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2021-11-17 15:43 | Report Abuse
It is KPMG resposibility to get the confirmation signed off by the debtors before they can themselves sign off the accounts, because of the significance due to the $ size of the debt.
2021-11-17 15:36 | Report Abuse
The problem here is they can't find the debtors who can confirm the $ due to SB. Management could have easily assisted.
2021-11-17 15:23 | Report Abuse
I am sure given the same conditions that FELDA has ( volume of shares on 1.30 ) to anyone of us on I3, I am sure we can manipulate the market and make a decent profit out of it, as well as maintaining the same volume in the books at the end of the day.
2021-11-17 14:52 | Report Abuse
Don't have to get stress out. We will have some indication where it is going by late tomorrow afternoon.
“I will allow the plaintiff (Serba Dinamik) to respond to the affidavits following their request within one week of today (Nov 11). As to their request for an ad interim [injunction] and balancing in the interests of justice, this court orders that no ad interim order be granted," ruled Justice Datuk Ahmad Fairuz Zainol Abidin.
2021-11-17 14:40 | Report Abuse
Felda has the ability to sell big volumes from 1.30 - 1.50+ and buy back again without causing any damage in their books. VERY EASY for them to manipulate. They hold hugh volumes on 1.30 from the takeover offer.
2021-11-17 14:18 | Report Abuse
CPO price and sugar prices have NO effect on the share price. There is not enough free shares available in the market. It can be easily manipulated by FELDA.
2021-11-16 21:41 | Report Abuse
taitaumau
Option 1 - This is the only clean & easy way to go. It will happen within 2 mths. They will have to make another offer, no choice.
Option 2 - This is impossble. Just for reducing another 5% stake is alot of shares & investors are fully aware of what is going on. Even iif there is a HUGH drop in price, the buyers might just hold back.
Option 3 - This is only possible if it is a force sell, like if it is a margin call. You don't have a choice. Can't see this happening, same effect as option 2.
Another option is for FELDA to organize for someone to agree to take a 5% stake crossing in one hit.
2021-11-16 05:48 | Report Abuse
Did we sell the technology for
" An Artificial Intelligence (AI) algorithm developed by Serba Dinamik Artificial Intelligence Team (SDAI) has correctly identified people with Covid-19 just by the sound of cough."
to Serba?
2021-11-15 21:41 | Report Abuse
They are not suppose to be buying. By right they have to be selling! That's Bursa for you.
2021-11-15 19:08 | Report Abuse
Well, that last lot of reported acquisition of 767,800 shares can only be between 0.50 - 0.51 (that is the high & low for 9/11/21) It is silly selling now, there is only one seriously buyer - FELDA. I presume today's low turnover @ a lower price most likely gone to FELDA. We will know in the next couple of days.
2021-11-15 13:43 | Report Abuse
Intrinsic99
I am 100% with you. Good comment.
2021-11-13 06:36 | Report Abuse
The volume weighted average price of FGV is currently around 1.50. It has been hoovering at this level for over a month. In the event of another offer (to be sucessful) it would have to be alot higher than 1.50.
2021-11-12 09:10 | Report Abuse
No action so far. Felda playing games with investors.
2021-11-11 12:25 | Report Abuse
Any news on the interim injunction relief hearing today 11/11 ?
2021-11-11 11:20 | Report Abuse
Karim.
Don't listen to your lawyers. Of course they will say, we will sue them. Win or lose, they are going to get paid. What a better way to generate business in this crisis time of COVID. It will help to pay for their running costs.
2021-11-11 11:10 | Report Abuse
Nikmon
I agree with you morally 100%. I believe that Karim is an idoit. As a businessman, he should have seen it coming & he should know through cost/benefit that there is always a solution to this. A settlement will yield more benefits. You might cost you a little bit more but your benefit will be a lot greater than the "COST". Personally I am not here for the right or wrong only to make money. Months after this, SB will not even be on my vocabulary or watch list.
2021-11-11 10:03 | Report Abuse
Nikmon
Assuming if all parties agree to some form of an agreement in the case management. Anything is possible, Malaysia boleh, all you need is a couple of this & a couple of that & it will KawTim. Nothing is impossible. It's whether you are prepared to compromise or prefer too be arrogant. Then those investors have got it right, forget about the ethics of it.
2021-11-11 09:36 | Report Abuse
If Karim have Kaw Tim this before the blow up some of those "smart investor" would have have make a killing. It's hiccup like this where you can make a greater profit if it goes your way.
2021-11-11 09:32 | Report Abuse
Nikmon
Don't worry for the smart investors. They knew that they were taking a greater risk for a possible greater gain. Just like the investors on AAX, they are taking the risk hoping for a greater profit. They knew AAX will be here a year ago. I did they same with AAX & took a decent profit out of it a year ago.
2021-11-11 08:57 | Report Abuse
Only Felda can manipulate the price of this counter. They took all the acceptance of the takeover offer at $1.30, plenty of room to sell & buy.
2021-11-11 08:10 | Report Abuse
This is a slam dunk deal for Bursa. Wrong move for a cinapak. When you are talking Billion$ problem, you should have consider throwing a couple of Million$ chicken feed here and there and every thing would have KAW TIM. Ask Bossku, this is Malaysia, everything BOLEH! It would have easily go away before the blow up. Too late now just got to go through the process.
2021-11-11 05:39 | Report Abuse
The smart thing is to keep buying for another month, and then dump it to bring it up to 25%. Pump & Dump. The result will be a lot lower price enabling them to make a lower offer.
2021-11-11 05:03 | Report Abuse
Here they go again. Felda now has 79.65%. This leaves only 20.35% available for public holding. It was at 20.4% before the latest update.
2021-11-09 20:32 | Report Abuse
$4.00 is never going to be in the picture. Be realistic the high for Fgv is $2.18 in 2017 & 2018. If they are buying at $1.50 then that will be average price they are going to base their calculation (forget about sentimental true value) If it gets close to $2.50 you will be laughing. Anyway it is still at least a 3 months wait!
2021-11-09 14:35 | Report Abuse
The problem here is the 6 + 6 extension that has cause the loss of liquidity. That is why there is a 25% requirement for public holdings.
You are not going to see any movement until closed to GE15 or Jan 2022. Isn't there a provision of billions of $ in the budget to assist the settlers? Suggest they start using it or it won't be there if BN can't beat PAS & PN.
2021-11-08 14:44 | Report Abuse
Looks like Felda is going to either make another takeover offer or reduce their holding before GE15.
2021-11-08 11:49 | Report Abuse
My apologies. Looks like Bursa has granted them another 2nd extension until 2/02/2022.
"The Board of Directors of the Company wishes to announce the following Status Announcement in conjunction with the release of the Company’s quarterly results for the second quarter of the financial year ending 31 December 2021, pursuant to Paragraph 3.3 of PN 19 of the LR of Bursa Securities:
(i) As at the date of this announcement, the Company's public shareholding spread based on the Company’s Record of Depositors as at 25 August 2021 is 13.47%.
(ii) The Company has yet to formulate a rectification plan to address the shortfall in the Public Spread Requirement.
(iii) Bursa Securities, vide its letter dated 4 August 2021, has granted the Company an extension of time of six (6) months until 3 February 2022 to comply with the public shareholding spread requirement. "
ABSOLUTELY RIDICULOUS 6 mths + 6 mths. ( one year of loss liquidity in the FGV shares )
2021-11-08 11:16 | Report Abuse
"The Board of Directors of the Company wishes to announce that Bursa Securities, had vide its letter dated 23 March 2021, granted the Company an extension of time of six months until 3 August 2021 to comply with the Public Spread Requirement.
As at 19 March 2021, the Company's public shareholding spread was 13.99%. The shortfall in the public shareholding spread of the Company arose as a direct consequence of the unconditional mandatory takeover offer by Federal Land Development Authority (“FELDA”) which had closed on 15 March 2021.
The Company will use the extension of time granted by Bursa Securities to formulate a rectification plan to address the shortfall in its public shareholding spread and to allow sufficient time for FELDA to formulate a firm plan on FGV’s listing status.
FGV will make the necessary announcement in relation to the status of compliance of the Company’s public shareholding spread accordingly."
Dated :24/03/2021
Main Market Listing Requirements of Bursa Malaysia Securities Berhad:
"This Chapter sets out the continuing listing obligations that must be complied with, amongst others, by a listed issuer, its directors or advisers in addition to other continuing listing obligations which have been set out in other Chapters of these Requirements.
PART B – CONTINUING LISTING CRITERIA
8.02 Compliance with shareholding or unit holding spread requirement
(1) A listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) or listed units are in the hands of public shareholders or unit holders. The Exchange may accept a percentage lower than 25% of the total number of listed shares (excluding treasury shares) or listed units if it is satisfied that such lower percentage is sufficient for a liquid market in such shares or units. FAQ 8.1"
SO WHAT IS BURSA DOING? TURNING A BLIND EYE TO THEIR OWN RULES?
2021-11-05 14:09 | Report Abuse
If Felda is buying again today @ 1.50 , then if there is revised offer, it will be at least 1.80 to 2.00
2021-11-05 06:19 | Report Abuse
FSX123
I believe you have a serious attention disorder. You keep posting on Serba even at 2.26 am. What you can't sleep? Only excuse is if you are o'seas, I doubt.
2021-11-04 13:48 | Report Abuse
FSX123
Seriously, do you have to keep posting these propoganda every week. Have you got nothing better to do?
2021-11-04 06:19 | Report Abuse
Bursa can't just turn a blind eye to this because it is a GLC. Trading should be suspended until they do something,
2021-11-04 05:56 | Report Abuse
According to records Felda bought
29/10 - 557,100 out of a turnover of 669,600, low 1.47, high 1.50
1/11 - 436,100 out of a turnover of 2,356,400, low 1.49, high 1.55
2/11 - 449,100 out of a turnover of 777,800, low 1.50, high 1.53
From these records we can see who is doing the majority of the buying.
2021-11-03 21:28 | Report Abuse
I am very sure Felda cannot be holding 79.60% of the total shares without making another formal bid, nor are they allowed to keep acquiring more shares on the market. Bursa should put a stop to this.
2021-11-02 15:32 | Report Abuse
Which companies need Khazanah's RM3 bil help?
https://www.theedgemarkets.com/article/which-companies-need-khazanahs-rm3bil-help
2021-11-01 09:47 | Report Abuse
Bursa is definately turning a blind eye to what Felda is doing. They should be off-loading or compensate those who took the offer price for the difference.
2021-11-01 09:40 | Report Abuse
The lowest in Oct is on the 4/10 @1.35. They have been buying above the original offer price.
2021-10-29 16:30 | Report Abuse
Finally we begin to see the buyers committing to take out the sellers at 1.50 and in decent volumes in one go.
2021-10-29 15:47 | Report Abuse
Maybe left hand selling to the right hand creating a false interest. Trying to entice the sellers to off load.
2021-10-29 15:34 | Report Abuse
Those 2 buyers who have been playing around with the buying bids must have read my comments. They have finally disappear.
2021-10-29 15:28 | Report Abuse
The same 2 buyers keep adjusting their buy qty upwards, but the serious sellers are not prepared to take them out. What's that tell you.
2021-10-29 15:02 | Report Abuse
Bring it on. Serbadk is going to create some billionaires.
2021-10-29 14:59 | Report Abuse
SCIB & KPOWER both in the green zone!
2021-10-29 12:03 | Report Abuse
Forget about PH. Only person who cares about FGV is BOSS KU (the son of the architect of FGV). It will be another disgrace to his name after the 1MDB saga.
2021-10-29 11:51 | Report Abuse
Felda_settlers
When do they ever care about what you or we WANT. We have all be con from the IPO onwards.
2021-10-29 11:43 | Report Abuse
Somebody is playing around with the bid quantity every 30 seconds. It goes up or down by up to 50,000 qty, giving an impression there is interest in it.
2021-10-29 11:35 | Report Abuse
Can make any statement now and they will all believe you.
2021-10-28 14:35 | Report Abuse
Current high is now 0.785. Not much room to move, and Joh's stock does not normally take a run, slow moving.
2021-10-28 14:28 | Report Abuse
newbie9893
0.775 is the aug 2020 high. Where do you think it is going loading up at 0.72?
Stock: [DSONIC]: DATASONIC GROUP BERHAD
2021-11-18 09:05 | Report Abuse
The first impression with buy back is the company has got excess cash and don't know what to invest in or what to do, so they buy back their own shares. Need some new Directors.