From 1.40 at the beginning of July and now 1.17. 17% drop in a month time. If RI going to use another month to finalize, with another 17% drop, it would be around 0.97.

any big fund selling? Else why pushed down at 430pm?

pushed down at 430pm.

1MDB defaulted payment. MoF no money to bail it out. Later at 230pm, Bursa gonna be in red.

Now you know that MoF also no money to bail out 1mdb. Those who believe MoF still have lot of cash, must go for a serious reality check.

1mdb defaulted payment as reported by The Edge.

what about c16?

!1MDB default is coming to town...Market seems to prepare for it.

seem market is preparing for 1mdb default.

it would be possible if 1mdb default payment by 12am tonight.

Shahrir gave such statement, FGV sure jialat already. No longer a concern to them.

How would the Q2 results be? Ramadan was in May and Raya in June. By right, should have sold more chickens to the market to cater for the demand.

Many retailers do not understand RI and its cumbersome process. Hence, no surprise if they are panic and selling. And the counter price also on downtrend, so it's even more so to sell.

Rookie 95, they are aiming to raise rm2.86 billion and they are issuing 2.86 million new shares. Hence, the indicative offer price is RM1. If they offered 0.85, then they won't be able to raise rm2.86 billion but rm2.43 billion.

If they still aim to raise RM2.86 billion, RI have to be offered at RM1. In order to that, during the price fixing, the price has to go back to 1.5++

some warrants would become toilet paper since unable to adjust accordingly for the RI.

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) shareholders today approved of a rights issue proposal that would raise up to RM2.86 billion.

“More than 89 per cent of shareholders voted in favour of the rights issue," said chief corporate officer Amarjit Singh Chhina.

“From here, we will proceed with price-fixing in mid-August and submit the prospectus to the Securities Commission for approval. We expect to complete this by end of September,” he told reporters after the company's extraordinary meeting held here today.

Also present were chief operating officer Kwan Joon Hoe and chief financial officer Ann Wan Tee.

MRCB is undertaking renounceable rights issue of up to 2.86 million new ordinary MRCB shares together with free detachable warrants.

Wait after next Monday and Tuesday as there could be bloodbath in Bursa due to 1mdb payment of USD600million. If that fella default, then you may get MRCB below 1.20.

Poor C12 and C13 warrants holders, from a high price in May 2017, now become toilet papers. All thanks to RI.

C21 is already a toilet paper lah...why still play with it? 2.55 exercise value and expiry on 30 August....It wont reach that unless China/Indonesia bought into FGV and offer RM3. That also need to resolve the CEO/CFO saga for now.

Ok guys...I m officially out of FGV. From now on, I would comment as observer and want to evaluate whether my opinions are correct on the 3 potential bad news coming into FGV. After a final calculation, I have burnt 40k in FGV for the last 9 months in both mother shares and warrants. If you have made some small loss, I hope my 40k would be able to comfort you that someone else make even bigger loss. For those made more loss than me, think of EPF and KWAP, they have made million and million of loss for now.

I believe duit and the gang easily made few hundreds thousand loss in FGV.

1.24 already...Those no money to subscribe RI are selling off their MRCB shares

KingLucy, buy more...ppl are selling at 1.27 now.

Beware of Monday and Tuesday bloodbath in Bursa if 1MDB failed to pay IPIC USD600 million by 31st July. If that fella default again, it going to cause Bursa to tumble.

Ahh one more negative news coming this Monday, 31st July.

"According to filings with the London Stock Exchange, IPIC said it will receive US$1.2 billion in two equal payments on July 31 and Dec 31.
The agreement is conditional on the Arbitration Tribunal in London making a “consent award” by May 31.
The filing indicates that the settlement involved only part of the total US$6.5 billion sought by IPIC, the remainder of which is believed to be subject to further negotiations."

If 1MDB failed to come out with US600million, coming Monday, our beloved Government would need to pay on behalf. Bursa gonna be in red if this happens. Opposition has filed a case to stop this payment cause 1mdb has defended that it has paid this debt last time. The question now is why pay again if 1mdb already paid it?

rich if use 2.6 billion to privatise FGV, meaning gov can only offer RM0.72 per share. Are you willing to sell at 0.72 to Government?

The boss is saying when it rise from 0.9 to 3.20 in 3 months time, nobody thank him. Why should he cares now if it drops from 3.20 to 1.30. You guys still profit 0.4 if u bought in at 0.9

@joetay, FGV was trading at 1.15++ back in mid 2015. 8 months ago when all the rumors broke out on Government forming Steering Committee and also the RM300 million impairment, FGV price dropped from RM2.30 to RM1.42++. Hence, for FGV to drop to such level is possible should my guess on the 3 negative news below realized:
1. High loss on Q2 results due to lower CPO price and impairment.
2. Senior ranking officials in FGV and FIC being charged for corruption and misuse of authority.
3. Zakaria and the CFO being sacked on 14 August 2017 after finding by DI.

The positive news:
1. Selling of AXA Affin Assurance with higher price than the estimated RM70 million
2. Announcement on strategic partner from China/Indonesia with an attractive offer price for FGV.

Looking at these possibilities, which one do you think would have high probability in the next 3 months?

Anyone attended the EGM?

zackboy, Mahathir still got macai? Feel like he s alone and no one really defend his comments or remarks.

You must be a newbie in FGV. Don't you know that for past 9 months (I cant say for longer cause I only monitor this FGV for 9 months), whatever happened in Felda or FIC or anything with the word "Felda" would affect FGV???? Any others who monitored longer than me want to comment on this? Is my comment valid or incorrect cause our poor pedestrian yet to know about this. We should be generous and enlighten pedestrian so he wont burn 30K like most of us. Duit, mana lu?

How I wish I was not a shareholder, at least I still have my 30K with me to buy other counters. Pedestrian, I really wish and hope what you said would be truth to me. Unfortunately it's not.

pedestrian, another MACC probe on FIC on hotel purchase in Kuching. I was a shareholder from Nov 2016 until July 2017 when FGV continuously scandals finally broke my back. I hope you dont get burnt RM30k like me but maybe just RM15K since you just joined the FGV bandwagon now.

EGM today. Get ready for the announcement of RI.

3 potential negative news on the way? Still dare to enter?

Once RI is completed and fix, we would have a clearer view on MRCB. For now, it should hover around this price until the RI is fixed. Business is good, new projects and lands acquisition. Not to mention EPF and tabung haji investment into MRCB. Everything is towards a better financial for MRCB.

The main reason for MRCB price to drop this much is due to the RI, nothing more and nothing less. Tomorrow is the EGM. Finally the wait is over after 2.5 month since the announcement in mid May. Hopefully RI can be completed by mid August and MRCB can move forward after that.

The BOD still consists of old members who were at the first place put Zakaria on leave of absence. Do you think they still can work with Zakaria after such a bad episode? Although Isa was the chairman, he still need all the BOD members to support him in order to suspend Zakaria. After Isa relinquished his chairmanship, Sulaiman did not reinstate Zakaria position even after he reverted to his show cause letter. That means the BOD still wanna get rid of him and do not want to make it so obvious. That's y they get the DI to do it. Like the Chinese saying, borrow other ppl knife to kill.

Come August 14 when they sacked Zakaria, another round of drop. Now MACC may charge some officials in FGV. That another round of drop. So in total to expect for August, 3 negative news may take place. 1 round drop 0.15 sen, 3 rounds 0.45 sen.

Forget about CPO. FGV doesn't follow CPO. This has been proven again and again. Just see the last quarter results. Most plantation counters are making huge profit but FGV only make 2 million ++. High CPO price only help to prevent losses but not making high profit. Q2 could make huge loss due to lower CPO price and also all the management tussle. There could be impairment as well for all the losses. If FGV going to report huge loss in end August, I think it can easily goes below RM1. Mark my word, by then it would follow MAS path. Ipo for 4.50 and government privatise back at 0.3-0.5. Easily sapu RM4 for the last 5 years.

C15 expiry is on 24 Nov 2017 and looking at that, it should be adjusted as per Kenanga announcement on 18 May 2017. Just wait for tomorrow EGM and see what's the details of the RI.

C9 expiry is 30 August 2017. RI may not be completed by then. Hence, for those holding C9, you have the risk of RI not completing and there would be no adjustment to your warrant. You are at a disadvantage situation due to that. Tomorrow after EGM, you may get more information about the RI. If the ex date for RI is after August, your C9 may worth zero by then.

I lost more than RM30k in FGV alone...Thanks to all the surprised and shocking financial scandals and management tussle. These, we can't analyze from the Financial Statement.

"Of course, FGV (Felda Global Ventures Holdings Bhd) was another case – we thought it would be difficult for the company to turn around under its current leadership,” he said."

Even EPF noticed that the main problem with FGV is its current leadership.

I bought FGV in November and it reported a RM110.5 million net profit for its Q4 2016 results. Financially wise I was correct, politically and scandalous wise, I was so wrong....

FGV, give me a column in The Edge and The Star newspaper and I promote FGV gao gao. Unfortunately i cant ask The Edge and The Star to give me a column to write. Instead, their columnist been hammering non stop while there are management tussle, BOD tussle, expensive acquisition, leakages, fraud at subsidiary, alleged corruption by its CEO, and last but not least, poor performance for its quarterly results. These add more fuels to their hammering and shooting of FGV.

You tell me, how to promote? Even EPF also lari last year and caused a huge drop in FGV price when this was reported. I have supported FGV with my hard earned money, looking at its fundamental of assets and potential revenue. Corruption, fraud, leakages and management tussles are not reported in their financial statements and you can't forecast that.

Warrants exercise price and ratio would be adjusted accordingly. Please refer to your warrant issuers announcement.

Who want to resign with such a good lucrative director fees and no penalization even if they screwed up FGV for the last 5 years. You will get promotion instead just like Isa. Muka mesti tebal macam kulit badak sumbu to give out such defensive comment. He was at the board for so many years while FGV continues its decline.

Above is just my simple calculation. The actual price would be determined during the price fixing date and would be announced by the board.

RI process is something like this;
1. There would be an ex date for the RI, meaning if you are still holding MRCB mother share by ex date, it would mean that you are subscribing to the RI.
2. Next the mother share would be adjusted lower to reflect the ex price and start trading as per usual.
2. You would be given a Rights Warrants to trade for 1 week in Bursa according to the ratio and your entitlement. The warrants price is usually the price difference between the theoretical ex price of the mother share and the RI price being offered. Let's say if the ex mother price is RM1.20 and the RI offered price is RM1, your right warrants would worth RM0.20 for you to trade within that week.
3. Once the trading week is close, whatever right warrants u still own would be converted to mother shares and you would need to settle the payment with your IB/Security, etc.
4. Next, the converted shares would be listed as MRCB share on the listed date approved by Bursa. Usually this is within weeks after the completion of the 1 week trading of the right warrants.

TipsL: if you do not wish to subscribe to the rights issue, either u sell of your MRCB shares now or sell off the Rights Warrant during that 1 week trading.

I trusted Najib for 9 months and the only thing I got is lost 30K in FGV since it never stopped coming out with new scandals every month. I wonder how many more scandals in the closet that yet to be revealed.