One of the most hotly anticipated sessions this afternoon will bring together the newly appointed heads of Malaysia’s largest institutional funds — Permodalan Nasional Bhd, the Employees Provident Fund, Khazanah Nasional Bhd and Kumpulan Wang Persaraan (Diperbadankan).
They are the biggest investors in the local stock market; when they move, they move the local bourse.
The change of the guard at these large institutions has left investors pondering new strategies and investment mandates under the new leadership.
[FELDA LKTP IS BROKE!!! New Economics Affairs Minister, Azmin Ali, finally admits the truth. RM9 BILLION losses 2013-2017, RM12 BILLION bank loans! https://www.malaymail.com/s/1705296/azmin-felda-broke-saddled-with-rm8b-debt-when-ph-took-over#.XB39BgYxyHY.twitter I warned everyone - Najib, Shahrir, Felda, UMNO/BN, PKR, DAP, Bersatu, Amanah, PAS - of this in my Dec 2017 and February 2018 blog posts: 1. http://donplaypuks.blogspot.com/2017/12/felda-loses-rm16-billion-in-eagle-high.html 2. http://donplaypuks.blogspot.com/2018/02/bombshell-felda-lost-rm44-billion-2013.html Then, based on the 2016 accounts, Felda's bank loans totalled RM9 billion. Now, it has ballooned to RM12 billion with Najib's forced RM2.26 billion acquisition of Eagle High Plantations from Indonesian crony Peter Sondakh. This disastrous "investment" which was bulldozed through by ex-Chairman Shahrir Samad is now worth a mere RM600 million, i.e., a write down of RM1.6 billion in less than a year! I am sure there is a very strong case for the government and Felda to sue Najib and Shahrir for dereliction of fiduciary duty, negligence and fraud vis-a-vis the Eagle High purchase. Why do you think Sondakh's personal jet was waiting to fly Najib and Rosmah to Indonesia for a "short holiday" shortly after GE14 in May 2018? Apa lagi you mahu, Mahathir/Lim Guan Eng/Azmin? Beyond that, with annual interest of RM500 million on bank loans of RM12 billion, (@ say 4.2% p.a.), like Tabung Haji (TH), Felda is in a very deep hole indeed. In short, it's up the deep shit creek without a paddle. And as sure as the sun will rise in the East tomorrow, Mahathir and his ex-UMNO right-wing cadres, as they did with the TH RM20 billion bailout, will ask us, the Rakyat, to bailout Felda. Well, they won't be so nice as to ask us for our permission. They will just ram through an ill-conceived (as with TH) rescue package whether we object to it and whether we like it or not. Azmin was due to table a long-awaited White Paper on Felda to Parliament last week, presumably outlining the rescue package. It was eventually withheld due to some legal concerns by AG Tommy Thomas. The true extent of Felda's catstrophe will be revealed once its 2017 accounts are published. Or, will the government mount a cover-up and not publish it, especially as there's more bad news due from the 2018 financials? This prompts me to once again ask Mahathir, Anwar, Nurul Izzah, Wan Azizah, Muhyddin, Khalid Samad, Mat Sabu, Bersatu, DAP, PKR and PAS, what many want to but dare not: 1. When not 1 cent of the benefits of TH and Felda went to non-Bumiputras - haj and other subsidies, high dividends, bonuses, etc - on what grounds is Mahathir now saying the rescue packages should be financed by Taxpayers via MoF/Treasury? 2. Why should the government not compel Bumiputra institutions such as Permodalan Nasional Bumiputra (PNB) and other Bumiputra funds to bailout TH and Felda? What is there in it for US? I mean also, how many bites of the cherry are purely Bumiputra institutions allowed before Mahathir and the government decide to bite the bullet and give failed experiments their due decent burials? They shoot damaged horses, don't they? Or, to put it in a tacky way: The road is long. When do I stop carrying my brother?] is good,have a look at it! https://m.facebook.com/story.php?story_fbid=10158080969974502&id=580004501
Give him until the end of the year to see the end result...need to be fair to him as well.... mambang sawit would personally call him from time to time to remind him of his duty to all stakeholders...
@ alivetoinvest. That will be matching what i have predicted earlier. my 1 cent opinion.
Stock: [FGV]: FELDA GLOBAL VENTURES HOLDINGS BHD
Mar 12, 2019 01:15 PM | Report Abuse
Below is my earlier comments. "Quite substantial amount of shares sold by KWAP.....who bought KWAP's shares. Logically, if want to privatize, Felda or relevant body appointed by Government should have already in the process of collecting shares from the open market so as to save the total buy up and the offer price should be agreeable by the shareholders in particular the Felda settlers."
Maybe another to see it is to average down the 7.7% shareholding transferred from TH to Urusharta bought at IPO price of $4.5. By doing this, it's takes shorter time to recover the initial investment. Either way, seemed there is upside potential for this counter. My 2 cents...
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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....
Jiahui Foo
3,335 posts
Posted by Jiahui Foo > 2019-03-18 16:46 | Report Abuse
If each member donate 5k to the party which got 1M ahli, then can straight away private Fgv oledi, no need wait those papers........