Posted by dam82 > 2018-11-29 17:03 | Report Abuse

huge block at 0.900

Posted by Najib_bodoh > 2018-11-29 17:04 | Report Abuse

If delist or privatise if KWAP, TH, etc disagree can still go ahead?

Posted by dam82 > 2018-11-29 17:08 | Report Abuse

look at FGV Twitter those uselsss management re-twitting

Robert Hii
‏

@HiiRobert
17h17 hours ago
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@FGVHoldings looking like a solid buy. House cleaning to rid questionable investments under the previous corrupt management is making this large palm oil company a sweet buy

Posted by nttcom > 2018-11-29 18:17 | Report Abuse

No de list. :)

Posted by Daily8 > 2018-11-29 18:21 | Report Abuse

delisting FGV is farrrr farrrrr away from now.

Posted by Victor Yong > 2018-11-29 18:24 | Report Abuse

dont touch,,,, many old trees need replanting... capex and long waiting period before harvesting...

also, not sure about the shit inside... those fraudulent cases, anymore, sure?

wait for it to show profit first, now, dont know the bottom price and a lot of uncertainty.... takda ceo also now :)

Posted by 5354_ > 2018-11-29 22:00 | Report Abuse

Privatisation of FGV?

While the notion of taking FGV private has been bandied about, the setback has been its high price tag. At its close of RM1.22 last Thursday, FGV had a market capitalisation of RM4.45 billion. With FELDA’s 33.67% stake fetching a market value of almost RM1.5 billion, the remaining shares would be worth RM2.95 billion. Assuming a 20% premium, the price works out to RM3.54 billion.

Note that government agencies such as pilgrim’s fund Lembaga Tabung Haji, Kumpulan Wang Persaraan (Diperbadankan), armed forces fund Lembaga Tabung Angkatan Tentera and several state governments are all shareholders of FGV.

FELDA, Koperasi Permodalan FELDA (KPF), which is held by FELDA settlers, and the various government entities control about 66% of FGV. This means that FELDA — if it strikes a deal with the government agencies and the cooperative — could take over the rest of the shares that have a market value of only RM1.51 billion. Assuming a 20% premium is forked out, this would entail a payment of RM1.81 billion.

However, there could be problems as FGV’s initial public offering was at RM4.55 apiece, which is almost four times higher than its current trading price. So, it would take some RM5.64 billion to privatise the 34% stake not owned by FELDA, KPF and the government entities at RM4.55 each.

It would also be difficult to explain as when FGV was listed in 2012, it was stated in its prospectus that 36% of its oil palm trees were between the ages of 21 and 25 and 16.9% were more than 25 years old.

So, 52.9% of FGV’s plantations were regarded as old six years ago. Now, how did FELDA not expect the group’s current predicament when there has been aggressive replanting that impacted earnings adversely?

When a senior editor with a newspaper saw FGV’s prospectus in 2012, he said, “This is the first time I have seen such an old age profile for trees — more than 50% of the trees are above 20 years old. It’s like FELDA is disposing of its ageing plantations.”

Indeed, FGV has performed poorly, largely due to its plantation profile and weak CPO prices. In its six months ended June 30, it suffered a net loss of RM21.9 million on revenue of RM7.04 billion. It had deposits, cash and bank balances of RM1.64 billion, and short and long-term debt commitments of RM3.1 billion and RM1.13 billion respectively.

FGV also owed RM109.28 million to a significant shareholder. In the six months ended June 30, it forked out RM95.13 million in finance costs.


Listing was a mistake

Coming back to the White Paper, sources say it will likely state that the flotation of FGV was a mistake. They add that in 2009, FELDA’s net debt stood at RM1.5 billion, which translated into a gearing of 14%. However, as at June 30, borrowings stood at RM8.025 billion or a gearing of 46%.

FGV’s listing raked in RM5.99 billion cash for FELDA and RM4.89 billion for the company. While there are details of how the funds were spent, the explanations are “sketchy at best”, the sources point out.

According to the sources, the White Paper says research on the issues indicates weak management, bad corporate governance and misappropriation.

In FGV’s flotation exercise, all ancillary activities of FELDA and its plantations were injected into the company on a 99-year lease. This ensured that the agency would receive a fixed payment every year and 15% of the plantations’ operational profits. FELDA was also slated to receive 33.67% equity interest in FGV and enjoy the dividends and benefits of any share price increase.

But this has not happened, and FGV’s indicated gross dividend yield at its last price of RM1.22 on Thursday was 4.1% with payouts of between 1 sen and 10 sen per share since 2012.

Prior to FGV’s listing, it was paying FELDA yearly dividends of between RM100 million and RM150 million. Based on total dividends paid in FY2016 and FY2017, and FELDA’s 33.67% stake in FGV, it received RM12.3 million and RM61.4 million respectively.

It is also noteworthy that FGV has a 51% stake in sugar refiner MSM Malaysia Holdings Bhd, which ended trading at RM2.81 last Thursday, which translates into a market capitalisation of RM1.97 billion. Note that MSM’s stock is trading at its lowest level since mid-2011, hitting a low of RM2.80 in intra-day trade last Thursday.

Nevertheless, much of the issues at FGV only came to light when, as a publicly traded company, it was forced to reveal much of what transpired at the company, including its payments for assets, among others.
http://www.theedgemarkets.com/article/cover-story-saving-felda

Posted by Weeyaa > 2018-11-29 22:07 | Report Abuse

fgv is najib project.... since new gov take over... this stock surely die..

Posted by 5354_ > 2018-11-29 22:16 | Report Abuse

Actually Felda(or FGV) 1 of reason caused BN to lose GE14. If PH does nothing will they suffer same fate like BN in GE15?

Posted by 5354_ > 2018-11-29 22:20 | Report Abuse

Weeyaa how come you also said PH will be shaking in next PRU?

Stock: [FGV]: FELDA GLOBAL VENTURES HOLDINGS BHD
Nov 28, 2018 05:24 PM | Report Abuse
previous... when anything wrong... BN false... now... PH false.... PH will shakeing on next pru
https://klse.i3investor.com/servlets/cube/post/weeyaa.jsp

Posted by Daily8 > 2018-11-29 22:30 | Report Abuse

APL is impaired and question need to know why APL took into decision to impaired it. FGV isn't stupid to impaired the big amount to scar FGV share price.
Azhar have done a very massive construction onto FGV account. For good or for worse?

Posted by takashi86 > 2018-11-29 23:04 | Report Abuse

Now every1 keep blaming PH not manage well...

PH can just keep those GLCs drop and sideline till year 2022, and clear out those BN ppl within, and push those GLCs gao gao when near next election...

Then, every1 so happy that time, who gonna remember what happened during year 2018, 2019, 2020....

Malaysian mindset n behaviour, easily forget real fast...at year 2022, fgv, pos, sime, IHH, Affin, Maybank all hit high prices, who gonna complain???

Posted by Daily8 > 2018-11-29 23:06 | Report Abuse

takashi86, AGREED!

Posted by henry888 > 2018-11-30 07:06 | Report Abuse

I think could be the other way, those get hurt involved many including investors will never forgotten the damages which had already been done and will show colour in next GE15 election.

Posted by dam82 > 2018-11-30 08:33 | Report Abuse

FGV Holdings Bhd is likely to record another round of losses in its current fourth quarter ending Dec 31, marking the group’s negative earnings for the third consecutive quarter.

None has a “buy” view.

“It is also looking to beef up returns from its downstream assets and has identified 11 non-core investments for divestment, which could net the group approximately RM250mil to RM300mil in proceeds.

Read more at https://www.thestar.com.my/business/business-news/2018/11/30/fgv-likely-to-record-q4-loss/#xsiVloHbrrtl5sTA.99

Posted by Tongkarat > 2018-11-30 08:34 | Report Abuse

Aiyoooooooooooooooo...aiyoyo

Posted by zerocool7199 > 2018-11-30 08:35 | Report Abuse

1way to holland d this shitty counter

Posted by dam82 > 2018-11-30 08:41 | Report Abuse

those who can hold ...keep if to sell now rugi habis ....2019 CPO should recover at least the price will go above 1.2 so for the time being hold only

Posted by 5354_ > 2018-11-30 10:01 | Report Abuse

Kenanga say "market outperform" in NST so up today? Why TP is 1.46?

Posted by 5354_ > 2018-11-30 10:06 | Report Abuse

10th Dec Felda White Paper possible to discuss FGV privatisation? Big loss QR govn can privatise FGV at lower price?

Posted by 5354_ > 2018-11-30 10:10 | Report Abuse

TheEdge yesterday said privatisation so I just add possible 10th Dec can discuss.

Posted by 5354_ > 2018-11-30 10:12 | Report Abuse

http://www.theedgemarkets.com/article/cover-story-saving-felda

Posted by 5354_ > 2018-11-30 10:13 | Report Abuse

If no buy can believe why up today?

dam82 FGV Holdings Bhd is likely to record another round of losses in its current fourth quarter ending Dec 31, marking the group’s negative earnings for the third consecutive quarter.

None has a “buy” view.

“It is also looking to beef up returns from its downstream assets and has identified 11 non-core investments for divestment, which could net the group approximately RM250mil to RM300mil in proceeds.

Read more at https://www.thestar.com.my/business/business-news/2018/11/30/fgv-likel...
30/11/2018 08:33

Posted by 5354_ > 2018-11-30 10:18 | Report Abuse

LGE/Tun M Star paper side MCA(BN) pls beware.

Posted by 5354_ > 2018-11-30 10:19 | Report Abuse

TheEdge side PH?

Posted by dam82 > 2018-11-30 10:46 | Report Abuse

The bad news just don't stop for FGV

World palm oil body cites FGV, alleges 'forced, unethical' labour practices

https://www.malaysiakini.com/news/454044

Posted by Muarmali > 2018-11-30 10:49 | Report Abuse

naive ikan bilis always say this "flashing out all the short term investors", "someone is pushing down the price to buy more." Laugh die me :)))
You should attend the AGM and ask the board to flash out all the underperformed staff. :)))

Posted by fgvnewbie > 2018-11-30 10:52 | Report Abuse

Some1 here kena force selling so keep talking bad?

mahorse Can somebody figure out why at last minute 1million shares sold to depress price to 91 sen???
29/11/2018 17:00

Posted by Muarmali > 2018-11-30 10:57 | Report Abuse

the new board must do a thorough audit on estate productivity and expenses.

Posted by Najib_bodoh > 2018-11-30 11:04 | Report Abuse

Najib stupid PM? He used RM 100 billion to help railways cronies(Gamuda, MRCB, etc)? Perhaps if use RM 5-10 billion to privatise FGV Najib still PM today?

Posted by Najib_bodoh > 2018-11-30 11:12 | Report Abuse

You think Malay easy to change? Ask Tun M whether true or not?

Muarmali the new board must do a thorough audit on estate productivity and expenses.
30/11/2018 10:57

Posted by Najib_bodoh > 2018-11-30 11:19 | Report Abuse

I support FGV privatisation. Listing FGV is a mistake.

Posted by Najib_bodoh > 2018-11-30 11:21 | Report Abuse

What price is suitable for privatisation? RM 1.2-1.5?

Posted by Najib_bodoh > 2018-11-30 11:21 | Report Abuse

RM 1.3 as FGV NTA privatisation price?

Posted by Najib_bodoh > 2018-11-30 11:29 | Report Abuse

Why I use my ID? If Najib never listed FGV in 2012 will there Emir Mavani. Isa Samad sue case?

Posted by Hidup_Anwar > 2018-11-30 11:35 | Report Abuse

If Tun M doesn't want FGV privatisation let Anwar be PM?

Posted by Felda_settlers > 2018-11-30 11:39 | Report Abuse

Choosing PH as govn is wrong? Why their manifesto(abolish Felda debts) for FS cannot fulfill after 6 months?

Posted by taepodong5 > 2018-11-30 11:42 | Report Abuse

FGV, alleges 'forced, unethical' labour practices....sell sell sell

Posted by ke9999 > 2018-11-30 12:02 | Report Abuse

media news obviously poised up more stories to bring down fgv price.

Posted by takashi86 > 2018-11-30 13:30 | Report Abuse

khazanah, epf, ltat, kwap all r dumping share for cash...
gomen no money lah...how to privitise??

be realistic laaah...mayb sell part of share to foreigner or local tycoon more realistic...

Posted by fgvnewbie > 2018-11-30 14:33 | Report Abuse

So you sell kah? Why interested to post here? Bursa I cannot see them sell.

Posted by fgvnewbie > 2018-11-30 14:36 | Report Abuse

Daily8 no more postings meaning you also sold?

Posted by fgvnewbie > 2018-11-30 14:39 | Report Abuse

I heard after QR Azhar CEO bought again true or not? Why most i3 forumers like to post untrue posts?

Posted by Daily8 > 2018-11-30 14:40 | Report Abuse

Have to be realistic. If a profit company, do you think can get cheaper price?

Posted by Daily8 > 2018-11-30 14:40 | Report Abuse

Azhar bought 100,000 shares on Wednesday.

Posted by fgvnewbie > 2018-11-30 14:45 | Report Abuse

FGV shareholders if you cannot post here pls post in haters ctrs at least people thank you. Once haters come here you like no balls to post. You no need to use same id like here when do attack.

Posted by fgvnewbie > 2018-11-30 14:46 | Report Abuse

Drop in FGV I see partly hate postings not any big shareholders sold.

Posted by Daily8 > 2018-11-30 14:57 | Report Abuse

FGV just hold if bought higher. This company was "taken advantaged" by those ex shitty Directors. It will served as a reminder for many other top managements in future.

Now, FGV cannot go hanky panky anymore. Everyone know about the "old FGV"

The new FGV need to thrive.

Posted by griezmann > 2018-11-30 15:00 | Report Abuse

If there is no more force selling it will recover like Prestariang... but the 10-20% type of recovery, not back to the 1.50-1.60 levels...

Posted by 5354_ > 2018-11-30 15:09 | Report Abuse

takashi86 you are wrong to say govn no money. When they pay politicians like Tun M, LGE Saifuddin 70-80K monthly where the money come from?