Dato’ Nazrul Mansor, Group Chief Executive Officer of FGV said, “I am proud to announce a solid closure for 2022, the highest recorded since we were listed in 2012. This demonstrates our continuous commitments to sustainable financial growth and success. With our transformation initiatives in place, FGV will continue to push the boundaries and achieve new milestones as we are committed to delivering exceptional value and driving growth for all our stakeholders.” The Group also announces a final dividend payment of 11 sen per share, translating to a dividend payout of RM401.30 million. The Group declared a total dividend payment of 15 sen per share for FY2022. https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=222369&name=EA_FR_ATTACHMENTS
Bursa as a regulator has a fiduciary duty to ensure fairness and equitable to all stakeholder despite given ample time to Felda to regularize its restructuring plan amid the extension expired in August 2022 Obviously Felda have no efforts at all in its latest announcement with a mere suggestion not even a detail restructuring plan that should have done right after the last extension expired
Latest announcement, fgv says: " the Board had agreed to evaluate and explore a corporate exercise entailing the issuance of new Islamic preference shares in FGV (“Corporate Proposal”) as part of the rectification plan for FGV to comply with the Public Spread Requirement
My understanding: so there are other exercises in addition to issuance of preference shares ??
Just a decoy to buy time. Eventually will be another GO. Just at what price only. They already said many times....die die they want to delist and privatized it. Too lucrative, valuable and political to share with others.
Bursa need to give ultimatum answer answerable to all stakeholders as an independent institute responsible for maintaining market integrity and regulation
Felda holds more than 80% thus any price movement is very much controlled Bursa cannot turn to blind eye or deaf ear but needs a decisive solution as to where the direction heading as it had dragged for far too long
Felda refuse to make another offer (but rather to delay the privatization) is it because it will set a ceiling price which Felda thinks deem unreasonable if Felda unable to secure the threshold requirement Does it mean that any price movement(controlled or dictate) is unofficially offer to remaining shareholders rather then make it official
Never mind la. Let them take their own sweet time including the blur, cacat and gaji buta regulators. Collect a few more rounds of high div first since pokkai Felda also need the money. Beat them at their own game. Senang je.
Will this be a div trap? Meaning one can buy cheaper after ex div than the theoretical ex div price. I won't be surprised as they are known to manipulate, suppress and depress price for a lower GO. Pokkai Felda unable to give a high price to privatize FGV.
FGV hold relatively well at 1.6 despite CPO price plunge because of 11 sen dividend? PM-X China visit can reverse CPO price plunge? 2 more days we can know.
11 sen dividend ex-date 29th Mar(tomorrow)is 6.96% at 1.58 far better yield than EPF dividend or FD rate. If add to 4 sen announced earlier FGV DY become 9.49%.
1.49 yesterday is 1.6 before div ex-date so those holding for dividend paid off? I admit I am not a good trader to precisely know lowest or highest for each stock.
If you bought at 1.60 for the div and now is 1.49, indifferent. Anything below 1.49, you bang balls. That is called a div trap. Noticed most are like this nowadays. Don't hadap for the div.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
calvintaneng
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https://www.tradingview.com/symbols/MYX-FCPO1%21/
Excellent rebound up
Now FCPO Rm4190
Cost as low as Rm1800 per ton due to Fertilizer price crashed by almost 80% & return of fruit hartesters
Gross profit over 100%
Palm oil is the most profitable industries now