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Felda is to *receive RM6.2bil* in stages from the Government



https://www.thestar.com.my/business/business-news/2019/04/10/govt-to-provide-rm6bil-aid-to-felda/



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KUALA LUMPUR: Felda is to receive slightly more than RM6bil in stages from the Government as it restructures its operations and strengthens its governance in order to improve the fortunes of the agency and its settlers.

It is understood that in the White Paper, Felda will get that sum of money from the Government in the form of grants, loans and guarantees in order to resolve the immediate needs of the agency and establish a viable direction for the company and settlers.

A sum of around RM2.4bil will be in loans to restructure Felda’s loans and RM2.1bil will be a grant to clear the settler’s interest for loans over the next 15 years.

More than RM200mil will be used to complete housing needs for second generation Felda settlers and close to RM500mil will be paid to help with living costs and future income.

Felda will also be branching out to cash crops to improve its earnings and that of settlers and to make the transition to the planting of cash crops, around RM1bil would be given to settlers to make their changeover to new cash crops.

The financial performance of Felda has been on a downward slide ever since its floated FGV Holdings Bhd in June 2012 on Bursa Malaysia. Losses mounted and its debt grew to a level where intervention by the Government became essential.

Felda had been dragged down too by questionable investments especially in properties of hotels by its investment arm Felda Investment Corp Sdn Bhd (FIC) with criticism being raised over the discrepancies in valuations.

It was reported that FIC's purchase of a four-star hotel in Kensington, London, in December 2014 for RM330mil was allegedly three times the actual price of the property.

FIC had also purchased Merdeka Palace Hotel and Suites in Kuching for RM160mil, which allegedly was some RM50mil above market value.

Former Felda chairman Tan Sri Mohd Isa Abdul Samad has claimed trial to criminal breach of trust (CBT) and nine counts of bribery involving more than RM3mil over the purchase of the hotel in Kuching.

Another controversial deal completed in April last year was Felda’s purchase of a 37% stake in loss-making Indonesian planter PT Eagle High Plantations Tbk for US$505.4mil from the Rajawali Group
Read more at https://www.thestar.com.my/business/business-news/2019/04/10/govt-to-provide-rm6bil-aid-to-felda/#6eCm504LhC5r1lpc.99

*AllianceDBS has upgraded FGV to a “buy” with a DCF-based target price of RM1.75*

Read more at https://www.thestar.com.my/business/business-news/2019/04/10/quick-take-fgv-upgraded-at-alliancedbs-shares-up-nearly-5pc/#tQq9aiA9VrUyKU3e.99

fgv C63 , apa tu?

131 break up

next move 138 -140

Let us see can breakup 1.31 or not

TOMORROW, Putrajaya is expected to unveil plans to rescue Felda – the historic land scheme that once lifted thousands from poverty but which now struggles to provide its participants with a decent income.

The plans are expected to be tabled in Parliament in the form of a white paper detailing what went wrong with the 63-year-old agency and its business units.

KERAJAAN PH HEBAT .. .

https://www.youtube.com/watch?v=vJgxkzwEKZk

The discussion was not just to review the financial crunch faced by Felda, but also steps to be taken to ensure the future of the settlers

https://www.thesundaily.my/local/new-business-model-among-proposals-in-felda-white-paper-azmin-DX770335

https://www.nst.com.my/news/nation/2019/04/477553/felda-white-paper-examine-settlers-future-among-other-dire-matters

It will also propose a new business model for the management of Felda farms and guaranteed welfare aid for settlers

Penipu minta PH gov to percaya dia tak mencuri wang. Felda ^_^


https://www.thestar.com.my/news/nation/2019/04/09/admit-felda-losses-due-to-palm-oil-cost-najib-tells-pakatan-govt/

Mari la kita sama sama jangan lupa ...

Buyer is good friend of Najib

Sondakh is known as Najib's friend. Najib's Facebook post came following a police report lodged by Felda director general Datuk Dr Othman Omar against the former premier

Buyer got wang ke?


Najib highlighted that the purchase agreement came with a put option for Felda to sell back EHP shares to Sondakh at the purchase price of US$505.4 million plus 6% annual interest return

Finance Minister Lim Guan Eng told reporters on Tuesday the government had to support Felda as the previous government had caused "huge losses". He did not elaborate.

Felda said it would sell assets including property in London, restructure some loans, and try to boost cash flow to trim nearly US$2 billion in debt.

JANGAN LA KITA BLAME PH GOV

PENCURI YANG SEHARUSNYA DIPOTONG TANAN - NAJIB

KWAP REALLY BUAT KECOH

vegebotak : sure can go through cos Azmin Ali is Tun M man .

vegebotak : PH government must helps FGV & Felda

vegebotak : this is what we call MALAYSIA BOLEH

RM 6, 000 , 000 ,000 kaya tu . .

FELDA IS SAID TO SEEK 6B RGT RESCUE FROM MALAYSIAN GOVERNMENT

GOVERNMENT SURE HELP FELDA AND FGV

GOVERNMENT SURE HELP FELDA AND FGV

KWAP kecoh . . always sell down FGV

Tomorrow is the day .. .

Hidup FGV

Hidup Felda

Hidup PH . .

3.5 mil volume traded in first 10 min

FGV volume going to be superb today

Govt bail out 3 Bilion on this wed

Bailout 3b for 3,6b unit shares = Free money at 83sen each

Apart from unveiling Felda's financial standing, the much-anticipated White Paper, will, among others, focus on strategic rehabilitation plans with 31 initiatives as part of a transformation scheme, along with a turnaround plan that includes the sale of its properties

Felda chairman Tan Sri Megat Zaharuddin who was appointed in July last year, had earlier revealed severe cashflow problems at the state agency, forcing Felda to

(I) restructure its RM8 billion debt and
(ii) dispose of its non-strategic assets worth RM2.2 billion.

He said the revamp strategy will include the restructuring of bank loans and disposal of some of the agency’s non-strategic assets — namely properties in London, Sabah and Sarawak.

These strategies are said to enable Felda to stabilise its cashflow in the next two years.

FELDA and its 33.67% unit FGV Holdings Bhd (formerly known as Felda Global Ventures Holdings Bhd) that the government had to step in

As at end-September 2018, FGV had deposits, cash and bank balances of RM1.48 billion, and total borrowings of RM4.2 billion.

2017 Auditor-General’s Report said FELDA and the group had institutional borrowings of RM7.8 billion and RM12.14 billion respectively.

A takeover offer is not palatable at current prices given that FGV was listed at RM4.55 a share four years ago. Shareholders and especially Felda’s settlers would expect fair compensation given the underperformance of FGV’s shares since listing,” said an analyst

FGV kena bayar FELDA RM250 juta setiap tahun serta 15% dari keuntungan tahunan FGV untuk menyewa tanah ini. Oleh itu, FELDA bukan diswastakan

SEREMBAN (April 8): The tabling of a White Paper on the Federal Land Development Authority (Felda) in Parliament on Wednesday will, among others, propose a new business model for the management of Felda farms and guaranteed welfare aid for the settlers.

Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said a draft of the White Paper had been tabled at the Cabinet meeting last Friday.

“The discussion was not just to review the financial crunch faced by Felda, but also steps to be taken to ensure the future of the settlers,” he told reporters after attending the Pakatan Harapan talks here today in conjunction with the April 13 Rantau State by-election.

Azmin, who is also PKR deputy president, said the White Paper was important to reveal the actual financial situation in Felda, based on forensic audit conducted by an independent professional auditing firm.

He said the settlers needed to know that the previous management of Felda was insincere, irresponsible and veered far away from the original objective of its formation.

Meanwhile, in another development, Azmin questioned the move by Umno Youth in demanding the Government to set up a Royal Commission of Inquiry (RCI) to investigate allegations and wrongdoings in the management of Tabung Haji when the problem actually cropped up during Barisan Nasional’s reign.

“Misappropriation of funds in Tabung Haji was admonished by Bank Negara before this...Why didn’t UMNO Youth make noise and demand the setting up of the RCI then?” he said.

"FGV has exceeded internal targets and is on track to achieve its 2019 key performance indicators," FGV’s group chief executive officer Dato’ Haris Fadzilah Hassan said, in a statement today.

https://www.nst.com.my/business/2019/04/477429/fgv-track-achieve-2019-kpis

Felda director-general Datuk Dr Othman Omar has previously stated that the amount of debts mutually agreed to between Felda and the settlers stood at RM5.5 billion to date, while another RM2 billion has yet to be finalised. (The debts were incurred as a result of loans taken by settlers from Felda, mostly for replanting, housing and other purposes.)


https://www.theedgemarkets.com/article/resolving-woes-felda-settlers

https://www.theedgemarkets.com/article/resolving-woes-felda-settlers



Debt -RM14.4 billion by 2017



Felda and the settlers stood at RM5.5 billion to date, while another RM2 billion has yet to be finalised



The Minister has taken note of the issues and given the assurance that solutions would be sought to restore Felda's former glory

Wednesday. .Wednesday. .Wednesday. .Wednesday. .Wednesday. .Wednesday. .

Gov will not let FGV and Felda mati . ..

Fyi, EPF has loan to Felda RM 6.5b

If Felda collapse, EPF members gg . PH lost voters

1.23 good closing FGV

Tomorrow moving toward 1.30 before white paper table at cabinet

Gov sure help Felda and FGV

Buy fgv before late

FGV kena bayar FELDA RM250 juta setiap tahun serta 15% dari keuntungan tahunan FGV untuk menyewa tanah ini. Oleh itu, FELDA bukan diswastakan

PH GOV SURE HELP . .NAK TAK NAK, MESTI TOLONG NI . ..



FGV, a government-linked company

What would be the price if Gov wanna takeover Fgv?



A takeover offer is not palatable at current prices given that FGV was listed at RM4.55 a share four years ago. Shareholders and especially Felda’s settlers would expect fair compensation given the underperformance of FGV’s shares since listing,” said an analyst

FELDA and its 33.67% unit FGV Holdings Bhd (formerly known as Felda Global Ventures Holdings Bhd) that the government had to step in

As at end-September 2018, FGV had deposits, cash and bank balances of RM1.48 billion, and total borrowings of RM4.2 billion.




2017 Auditor-General’s Report said FELDA and the group had institutional borrowings of RM7.8 billion and RM12.14 billion respectively.

Good to read

https://www.theedgemarkets.com/article/turkey-year-mismanagement-felda-and-fgv

KEY FOCUS AREA


• Implementation of tasking system for harvester and increase productivity from 1.4 to 1.5MT/manday.

• Complete harvesting round at 2.5 rounds per month.

• Expedite new workers recruitment to achieve 100% requirement.

• Continue replanting of 15,000 Ha in 2019.

• Mechanise 18,500 Ha in 2019 to improve man to land ratio (harvesters) from 1:20 to 1:25.

• New policy setting of ripeness standard to reduce crop rejection from 0.6% to 0.3%.

• Increase uptake of CSPO by 40% (335k MT in 2018 to 426k MT in 2019).

• Optimise manuring programme by changing fertiliser type and application process.

• Rationalise several mills until 2021 to improve utilization factor.

• Reduce CPO Production Cost (ex-mill) below RM1,500.

• Tighten procurement process involving capital and operating expenditures.

• Divestment of non-core and non-performing assets with expected proceeds of RM350 million.

• Disposal of Chuping plantation land under Sugar Sector.

• Expansion of storage capability with additional capacity of 50,000 MT in 2019.

• Manpower rationalisation by 10%.



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Menara Felda- looking to sell at RM 1500 psf?

https://www.propwall.my/insight/3021/menara_felda

DescriptionRantau is a small town in Seremban District, Negeri Sembilan . Anything related to FGV?

Felda chairman Tan Sri Megat Zaharuddin who was appointed in July last year, had earlier revealed severe cashflow problems at the state agency, forcing Felda to

(I) restructure its RM8 billion debt and
(ii) dispose of its non-strategic assets worth RM2.2 billion.

He said the revamp strategy will include the restructuring of bank loans and disposal of some of the agency’s non-strategic assets — namely properties in London, Sabah and Sarawak.

These strategies are said to enable Felda to stabilise its cashflow in the next two years.

The White Paper on troubled plantation giant, Federal Land Development Authority (Felda) will be tabled in Dewan Rakyat on April 10.


Apart from unveiling Felda's financial standing, the much-anticipated White Paper, will, among others, focus on strategic rehabilitation plans with 31 initiatives as part of a transformation scheme, along with a turnaround plan that includes the sale of its properties


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KWAP make a wrong investment decision to sell lately ?

Bailout 3b for 3,6b unit shares = Free money at 83sen each

https://www.malaymail.com/news/malaysia/2019/03/29/report-putrajaya-eyeing-rm3b-rescue-package-for-felda/1737665


Rm 3,000, 000,000