Calm before the storm but this storm could be the storm that brings in lot of rain n water for the land. It s s good storm.

Can claim insurance and get back RM 57 million. Here come the rebound.

Now that FGV has signed the Termination Agreement with Rajawali Group on Dec 23, 2016, the matter has been effectively concluded. The investment is now undertaken by FIC Properties Sdn Bhd, an entity under Felda,” he said.

As for the Felda Iffco Gida Sanayi, Turkey, he said, the financial losses were currently under forensic audit and FGV was awaiting the official report before taking any further action.

“We are also finalising the necessary paperwork to claim insurance coverage on such fraud that will substantially compensate the losses recorded earlier,” he said.

U just need Najib to give a speech and give a strong support to FGV. Next, all the statutory funds are instructed to up/purchase stakes in FGV. For sure will go up.

Reply from FGV IR

Thanks for your email below we appreciate your comments.

We understand and take note that recently there have been quite a few negative news on us. For your information, we have planned out our January and 1Q 2017 engagement activities with both media and financial community to explain and provide them with accurate information to counter some of the recent negative news.

Once again thanks for your comments and rest assured that we will continue to engage and to have effective two-way communications with media and the financial community with the objective of achieving investor support and a climate of favourable opinion.

Regards
Daniel VC Lee
Head of Investor Relations

Max 2838 totally agree. however I think the agenda is more to attack FGV for political purpose instead of manipulating the shares price for profit. This is because FGV price didn't go back above RM2 since the continuous attack from The Edge

You can listen to KYY advice on smart investor but never heed his call to buy or sell any counters. That you make your own decision. There is no free lunch in this world and I dont think KYY is giving free lunch too in i3investor.

I kena twice so now I m smarter with his calls.

It is very obvious that the edge is biased and keep reporting on negative news on FGV instead of positive ones. For example, instead of reporting that Felda subsidiary is the one buying EHP and not FGV (chapter close so everyone in FGV is happy), they report no synergy pula. Instead of reporting FGV is getting back deposit USD170 million ++ and reap the profit of MYR160 million ++ due to forex gain, they keep hammering on expensive purchase. Instead of reporting FGV steering committee setup is no longer valid and not verified, they chose to be silent. Last but not least, the impairment of 200 million - 300 million which is incorrectly reported, the edge didnt even bother to clarify it.

Not to mention the latest news on EPF exit when EPF has ceased to be substantial stakeholder back in June 2016. EPF has exited many companies before but why pin point on FGV specifically? Pls publish about SHELL then since EPF is exiting it and made huge loss on it.

The edge keeps hammering non stop on the negativeness which some were purely fabricated by them, quoting unnamed sources. If u ask me, they must be mad at the government which ban the edge paper last time and now instead of hammering 1mdb, they choose to hammer FGV since they know this is the core support group of BN.

The reason I posted it was that the edge is quick to report that epf exited FGV and opposition questioned how much epf has lost in FGV investment. If they don't report it or question the same for shell, meaning FGV is targeted for their own agenda

I wonder if The Edge going to publish news on this??? http://www.thestar.com.my/business/business-news/2016/12/29/epf-reduces-stake-in-shell-refining/
Would Rafizi comment on this as well since EPF gonna make loss with such disposal? The share price came down from RM6++ to RM2 now

This counter isn't for fundamental or TA play but purely BN vs PKR/The Edge paper

If you believe that BN going to take good care of Felda settlers and a GE in 2017, then can keep this for short term.

MAS only 20000 employees and only a fraction being laid off while others joined MAB. Felda gives BN 50++ seats. If BN lose Felda, they can say bye bye to Putrajaya.

The purchase is subject to approval from both countries authority. At anytime BN can just stop or delay the purchase to create good feel factor for GE14 like a white knight. Once election is over, then buy it again. Now they are testing water and see how the market and public react to it.

Rafizi is asking a question similar to how are u going to pay a Rm500K house if you only have RM50k in your bank acct? Or how you going to pay rm150k car if you only have rm15k in your bank acct? I think everyone of us know the answer. Of course borrow lah from banks or financial institution.

I wonder how FGV gonna to book the profit from the return of USD174.5 million from Rajawali group. Exchange rate back then was around 3.75. Now is 4.48. Not to mention that Rajawali has to return all accrued interest as well.
Extract from HOA for Eagle Plantation purchase:

2.2 Deposit
The Parties agree that the deposit made pursuant the Deposit Payment Agreement*
("Deposit") shall form part of the Total Consideration, if the CSPAs are executed and become unconditional.
* The Deposit Payment Agreement was entered into by FGV Kalimantan on 12 June 2015 with Rajawali Capital and Rajawali Corpora, wherein FGV Kalimantan shall make a payment in the amount equivalent to US$174.5 million (equivalent to RM653.6 million) as a deposit that shall be considered as the down payment for the Proposed Acquisitions. The said Deposit shall be paid by FGV Kalimantan by instructing its bank to make the payment of the Deposit, upon all required Bank Negara Malaysia approvals being obtained.

2.7 Termination of HOA
The HOA shall automatically terminate upon entry into the CSPAs or in the event that the Board of Directors of FGV Kalimantan does not approve the transactions contemplated in the HOA and the Deposit is fully refunded to FGV Kalimantan with all accrued interest in accordance with the terms of the Deposit Payment Agreement entered into by the Parties. Thereafter, no Party shall have any claim against other Party in respect of the HOA.

For BN to boost election feel good factor is easy. FGV can rebound prior to GE 14 but gonna be short lived. How to boost FGV price, BN can award contracts, buy their lands/assets, inject more cash via kwap, khazanah, epf, tabung haji, pnb, etc or even get some cronnies to inject and reward them back with contracts. By just creating some good feel factors, others will join the herd and BN can then sit back and enjoy the harvest. To u and me we can't do much cause we don't have 500 million to 1 billion to play. For BN, such amount of money it s nothing

Jtiasa also got big buaya. Very hard to profit in Jtiasa

Well the purchase is done by FIC and not FGV. And who fund FIC? Your tax money. So whether FGV bought it or FIC bought it, Malaysian still have to bear it. That s the bad news. As far as FGV account and financial are concern, there s no issue here.

FGV terminated the agreement to purchase PT Eagle and Felda other subsidiary purchased it for lower price. Now we just need to worry if they gonna ask FGV to buy it from this subsidiary with higher price for it to profit just by being the middle man. That s what worry me most. From right pocket to left pocket.

Loss making doesn't mean cannot fulfill debts obligation. Look at MAS last time, lost for so many years yet not under pn17. For those still listed, look at Parkson, lost for more than a year now still not listed as pn17

today even solid counter like Westports and Top Glove also dropped a lot. Ppl cashing out for Christmas and New Year holiday. :)

next quarterly results only out in Feb 2017 lah....

Ring, EPF loaned that money in 2010 before FGV is even listed. During then, EPF doesnt even have a single idea that FGV is going to make loss in 2016.

dodos, actually EPF not smart cause after they ceased to be substantial shareholder in June, FGV price increased to RM2.50 in Sept from around RM1.40. If EPF waited for another 3 months, it could have recoup more losses.

So far The Edge has reported the following:

1. Steering Committee of Government taking over from BOD. (Denied by FGV and no news about this but the damage has been done)

2. 200 million - 300 million impairment due to Fraud in Turkey subsidiary (Has clarified that the impairment is for assets rationalization and not due to the fraud but damage has been done as well. It was well reported that the fraud was around 57 million which all other analyst reported the same except for The Edge)

3.EPF exited FGV which EPF has been doing and cease to be substantial shareholder on 15 June 2016. Refer to this announcement: http://www.bursamalaysia.com/market/listed-companies/company-announcements/4776397
Why suddenly make it a big hoo haa yesterday, sounding like EPF just exited everything yesterday?

Hence, is The Edge reports the truth or "created" news to boost their sales? I dont think so.

Neutral statement and meaningless. Even if he doesnt say anything, it doesnt matter. Ppl now believes the Edge rather than FGV management. I wonder why FGV didnt take action against The Edge for the past two fake news. Are they in collaboration for some hidden agenda?

Just because the edge published an old news and everyone panic n sell like herd. The edge bosses gonna profit a lot by buying up your stakes in FGV. They have profited one round when they pushed the price from 2.3 to 1.42 by publishing two fake news and no thanks to FGV Q3 loss too. Now they are looking for year end bonus n cny angpow. Can they push it further to 1.40?

FGV is too big to be taken over, maybe become significant shareholder lah. Btw, back in July/August, FGV CEO mentioned that FGV going to sell those non core assets if they aren't making 10% ROI after 3 years. Back then he said FGV is going to finalise this by year end. Yet to hear anything now on which assets to sell off

Rural ppl only would realize when there s no more Brim and they can't afford to even purchase petrol or cooking oil for their daily lives... Next they start to ponder what have happenned. For Malaysia to reach that level still a long way to go as we still have many assets to sell. Still can sell land, water, palm oil, timber, oil and gas, putrajaya building, airports, airplanes, Petronas, Felda, felcra, mara, proton, perodua, ktm, pos, UMNO hq, MCA hq, mic hq, etc.

Bankrupt meaning 50% of the population can't find job and 50% of civil servants would lose their jobs. Only those security personnel and medical would remain in service. Imagine that there s no more school for your children, no more brim, no more local council ppl cleaning your street and drains. That s when u know that the Gov is bankrupt.

Palm price would not affect FGV counter price as this counter isnt dependent on fundamental.

today cabinet meeting. Will MSM request to increase sugar ceiling price would be approved?

No reason.

be patience and wait for good news from MSM. Remember that the fake news from The Edge and the comment by the Deputy Minister on the purchase of Eagle Plantation purchase has caused a 50 sen drop. Without factoring the drop due to 90 million ++ loss in Q3 2016, FGV should give us back 50 sen from 1.42. That would be 1.92. And 90 million ++ loss did not justify a drop of 47 sen drop. So, is FGV gonna rebound back 70 sen from 1.42 due to all these fake news and panic selling? It remains to be seen.

I m not asking u to buy or sell. Trade at your own risk.

Hahaha. Cause can't give a better and meaningful inputs. Let s back to Supermax. Seem no movement even after HLIB gave a positive report. Top Glove profits drop a lot. Guess may need to keep Supermax for at least another 6 months for its contact lenses business to bear profit

You can't keep going up without a break. Else speculator woukd take profit and cause the big selldown. It needs to take a few days break b4 continue with its uptrend. Besides the market is still waiting for the government decision on the sugar price increase for retails which in my opinion is possible as world raw sugar price has increased by 40%. So if the Gov approves a 20% increase is a valid move.

Besides when ppl have some psychological problem, tendency to stir argument is very high. Peace is the least they wanted. Cause argument would make them feel importance and noticed by others. My advise now is just continue with our own comments and not forgetting to label their comments as rubbish and craps if they happen to copy n paste again. If BWC/investo gave a valid comment, I don't think we should give a negative remark on that particular comment.

Their jobs is to label everyone as fraudster and dominate the whole forum with their copy n paste n craps. That s their pattern. Whether Supermax up or down, both also claimed that their win win plan is working. If they are really so great in their win win plan, I don't think they would have the time to come and comment here but enjoy their high lifestyle.

merck, disagree on the part you commented on their personal life i.e. failure in their lives. Just focus on their comments that were crap and rubbish. We dont need to step at their level after all since they have been labeling most ppl here as fraudsters by disagreeing with them. Let's be professional in our comments and remarks. Least they would get hold of you and claimed you are rude and fraudster.

Like that also considered attack? I just highlighting that merck is still around. Btw I have been commenting all this while. Well, if u refuse to see that, there s nothing I can do. As long as you cont with your fraudster crap, merck and I also can con't to label Investo and BWC as commenting craps and rubbish.

Opps...Investo is wrong!!! Merck is still around....


Investo 早安 Thursday...................... :-)
I agree job done here aready. Made good profit a few round on Supermx by follow big picture N got sell all aready when BWC downgrade Supermx 2 prefer other stocks - my trade record all clear in my coment history got price buy or sell, easy 2 see. Laugh

Fradster gang not here much aready. When i 1st join they threaten me but i just coment like normal N readers get 2 see they what type of bad ppl. Take a few months but readers can see now fradster gang not here anymore, even merck hide becoz cannot scam N readers more careful aready. In other forums merkc N gang follow N attack me also but i also dun bother, do same thing N they soon also will disappear, like they disappear now in Supermx forum. Laugh

Got ppl said dun buy when price pushed down from 1.89 to 1.42. Fortunately I stick to my view and opinion and average down my purchase price even until below 1.48. Within 2 weeks, it bounced back to 1.71 now. You know who s the one who keep saying it would continue to go down and won't rebound back. For those who refused to average down or cut loss, their purchase price most probably above rm2 and keep hoping it would bounce back above that to recover their capital. For those who bought lower, they are hoping to profit now when the price move up and that includes me.

jangan harap Pakatan can win. Pakatan itself is in limbo and after 10 years, Pakatan still can't agree on a same manifesto. Just see for yourself on their internal conflicts all these years. PKR has its own thought to work with PAS. PAS and DAP cant work together. Amanah cant work with PAS. PAS wants to work with UMNO. Bersatu wanna join in the game and wanna be the big shot in Pakatan. PKR cant really trust Bersatu but DAP and Amanah are embracing Bersatu.

How to win then?

hopefully after fed rate meeting today which the market already priced in a rate increase, the counter would continue with its uptrend. Today wont have any activities due to fed rate meeting.

Fed Rate meeting. Wont move until it finishes. Anyway, the market has priced in a rate increase. So no surprise or shock to the world market unless Fed Rate came out with something that is so different from what they have been telling all this while.

Government may offer all types of contract to FGV in order to save its ass. Who knows?

3 areas to work on:

1. Administrative cost
FGV CEO is working on this and it has bear some positive results in Q3 2016. 93 million lower yoy.

2. LLA fair value change
I have no idea on how they calculate this but if you notice anything above 100 million fair value change loss, FGV is bound to report a loss for that particular quarter. Dont believe me, check back those quarters that FGV reported profit and you would find that the LLA fair value change were much lower.

3. Loss from JV
In fact this isnt new in FGV. The JV has been making loss back in 2011, 2012 and 2013 before turnover to make profit in 2014 and 2015. And as of Q3 2016, the JV has made a loss of 45.2 million for a 9 months period. Whether it would make a bigger loss for 2016, remain to be seen.

Hence if the CEO continues to improve the administrative cost and scrap all those losing JV and manage its LLA better (I have no idea on how he gonna do this. Any accountant or finance guys can give more insights on this?), FGV can tail spin around its business. Well, this is purely based on their financial statement.
Of course FGV needs to work on its efficiency just like what Ring commented.

I already commented that Supermax is back to hibernation mood. Perhaps there could be movement after Fed meeting on 13-14 Dec. For now, just keep it aside.

Dec 2, 2016 01:57 PM | Report Abuse

Supermax is in hibernation mood now. Could be weeks or months until Trump comes to office in Jan 20.

Ring, i believe the forumer would like to know more about whether to buy or sell rather than the operation side of it. But thanks for your sharing that I know more on the operation side. I recalled last time there are a person who share on the La Nina effect on Palm Tree as well as the age profile of the tree and its yield which actually enhanced my knowledge more.

Appreciate your sharing on the plantation workers and supervision as that is new to me since I m not from plantation industry.