Poor settlers. They should realised by now that this whole set up is for the Bumis who has got connections to keep draining the pot of GOLD. The low $2500 per month increase for the lowest non executive Directors would have help the settlers if spread out for their benefit instead of a few priviledge Bumis. Pity most of these uneducated settlers who keep believing the LIE.
Too close to 3rd Aug for a GO. It is not going to happen. It sure doesn't look like FELDA has been reducing their % holding of FGV. Now it is a matter of who call the shots. Bursa or Felda? Another 6 months extension?
IPO price of RM4.45 back in June 2012, now trying to mop everything at RM1.50? No way baby. Fat hopes. Like I said earlier, take their own sweet time. I want a few more years of dividends. Let's see who can wait longer.
The only thing stopping FELDA from taking over in a GO is because the state institutions who are holding a decent % are not willing to let it go at the price FELDA is offering. With the WAP @ the moment at 1.50, my guess is for it to be successful it has to be at least 2.50-2.80. Anyway it is not going to happen in the near future. After GE15 maybe.
Many companies have in the past done it before. Do "funny things" with certain shareholders to trigger a low compulsory GO price to rip off minority shareholders. But don't try it here. ESG is watching you closely.
Losing or winning fair is ok but in Malaysia, corporate governance is very poor. Minority shareholders always kena ripped off in major corporate exercises.
Is there a compulsory disposal because they exceed the substantial free shares percentage? Bursa can't possibly allow FELDA to slowly creep up to 90% without making a GO and then force a compulsory acquisition on the remaining shareholders. So what is it going to be? Can FELDA do what they want or can Bursa force the issue? Who is BOSS? Guess we will know by tomorrow.
In the context of Non-compliance with public shareholding spread, WILL BURSA SECURITIES APPLY DOUBLE STANDARD ?
Re: LTKM case Take-over closed on 2/10/2019 Latest extension of time till : 31/3/21 Further extension rejected on 2/4/21 Period granted: 18 months
Now, dealing with fgv Take-over closed on: 15/3/21 If same standard applies, extended DEADLINE should be: 3/8/22 ( latest known date) ???
For the past 18 months, i wonder what positive action has been taken by FGV to address the declining shortfall ???? i believe FGV owes its minority shareholders an explanation. what say u
So does the poor investors who accepted the original GO get a refund or compensated for the difference in the current buying price FELDA paying for since the acceptance was based on a takeover?
If they can let the deadline stretch out for 18 months then the GO should be valid for 18 months. If FELDA can stretch investors out for 18 months, I think investors would be willing to accept some compensation 18 months later.
There was never any intention of FELDA rectifying the substantial free shares percentage. If anything it is FELDA's intention to use the extentions to try and increase their holding to a level to enable them to do a compulsory acquisition. WAKE UP BURSA!
To be fair, they have said many times of not wanting to remain listed. The only thing that disturb their plan was inflation. Now most of the remaining minority shareholders are not willing to sell cheap. To these shareholders especially the bigger state or govt linked one, I must caution you not to go into any scam with Felda on the cheap to reach 90% in order to rip off balance shareholders and get some sort of rebate or kick back in return. Have some conscience and play fair. KARMA is real.
This is a PLC. You got it listed with some ridiculous IPO price by getting the funds from us investors and now you want to take it private but not prepared to pay? Just because your intention is to go private doesn't mean we are going to give it to you at that price. We will get more if FGV's Directors are prepared to even consider Syed Mokhtar's offer.
Anwar is HISTORY! You need someone like BOSSKU who might be dedicated enough to protect his father's legacy. With an architect of Low Yat fiasco running the country, the stock market is not going anywhere. Malaysia will be looking at bigger problems.
Bursa, has to tell us sooner or later whether they are going to be "CHICKEN" or "TIGER" with FELDA. Can't hide from the fact that they and the rest of the investors here have been taken for a ride.
Relax and chill EVO. I want my at least 8 sen div. Gives me yield of 5.3% at current price. Not too bad. If there is no compulsory, I'm not too worry. Just collect as many.
can be like this one? no immediate announcement after deadline? walao tell us lah want suspend trading or another extension to solve public spread issue.
Because it is a GLC they think it belong to their grandfather and can do whatever they want and answerable to nobody. Typical Malaysian Bumi GLC mentality.
You know most of us investors are online before 9.00am. By 11.00am we are probably heading to the nearest kopitiam for our kopi or teh tarik and by 12.30pm we are having a lunch break. So what are they doing?
"The Company has, on 26 July 2022 applied for a further six months’ extension which is pending response from Bursa Securities."
What is that suppose to mean. Surely they are not going to give another 6 months without FELDA even trying to to get the publis shareholding spread in order. If anything they are abusing the generosity of that extension. To put it in perspective, from the date of the first extension till the next one, if you have a baby, he or she will be 2 years old. How time flies. We could easily make some money on some other counters within the 2 years.
Evo, I think it's more like FELDA still has not received the mandate from the "TOP". That is why they request for another extension and I think they will get it.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
EVO118
2,094 posts
Posted by EVO118 > 2022-07-21 19:29 | Report Abuse
lionel messi
Excellent analysis. I totally agree with your insight.