ccm. How the purchase paid? by cash or share? when payment due to ccm?

If go through, it will affect the balance sheet, is it not? FGV will have to issue new shares (dilution of share), will have to borrow (increase liability), and earning per share will also decrease. So why did GoodCompanies say either way the share price will increase??? please explain

What will happen if the purchase of Eagle Plantation rejected or accepted at the EGM? Share price increase if rejected? Share price fall again if the deal go through? EPF the only major shareholder opposing.. Plus minority like us. So it is a done deal, unless politic comes into the picture and Govt has to drop the deal

Post share split and share bonus, what is the current PE, EPS, NTA? Thanks in advance for the info.

what BS??? Top gainer by one sen??? stupid news..

another new low.. already below NTA.. damn..

bloody funny.. LMAO.. ok la bro.. my portfolio down by 15%.. solely due to farking FGV which costs me 18% down.. it swallows all my gains from Poh Huat.. This year 2015 is not a good year for stock players

where to get MIDF report?

Totally agreed with Kian Leong.

I am perplexed at the action of EPF and KWAP. They have tons of money and they should have staying and holding power. Instead of selling they should pressure the board or request for CEO removal. They are institutional shareholder and their shareholding should be considered permanent capital

Instead they sell at dirt cheap price and suffer millions of losses which will be borne by us, stupid rakyat who continue to put trust in them.

QL is overvalued. It should be priced at between 3.25 to 3.50. I will buy it once it drops to that level. Now it is expensive.

Tomorrow ex dividend date. Brace for impact. Big sell down. Hehe

Thanks Kian Leong for good info.

I really hope that this has got nothing to do with backdoor favor for 1MDB. FGV help Rajawali, Rajawali help 1MDB through proxy.

FGV miss out the point about this Eagle deal being way too expensive. We all know that the plantation there is good. But when it was bought at the exorbitant price, it is not good anymore.

A decent car like Toyota Camry or Honda Accord is also good. But if it is priced at RM1 Million, it is not good anymore. Instead it is stupid to buy at that price.

Kian Leong: What? 50k? Are you joking?

According to CIMB Research, if the deal go through, the share price will take another 29 sen hit. So it should be priced at RM1.69. Somebody please correct me if my understanding of the research is wrong.

All fellow losers (hahaha), we should stay put if we have staying power. I strongly predict that this year the LLA will provide gains similar to 2013 to appease shareholders. This LLA is like a magic wand that can be used to inflate profit. FGV used it in 2013 and they will use it again this year. Maybe not much but a 10 sen addition to Earning per share will increase the share price another RM1.00. So stay put until February 2016 when they announce 4th Quarter 2015.

This time around, I think the share will take another hit on 26/6/2015 after the dividend ex-date. Those who plan to take the 4 sen dividend might want to exit after that. Brace for another sell down next Friday.

I forgot to mention that during AGM, the EPF Rep also urged the Board to consider share buyback. The reason is no brainer since the share has tanked so much. Instead of buying other plantation and companies, EPF argued that it is better to buy own shares.

I totally agree with EPF position. And the fact that yesterday EPF CEO said that they will consider to exit FGV should put enough pressure on the management.

Our hope is a management and board cleanup. New management will bring back confidence and ensure better cost efficiency

Read my note above. They will brief the analysts. So no answer yet! It is complicated and cannot be explained on the spot yesterday

If I am smart, I would not have touched this counter last year. Made me poorer by RM2000 on paper. Hahaha.

I attended the AGM yesterday. I posed two questions to the Board.

1) LLA Agreement. CEO and CFO promised to brief the analysts. We investors have to wait for the report from those analysts after the briefing. CFO agreed that LLA is confusing, one year FGV gain 500 Million, another year lost 100 Million.

2) Cost efficiency and profitability. I argued that other companies made better margin of profit on revenue, more than FGV. I also argued that there is no point of increasing landbank and revenue if costs wise, we made such a low profit. Revenue of 16 Billion against meagre profit of 500 Million, less than 3%. The CEO did not give satisfactory answers. Instead he argued against comparison with other companies. He also said that our margin is low bcoz FGV also has to buy FFB from outsiders, not only getting it from own plantation.

The AGM begun in tense note because the first guy to speak start attacking and mocking the chairman. He quoted last year Annual Report 2013, mocking all the grand vision and bombastic words by Chairman. It is bloody fun and many of us applauded him. However, after about ten minutes, a few thugs start approaching him and shouting at him. He responded by arguing that he has the right to speak as a shareholder who lost tens of thousand ringgit. Then, one of the policeman took away his microphone. Chairman argued that he has taken so much time and want to let others speak.

Because of that incident, I decided not to attack the Board and confined my query to two questions above. Scary maa. Hahaha. Had the incident not happened, I might also question the board on UDA cleaning charge of RM680k per month and many stupid buy of luxury hotels etc. But I decided to let it pass.

MSWG also attacked the board representation and chairman position. EPF also voiced unhappiness about Indon purchase and direction of FGV.

The Indon Eagle deal cannot be discussed since FGV will organize EGM in October.

There was also a vote against directors' fee. However we were defeated bcoz we only have about 15% shareholders versus them 84%. But at least we made our unhappiness known to the board.

It was a very thick skinned board I have ever seen. The CEO and Chairman were whacked left and right and many asked for removal of CEO. His defence was that his team members have years of experience in plantation.

Maybe we all should write to MSWG and EPF to urge for CEO and Chairman removal.

The future of FGV depend on a new and competent management.

I thought I posted a comment yesterday. Who removed it??? Regarding AGM which I attended yesterday

why so much drop? any bad news?

my paper loss already 2000. bcoz i have 2000 shares at average cost of RM2.68.

who else here suffer loss? in solidarity with me.. Haha

with so many stupid deals I wonder whether the NTA still remain at 1.70 and whether the cash reserve still remain the same..

Are we looking at falling knife? when will the selling pressure stop? what is the lowest possible price 1.50 or 1.30 or even lower?

Yes I will attend. Lawan Tetap Lawan. Haha.

Just not sure whether policemen will rampas microphone like what happen to Mahathir. LOL. I bet there are hundreds ready to question the BOD on that day.

cpo: can you answer my concern on LLA? Why FGV gain 500 Million LLA in 2013? Why FGV lost 173M LLA in 2014? Based on the agreement, 250M plus 15% LLA every year. 2013 LLA cash payment 320M 2014 340M. So it was paid already. So what the heck about this provision of 173M in 2014? This LLA stuff really kill FGV and confuse us the investors. Not transparent.

Further on the issue of low CPO price, flood etc.. My question is this. Why FGV manage to increase revenue to 16B compared 2013 12B? Revenue increase but profit so low!

What kind of company that has revenue of 16B but profit of only 500M? It was about 2.5% profit on the revenue. It was too low. Something is not right with FGV re too low profit versus such a big revenue. Not many companies have revenue more than 10 Billion.

Ring: I think many of us still don't get it. You look at the revenue for 2014. It was 4 billion more. The problem is LLA. Why 2013 positive gain 500M but in 2014 negative 173M? This LLA really distort the FGV profitability.

It is either 2013 is a smokescreen where 500M gain inflated by revision in LLA and 2014 is the real one with LLA minus 173M

Or 2014 LLA provision of 173M is due to election fund for 2013 which was only recognised in 2014.

The LLA cash payment is consistent. 320M to 340M every year. What I don't get it is this revision of projection which goes to hundred of millions.

Imagine 2013 with no LLA gain of 500M (494M to be exact)? So FGV net profit is only 600 Million (1.1 Billion minus 494M LLA). So is this gain justified and on what ground?

Imagine 2014 with LLA gain of 500M. The net profit will be 1 Billion (500M plus 500M LLA). We will be back at the profit level of 2013.

So this LLA thing is very confusing and affect the accounting a lot. Distortion of reality!

AGM 16 June 11 am at felda platinum park KLCC. We need people to voice out this LLA issue so the Board have to explain to investors.

I just received and read the Annual Report. I think the main problem is the LLA liability.

1) Revenue: 16.4 Billion (2014) versus 12.5 Billion (2013)
2) Net Profit: 522 Million (2014) versus 1.1 Billion (2013)
3) EPS: 8.4 sen (2014) versus 26.9 sen (2013)
4) LLA: Negative 173 Million (2014) versus positive gain 494 Million (2013)

The way we look at the problem, it is clear that LLA is the main culprit. In term of revenue, there is an increase of RM4 Billion. Yet the profit drops because in 2013, FGV gain from LLA in the sum of RM494 Million but in 2014 FGV lost from LLA RM173 Million.

I still cannot understand this LLA thingy even after reading several analysis. It is mind boggling. In 2013, cash payment to LLA is RM325 Million whilst 2014 it is RM336 Million (plus minus). According to the agreement, FGV has to pay LLA RM250 Million every year plus 15% profit from FFB. So if we look at the cash payment, it is quite consistent in the range of RM320 to RM340 Million in line with the agreement.

However, here is the twist. In 2013 FGV gains RM494 Million due to revisions in projections in the LLA. That is why 2013 FGV net profit is RM1.1 Billion. What is this projection and how on earth FGV can claim close to 500 Million in 2013 for this so called revision of the projection?

In 2014, instead of gaining, FGV suffer loss of RM173 Million in the LLA. So that means 2013 gains was due to LLA (500Million) whilst 2014 the sharp drop because there is no more gain of 500 Million LLA, instead has to deduct a further 173 Million.

So guys, please enlighten us on this LLA. Because LLA is the main culprit. Of course, incompetent and poor management is still there, losses from acquisitions also there. But nothing compared to this LLA monster.

In the AGM, we need the Board to properly clarify LLA provision so that shareholders will know better.

yes agreed with play4fun. those who have complaints, plz attend AGM. Go through the Annual Report and voice out any concern. We have to exercise our right as shareholders.

Hopefully they will allow investor to speak up. I went to UEM Sunrise last week. Quite a number of people criticizing the Board. Understandable bcoz UEMS also suffer share collapse. It all depends on chairman. But at least UEMS is better managed and the board comprised of qualified people, not political appointee. And UEMS suffer bcoz of Iskandar problem and China developers carpet bombing the area with tens of thousand of condo launching.

can anyone please enlighten us on the effect of split on NTA, EPS etc. Thank you. Today it has been split already right? Meaning that there are five time increases in the amount of shares?

I just check the Annual Report. Chairman is due to receive RM590,000.00 for FY14. Can anyone enlighten us on the average allowance for non-executive chairman for GLCs like Sime, Axiata, TNB, TM etc. I just feel it is not right for a non-executive to receive more than RM300k not to mention for this company where the share price has collapsed.

Fellow suffering shareholders,

Please join me to attend the AGM on 16 June and raise hell together. Hehe.

1) We have to attack the director allowance, especially to Chairman. I find it very insulting to shareholders to award chairman RM700k (last year) when the Group suffer share collapse

2) We have to raise hell about the costs, the management, the direction, several deals including the purchase of plantations, hotel etc which cause the Group to lose money

Lawan tetap lawan.

anyone who is not yet a shareholder but interested to attend AGM on 16 June, I offer you to be my proxy. I cannot attend bcoz on the same day I will raise hell at the AGM of FGV. Hehe.. Too bad both conduct AGM on the same day. FGV has lot of issues so I chose to go there

On another note, the name of Rafidah was badly spelled, with Jubur part of her name. I think Supermax and the company secretary should carefully spell people name, especially the future chairman.

we have so many oil and gas players.. alam, bumi armada, perisai, perdana, MHB, TH Heavy, SKPetro etc etc.. with price of oil so cheap, how are they going to make money??? The only choice for them is to merge, cut costs, etc..

Any prospect for oil and gas industry? Any chance it can go to USD100 again?

I attended the AGM today. Got flour as door gift. Hehe. Plus Kenny Rogers card.

I asked the Chairman during AGM on his suitability as an INDEPENDENT bcoz he holds shares (I think more than 5%). His answer was very brief that his shareholding is below 10%.

I thought more than 5% already means he is a substantial shareholder and on that basis how come he is considered an independent director? His son also should be redesignated as a non-independent by virtue of their relations.

I am happy to see MSWG putting few queries. I hope MSWG will write a letter to the Board regarding my query on the so called independent chairman.

I do not mind the CEO getting RM2M or RM3Million. He deserves it.

My problem is why QL need so many executive directors aside from CEO? And these exec earns RM1Million each. Maybe one CEO, one COO and one CFO. 3 should be maximum. QL is not yet a five star company like Petronas who needs many exec directors.

Dear All,

Your opinion on directors' salaries? Here the CEO get RM2 Million. 4 other exec directors get RM1 Million. Don't you think it is over the top. Why do QL need so many exec directors in the first place?

UEMS is quite a defensive stock due to the land given (almost free) in Iskandar. It is also owned by Khazanah. I have more trust in Khazanah top management than 1MDB.

The current problem with Iskandar is China developers bombing the area with thousands of units launching.

Long term outlook though is still good. Iskandar will be a good place to invest

FGV out of FBM KLCI to be repalced by Westport.. No longer top 30 counter

wait until bursa announcement. maybe in a week time to see who dump millions of shares. Top vote goes to EPF..

someone at the queue with 6 million shares to sell at 1.25. UEM Khazanah? Why dump so much? The AGM is on 21/5/2015

wow.. big elephant leaving the room??? 3.5 Million shares dumped within first hour of trading..

what happen? two days down 20 sen??? egg counter overvalued?

with the controversy surrounding 1MDB, what is the odd of Ismee moving to FGV???

People put premium of Petronas brand. That is why it is higher than Alliance 4.25. To be fair, Alliance is too negative. Maybe RM5 should be a reasonable price. But at current 5.86 is definitely expensive, notwithstanding Forbes listing as one of the top companies in Malaysia

Rafidah join already or not yet as Chairman?

There is no catalyst for this stock to go up. Need to completely change the whole management team and manage costs properly. EPF also need to stop dumping the shares. Pity those who bought at the high price above RM4.

Why Alliance target price for PChem so low at RM4.25 only?

what is the best thing for MFlour AGM? Any experienced attendees here? Thinking of going on 20/5/2015

Just afraid that this rally is politically motivated. Due to Rompin by-election on 5th May 2015.

Jeff: How high can it go? If only RM2.20 then it is based on consensus among many analysts RM2.20 being the fair price for this stock.