@joan123.... maybe they are facing a tight cashflow situation....bear in mind rm5billion gone in thin air because of SRC....the subsidiary of 1mdb.... just my view...
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
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.
Tongkarat : 1. Fgv with the present set of estate managers at all times they will never be able to meet the LLA dues to felda becox their yield only 17 Mt.
2. I never read anywhere the comittment from the managers or from PH govt that we must strive to increase the current yoeld from 17 to 19 mt. as they lack professionalism
3. At all times fgv cannot meet the LLA terms to felda so always both fgv n felda will be bankrupt
4. Felda have to pay billions to fgv if they take back their land hence now felda busy selling their assets. Govt cannot bail out both fgv n felda
4. If u give garland to the monkeys, what happens, which we aee seeing now
5. For felda to survive fgv must be taken private but no money hence I am equating fgv to MAS
@Ring....it is okay for you to be pessimistic but I tend to be more realistic....
Both felda and FGV are now being steered by the new set of top management teams. We should give due time to them to implement all the regularisation and strategic rehabilitation plans and initiatives as laid out by them....
The results may not be immediate but the progress should be vigorously monitored....
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....
Tongkarat
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Posted by Tongkarat > 2019-04-05 16:12 | Report Abuse
@joan123.... maybe they are facing a tight cashflow situation....bear in mind rm5billion gone in thin air because of SRC....the subsidiary of 1mdb.... just my view...