Its latest ann on public shareholding spread today shows that Felda is being defiant and is taunting you Bursa. Don't be a lame duck regulator. Show your power Bursa. Suspend the bloody counter. Too much time has been given to them.
With no BOSSKU, the settlers of FGV are going to be history. Nobody is going to look out for them. In fact there will be nobody stopping them from being taken full advantage off and milk dry. End of the RAZAK legacy. Now let's see if BURSA will put the nail in this nightmare.
what is the rational bursa to suspense the trading of FGV if the suspension doesn't have any effects on the public shareholding spread since for the past 2 years felda ignorance to rectify the shortfall and continue to suppress the share price to collect it cheap when FGV financial health begin to see improvements
It gives us the impression that minority shareholders carry no weight even by the regulators in enforcing their own regulations. Even with words like "manipulation, suppression, scam, depressing the price"posted on this site for weeks, Bursa is still not going to act. What is it going to take for them to do what they are paid to do?
According to AmInvest "FGV will be appealing to Bursa Malaysia for more time for the group to resolve its public shareholding spread issue. FGV plans to come up with a plan soon. Recently, Bursa Malaysia rejected the group’s application for an extension of time. The previous deadline was 3 August. FGV’s public shareholding spread stood at 13.1% as of 25 August. There is a risk that Bursa Malaysia may suspend trading in FGV Holdings if the public shareholding spread requirement is not resolved."
Maybe they can issue them a fine for breaching Main Market listing requirements. What the hell is different? Is it because it is a "BIG" GLC and they don't have the guts to do it. Can only bully small unknown fries.
1. The Company’s major shareholder, FELDA, vide its letter dated 2 August 2022 maintained its intention not to retain the listing status of the Company as indicated in its Offer Document dated 12 January 2021. (23/8/22)
2. The Company has not formulated any feasible rectification plan to address the shortfall in the Public Spread Requirement. (30/8/22)
Here are 2 issues to be looked into: Felda perspective, - Felda is obliged to undertake another delisting exercise to walk the talk FGV perspective, - FGV should follow up on the Felda's obligation, where appropriate, to protect the interest of its shareholders. - Where no delisting exercise is carried out by Felda and FGV resolves to address the shortfall, i wonder whether Q Felda can be accused of cheating FGV and its shareholders ?? Q Bursa Securities will assume NOTHING violated under rules on take-overs ???
Big con job. Can't do what they got with one of biggest plantation and they want to venture into something else. Do what you you know best before venturing into something else. If they don't know how to manage an oil palm plantation then sell it off and go to milking cows.
Yes diversify if you are doing very well and have excess cash flow that you don't know what to do with. I am sure Syed Mokhtar would be happy to take over FGV or find a consortium to take it over. Give him a chance to make an offer and you will find out.
Sounds like another scheme of moving money out of FGV, like that Eagle Plantation deal in Indonesia. Only difference is this time it is going to the middle east. Must have learn it from Bossku or maybe that chinaman is secretly working on this.
Would like to seek the advice of all the esteemed gurus here. The previous GO was RM1.30. Let's say they do another one now at RM1.50, does Felda need to compensate 20 sen to those shareholders who accepted the first GO? Is there a time lapse before they need not compensate? Tks.
Sure wish the regulators wil come out a make a statement on this public shareholding spread and what they intend to do about it instead of leaving us minority shareholders out there wondering what course of action we should take.
I have written to MSWG. Let's see if they care enough to do anything for minority shareholders. Don't have too much hope though but we must do our best to broadcast and seek recourse everywhere as much as possible. Media, regulators are best avenues.
#EVO118 Where are you Mabel? I am sure you can provide some insight on C&C. Pretty sure you was in it all the way. 13/09/2022 9:34 AM
Sorry for the late reply as Mabel has been busy with Energy, Techs and Shipping Team. Despite current volatility, Sarawak, Indonesia, Thailand and Singapore based Plantation managed to stay on course. As a shareholder, Mabel feel we are not well treated by Felda after giving tremendous support and loyalty to this Plantation. So Mabel decided to sell off all FGV holding due to Felda unfriendly attitude. However, Mabel remain invested in other better Plantations in Malaysia, Singapore, Indonesia and Thailand. Some in the Case of Golden Agri Plantation, Mabel also invested in their Sukuk.
As for CCB, Jardine Cycle & Carriage Ltd said its stake in Cycle & Carriage Bintang Bhd rose to 94.78% after its takeover offer ended on 25th August, paving the way for the delisting of one of Malaysia’s leading Mercedes Benz dealers.
Kindly be advised that trading in CCB’s shares will be suspended with effect from 9.00 a.m., Monday, 5 September 2022, pursuant to Paragraph 16.02(3) of the Main Market Listing Requirements.
In the earlier exercise in 2019 Jardine offered was RM 2.20. The offer was rejected by the Shareholders. The latest offered was RM 2.70. Extract:
"The RM2.70 offer price by Jardine Cycle & Carriage Ltd (Jardine CCL) — the offeror — represents a discount of RM1.26 or 31.76% to the estimated revised net asset value (RNAV) per CCB share of approximately RM3.96.
Having said that, Kenanga IB highlighted that shareholders should take note that the estimated RNAV represents the fair value of the CCB group’s assets with the deemed presumption that CCB is able to sell all its assets on a willing buyer-willing seller basis in the open market in the immediate to medium term at the indicative market values." =============..============ RNAV already worth RM 3.96, this amount still not take into account for Malaysia Mercedes Benz sole distribution right..
For CCB Case, it was worth the wait for those shareholders that hold on to the end.
JAKARTA (Sept 26): Malaysian palm oil futures fell nearly 7% on Monday (Sept 26), tracking weakness in rival edible oils amid recession fears, and after a leading analyst warned prices would plunge by more than 30% by the end of this year due to ample supply and weaker demand.
The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange dropped 6.85% to trade at RM3,480 a tonne in early session, down for a third straight session.
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....