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.
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.
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.
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.
This is what should happen. 1) Bursa should tell "FGV" they will be suspended immediately unless the public shareholdings spread are fixed. 2) Instruction should be given by Bursa as well as FGV to FELDA to decrease their % holding or FGV will remain suspended indefinately. 3) If still no solution then FELDA should do another GO. 4) Force sell or pending delisting.
So bodoh. Previous extension already expired but new development still pending response from Bursa. Screwed up big time. If not for us writing in yesterday to whack them, probably no announcement at all after market yesterday. Real gaji buta and sleeping on the job.
Should have been settled, decided and announced even before previous expiry on 3/8/22 for investors to make informed decisions? Investors were trading in the dark past few days not knowing why they were buying or selling. Somebody didn't do their job.
There is no point in resumption of trading on this news. Basically all the buyers are being manipulated by FELDA because of their shareholdings. They can play those silly investors who chase this by selling it . They got that much stock to play (dump). Is BURSA BODOH?
Please note that Bursa Malaysia is not recognised as an “enforcement agency” under the Whistleblower Protection Act 2010 (“Act”). If you intend to rely on the protection offered by the Act, please make your report to the Securities Commission who is recognised as an “enforcement agency” under the Act.
The important part is they keep increasing their holding instead of reducing. Now we are into Kampung Chicken. Hey, we already got the biggest "CHICKEN" in BURSA. No control over their regulations. As long as you are big enough you can just ignore BURSA. Rules are meant to be broken, come to the real world of manipulation of the market.
When they reach compulsory at cheap price by scheming and scamming, you will have no choice. That's why most important advice to balance minority shareholders is don't ever allow them to reach 90% cheaply.
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....