No need to hear or heard. Already announced. Bonus issue is nonsense pref shares. Irrelevant and useless. Just to buy time before another privatization exercise. Just you wait.
calvin, Bplant had a bonus issue. i think it was 1:1, so if count adjusted price, bplant ipo is only 80sen. So Klk takeover is actually 2x adjusted IPO price.
What a useless company. Not only poor result but got the cheek to ask for extension of time again to rectify spread issue. Really bodoh. Buying time and delaying tactics again. The regulators should tell them to go fly kite.
the only reason FGV is trading at 1.42 is because of the "potential" privatisation. otherwise, it'll just be a penny stock due to it's terrible results
speakup calvin, Bplant had a bonus issue. i think it was 1:1, so if count adjusted price, bplant ipo is only 80sen. So Klk takeover is actually 2x adjusted IPO price. 28/08/2023 9:28 PM
Good morning Mabel. I guess there were some kind of rumours that caused share price of MSM surging like mad yesterday. Maybe privatisation of MSM or government approved the sugar price free float. Just my guess ya.
Relax Mabel meow meow. You are always very cool. But why so kan chiong this time? After all you have already sold your FGV, right? Give some time for guru Calvin to draft his masterpiece la. FGV is going nowhere anytime soon. Cheers.
Indeed!. The only reason FGV is trading at 1.42 is because of the "potential" privatization. Otherwise, it'll just be a penny stock due to it's terrible results.
On Top of that they have the cheek to ask for extension of time again and again to rectify spread issue. Really Incompetent!. Buying time and delaying tactics again and again.
So it's not worth holding FGV as there are more other Competence GLC Plantation out there..
All the best you lionel and team here for still holding still believing in FGV..
On August 8, 2023, Assam Chief Minister Himanta Biswa Sarma announced that the state government had initiated a large-scale oil palm plantation project in partnership with Patanjali Food Limited (PFL).
The ambitious project is an initiative to achieve Prime Minister Narendra Modi’s goal of self-sufficiency in edible oil production. The venture will bring 370,000 hectares of land under monoculture plantation, according to the announcement.
#CALVIN. pls note FGV is not the same as other plantation and they can't get upside on land value. Felda can anytime take back the land at 5X PAT for old estate and 10X PAT of new estate.. the PAT is for CPO only of all the estates average. See the IPO doc. When I have time I will post which page. Pls understand FGV land is owned by Felda and they can anytime take it back and pay the above formula to FGV.
You are right, #rohank71. You can also read pages 242 to 246 of the IPO Prospectus fo4 more details. Thanks for the heads up, rohan. It's interesting how the plantation land value is not given to shareholders of FGV but only earnings from the bz. It's like U a hospital. The hospital rents a purpose build building and derives the income but doesn't own the building itself. So we buy the hospital for the business or the building. Unlike IOI, KLK, we buy both the land and bz, but FGV we only buy the bz, and land is not for shareholders. Early termination shareholders get a compensation which is nowhere close to the land values.
The recent Pref Share proposal, will give a better split of the assets. Not all assets/land of FGV is under the land lease agreement. Only the 350K ha under LLA ie the original IPO LAND
The other balance land (no dev value) of about 80K ha is not under the LLA. So the Pref share only take the profit of LLA and some downstream bz whilst the ordinary share take profit of the other asset including MSM and the others.
Tq #EVEBITDA for ur detailed explanation. So FGV will be transformed into normal plantation company with their remaining non Old Felda Land. And we can enjoy the upside.
If I read u correctly, the Pref Shares is taking back all the old Felda asset injected into FGV @ IPO by Felda. So which is better to hold, or hold both, or sell both.
After Pref Share, Felda keep the Pref Shares and do road show to sell down the ordinary shares to meet public spread? Felda bought the ord shares at 1.30, so any sale above 1.30 is profit to them.
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
53,299 posts
Posted by calvintaneng > 2023-07-26 01:57 | Report Abuse
WHEN PALM OIL ESTATES TURN INTO INDUSTRIES & TOWHSHIPS: THE HIGHEST VALUE IS ACHIEVED, Calvin Tan
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2023-07-26-story-h-244697165-WHEN_PALM_OIL_ESTATES_TURN_INTO_INDUSTRIES_TOWHSHIPS_THE_HIGHEST_VALUE_