Wednesday, October 05, 2011

21st century Felda


For the Felda settlers, things are really looking up

Bajet 2011: Najib to continue where Mahathir left off 8 years ago. Two days to go before Najib unveils the goodies in his Bajet 2012, talk is rife among the pundits of this being a "peope-friendly" budget, for which all of them could be proven right. But what has escaped most pundits are the voices rising from the desa and reaching the big city (see my earlier posting Bajet Desa).

These are the Felda settlers, especially the second generation, who have been calling out for more job creation, more business opportunities and the need to move along after 50 years of success. They seem to be looking for a game changer, a real transformation, as opposed to small incremental improvements.

Felda's success mirrors that of Malaysia's own relentless march in generating ever higher GDP figures over the past 50 years.

Of late, those Felda voices are being crystalized in asking for the stalled listing of Felda to be revived (What Settlers Want, 15/8/11). This was first announced by Dr Mahathir in his budget speech in 2003 - his last - but when he stepped down as PM, the idea went nowhere. For 8 years, it seemed forgotten.

No doubt, Najib as the first PM to fully embrace Felda as if it were his own "constituency", is keeping his ears to the ground and may be tossing the idea of responding to the ever louder calls by Felda settlers to have Felda listed.

One thing is sure to remain since the original announcement my by Dr M 8 years ago - settlers' land will not be touched in such an exercise. Much of the renewed enthusiasm to list comes from the recent success of Felda's listing of its sugar subsidiary, MSM Malaysia Holdings Bhd, where settlers got a windfall of RM300 million through shares in Koperasi Permodalan Felda, which is owned fully by settlers. In fact, KPF is said to pay out some of the hihgest dividends, at 15 per cent per annum, which is a testament to settlers ability to run big business.

So this may be the Bajet where Najib transforms Felda into a listed behemoth to rival the likes of Sime Darby, no doubt a move that will make the market happy and the settlers happy.

13 comments:

usabukata said...

dato

felda, felda, felda
adakah najib ni perdana menteri felda? apa jadi kepada orang kampong yang lain yan sebenarnya lebih daif dari orang felda. tidak salah beri perhatian kepada orang felda tetapi jangan lupa kepada orang kampong yang lain.

sekadar peringatan.

usabukata

Nik said...

Well there is a bit of danger to this as a caveat:
1. The timing is not right. The economy and market does not have the appetite for this type of listing. Thus the value will be lower than its may deserve. I don't think we are going to see a recovery for a couple of years due to the European and US deficit contagium.
2.If you compare FELDA to any other listed plantation company they lag behind in efficiency and yield. Their yields compared to the likes of Wilmar, UP and IOI are way behind. Felda are no way as efficient as them. But the reason is very understandable. Felda operates almost as a co-op and as a social function that groups together settlers in smallhoding plots. Other plantation companies have larger plots of arable land that use cheap labour and mechanisation.
Once listed Felda will have shareholders to answer to and need to show increasing profit year on year. This will require efficiencies and a very lean labour force. Thus the social element will be eventually lost.

Thus if listing is being considered there has to be clear understanding of what Felda's objectives for the future will be. Profit or social - as it is difficult to do both. Listing may make a few people very rich and very fast and add some millions to the MoF coffers. But at what price in the future to the settlers?

CHI8 said...

BRO YOU SURE SOUND MORE AND MORE LIKE NAJIP'S SPOKESPERSON.

LIKE NAJIPLEAK THINGY.

LIKE IF YOU WANT TO KNOW WHAT NAJIP IS THINKING, GO SEE WHAT ROCKY IS WRITING.

HEHEHE

Anonymous said...

Rocky, boleh tolong panggil Najib/UMNO pulangkan semua wang pada felda, di mana selama ni wang Felda semua dikelentong oleh UMNO/BN !!

Anonymous said...

CH18,

common la u guys, the moments bloggers like Rocky wrote something to support Najib automatically they are being labelled Najib's polishers! please la check his other writings also. they are instances where he gave it to Najib as well. things that are positive they are given due recognition and things negative are being highlighted as well. don't la be like PKR supporters who even if they see with their own eyes their supreme leader sodomising they still think otherwise. that is PITIFUL!!!!!!

umar said...

Felda Cemplak, Layang-layang and all others are employing Indons and Banglas to work on the land on contract basis.The actual settler gets peanuts after paying everybody. Yet they are happy because the price of CPO is still good. Their children don't work on the farm: lazy. They are busy with Facebook ,U-tube playing games and watching porn by freely given laptops.The wayward youths are high on drugs .
the old folks are resting at home and mosques while the foreigners are enjoying the yield.On the other hand , the Felda administrators cheat them by undercutting the price and syphoning stock to outside parties. All these happen in broad daylight.
Go and stay in any Felda for a few days; you can see the pillage of fruits, fertiliser and even nursery plants !Felda has hundreds on subsiadiaries. No wonder he executives in HQ are happy.The biggest bocor in Felda Rubber Industries in Kuantan....
Of course, CIMB will value Felda like how they did for synergy drive- huge fees to plunder . So they have to list Felda soon to squeeze the remaining juice...

Anonymous said...

felda, polis ,guru, saya rasa itulah bajet 2012, yang lain harap maaf, wabilahitaufik....

Anonymous said...

How long can Felda last when the Chairman was convicted of money politics before ? A leopard can change its spots ? It's simply a case of the fox being given charge of the henhouse.

Godfather

Anonymous said...

What did i hear Felda again?
The last they had borrowed money from EPF inspite of loaded cash flow?
Another round of spinjning again!

cahaya said...

Salam semua,

1. aku tak tahu berapa banyak tanah yg felda ada selain tanah rancangan felda yg sebahagiannya telah dimiliki oleh peneroka. (mazlan boleh tolong bagi tau tak - aku pun nak apply)

2. aku rasa cukup lah felda & felda plantation/technoplant (tak pasti) yg tolong urus ladang. aku akui yg aku pon tak larat nak kerjakan ladang tu sebab alhamdulillah semua adik beradik aku berjaya.

3. Jadi yang aku pohon bukanlah tanah 2 ekar (yg aku dengar mcm mazlan tu bagi tau), cukuplah tanah mak bapak aku (itupun kalau mereka tak infakkan ke jalan Allah), kami adik beradik tumpang nama dan hasil nya dapat disedekahkan atas nama mak bapak kami. Kalau ada lebih boleh kami bagi sama rata masuk dalam KPF2. Itulah juga yang aku harapkan daripada anak-anak aku jugak kelak...

4. KPF2 tu memandangkan dibukak jugak kepada anak dan cucu, harap had dia dan dividen dia dapat lah tinggi lah jugak walau tak setinggi KPF.

5. cuma kalau ada perkara yang tak betul dilakukan oleh orang yg tlh diamanahkan untuk menguruskan FELDA, saya hanya boleh berdoa agar TUAN2 laksanakanlah amanah tu betul2 - insyaAllah ganjaran dari Allah itu lebih besar (sebab kalau tak amanah nie lah amalan yg senang terlucut dari diri manusia akhir zaman)

6. Jadi dengan cari ini a) tanah felda kekal milik peneroka, anak dan cucu, harap sampai ke cicit, piut, miut... dan tak tergadai, malah jariahnya mudah2an sampai ke peneroka yang asal iaitu mak bapak kita. b) sumber makanan berasakan sawit juga dapat di kekalkan - minyak masak, marjerin dll. c) juga2 sumber2 lain berasaskan sawit boleh diperluaskan lagi...

7. aku rasa orang kampung pun boleh menikmati apa yg orang Felda rasa. cuma mungkin ke reverse balik, contoh semua orang yg ada tanah padi dihimpun dalam kelompok "Tanah Rancangan Padi" sebab petak padi tu kan bersebelahan jer. Yg lain2 tu ikutlah cerita Para 2-6.

8. Yang penting waris janganlah tamak sampai nak bagi2 tanah tu dan jual. yang rugi kita. tanah tergadai pada orang lain.

sekian.

dontbarkfornazir said...

Rocky bro, i dont think you know the purpose of listing.

Listing is to get money from shareholders out there to run Felda.

If Felda is to be big as Sime Darby then as some commentator mention it just means plundering fees again for CIMB and Nazir.

And the fees are paid up front. Those money from shareholders are not free money. They expect dividend to be paid.

So instead of sharing the profit among themselves, Felda settlers will have to share it with more shareholders. all this for one time capital gain if any.

Please read up 101 of listing..

bru said...

dear dontbarkfornazir,

itulah, lu ingant purpose of listing satu aje. tu old school thinking la bro, real 101. we in malaysia have moved on.

one of the reasons for the listing of felda - if it's going to be listed lah - is to give government the exit and let the professionals run the entity.

it will also open up jalan for felda to explore the world, including to tie up with one of the Big 4 in the industry's downstream sector.

along the way, felda settlers make money and members of the public get pink forms. if the timing is right, bursa will benefit and small time market players will get some excitement.

kalau felda nak duit, kawan, tak payah make it public. just go to the EPF. Ada betul?

Anonymous said...

Felda is run like a co-op? Low yields compared to IOI and Wilmar? Please lah. Check your facts. Please categorically state how IOI calculates FFB yield per hectare? Did you know that they excludes roads, buildings, unused land to get calculate yield? Did you know that Felda' s research division has the world standard in oil palm seed production? Don't embarrass yourself when the truth about Felda's Oil Palm potential is made known to the public.