Wednesday, February 22, 2012

Felda: In Najib we Trust

Just came in from Big Dog: IPO to go on, new model proposed.


Original posting
Felda Settlers Trust. It didn't come as such a shock that Felda had to defer its EGM this afternoon, an all-important meeting for the 113,000 settlers to decide on what the Cooperative would do about the Government's proposed listing of Felda. Why not shocking? Because the Board of the Cooperative could have acted on an injunction filed by a few members of the cooperative [EIGHT of them, to be exact, please read Wayang Pengurusan KPF ... ] who may not owe their loyalty to the settlers. The Board could have acted to get the courts to lift the injunction and the courts would have, in my opinion, obliged to such a request as an EGM is a legit avenue for the settlers to discuss their future.

The 113,000 settlers minus the 8 are disappointed, needless to say. But that's the way things are in Felda. For those of you not familiar with Felda, the Cooperative is made up NOT just of the settlers. There are 220,000 Felda cooperative members, including the management of Felda, general workers, and children of the original settlers. The listing of Felda will benefit ALL of them but the exercise is aimed particularly for the 113,000 settlers.

The Government may have no choice but to consider the options at hand. Najib Razak is determined to push for the IPO because it's the only way to go if the government wants to take the settlers to the next level and involve them in the future expansion of Felda, locally and internationally. 

Since the Cooperative seems intent to block the listing of Felda, it is possible now that an ASN-like entity be set up by the government for the 113,000 settlers and that this trust will be the new vehicle for the IPO, which is still scheduled for May this year. 

29 comments:

Ketua Kampung said...

In the history of Islam, there's this 'puak' called as the Khawarij and this 'puak' has always been known as the group of people that always against the rulers, even during the times of our beloved Rasulullah S.A.W.

That's what happened when our Malays never want to read the history of their country and religion. We never like to read.

At the end, we have dunggus that supports another dunggu...only because they never read.

Anonymous said...

Do whatever the government wants to do as long as they don't touch the assets of KPF and Felda Plantations which is doing very well and making profit. The FGV is a losing concern and how do you expect it to perform better?

Anonymous said...

Satu lagi projek 'kelentong' rakyat dari UMNO !!

Anonymous said...

Right Rocky,

In Najib we trust that he will Plunder what he can for his gang...

Haven't we seen enough to convince us that he will continue the despicable acts until he is totally oustered and the incoming ruling party will have to start looking for money to replace what was squandered....

Skilgannon1066 said...

Why is the government even bothering to list FGV, given the political minefields that lie in wait?

Is it because Bursa Malaysia needs more big listed companies to attract foreign funds?

It must be disturbing to the government to see Khazanah's Integrated Healthcare Holdings headed for a dual listing on Bursa Malaysia and the Singapore Exchange!

More so if IHC can command a higher valuation on SGX than on Bursa Malaysia!

Anonymous said...

The listing will attract transparency, the holy word the opposition are always capitalising on. But what happened? Terbalik pulak. It shows that the opposiion is all for power only, not for rakyat.

It seems in Malaysia the minority always cause chaos and upset the stability of the majority

Anonymous said...

Semua sombong.
Sebab harga sawit tinggi sekarang

Tapi kalau bila dah turun macam getah pada suatu masa nanti, mulalah nak minta tolong itu ini, buat muka kesian

Macam itulah kerenah manusia, yang jarang sekarang berterimakasih.

Made worse by the presence of opposition whom is all about getting power and not about rakyat.

Anonymous said...

It is a simple thing made difficult.

Throw it to the majority. If the majority wants it, go ahead. If they do not want it, so be it.

But, of course the Pakatan the rebels as they are, must throw the spanner into the works to keep their silly followers happy.

A GOOD MAN DOES NOTHING.

Zixin said...

Hi Rocky,

I'm writing from Singapore, Channel NewsAsia. I've left an email to you requesting for a media interview with you.

Thank you so much for your time, we hope to hear from you real soon!

thank you!
Zixin, producer
yanzixin@mediacorp.com.sg

Anonymous said...

Proton yang satu ketika begitu KUKUH,akhir nya tinggal Rm5.43sen saja. Dulu ramai betul Melayu yang pegang share itu tapi sekarang tinggal berapa kerat sahaja.

Kita lihat lah nanti instant MIlllionaire, berapa lama duit dia orang bole bertahan.

-BODO LAGI-

ShaTV3 said...

off topic, Bru.

nampak macam Bru struggling on a bicycle in TTDI hari tu. You, izzit?
Duduk situ, izzit?

Anonymous said...

Who care if they want to drag felda thru the mud...

Anonymous said...

This is no going to be good, Felda is 100% Bumi and once the share price increase by 0.5 cents the Bumi will sell it off and the non-Bumi will pick it up.

So how can Bumi ever achieve 30% equity?

Anonymous said...

tot garblement are administrator and not trying to be gungho businessmen...

the moment they do that... one thing will happen... they will fuck up big time.

u and all the rest of us know one thing... najib got no grey matter for business.

Anonymous said...

Would you trust your money with Isa Samad ? Answer honestly.

Godfather

Dr. Amir said...

Dear Readers,

If you want to know why GE13 is pending, it is because Felda has yet to be listed? UMNO is waiting for this cash cow return and it will be invested for their use to throw as much as possible to the public, especially in East Malaysia. Vote buying spree in the east.

Prove me wrong Robk Bru? Tell us what is the benefit for the settlers in terms of monetory gain?
Once listed everybody is free to buy the shares in the open market, with no limitation from local to abroad.

In very short time, with poor management and greed the shares will plunge leaving the settlers damn poor and losing everything.

We have seen MAS, Proton and many other government listed public company all go banana.

Anonymous said...

mazlan aliman should be appointed as Minister of finance for Kerajaan Pakatan Rakyat if they win GE13..So good for all malaysians

Anonymous said...

He has to bribe people to trust him and he has to devide the Malay and Non-Malay to stay in power.

BL

Anonymous said...

Felda adalah Cash cow. Dalam Malaysia company yg masih 'cash rich'adalah Felda. Penolakan oleh mereka bukan disebabkan pro-pembangkang. Felda selama ini masih gagal membuktikan ketelusan serta integriti proffesional. Byk tindakan Felda menjadi persoalan seperti revenue RM40 B margin untung hanya 2B. Pinjam pulak lagi 6 B dari EPF. Kebanyakan business intiti yg teraju oleh politik kesudahan hancur. Felda hanya satu saja harta yg tinggal. Felda perlu menunjukan 'integriti' serta ketelusan utk mendapat kepercayaan. Semmg nya business itu memerlukan kepercayaan.

FMZ said...

Assalam,

Isu penyenaraian FGVH ini harus merujuk matlamat murni almarhum Tun Razak, ayahanda PM Dato Seri Najib di mana beliau merintis jalan kepada rakyat terutamanya Bumiputera sebagai kaedah meningkatkan taraf hidup rakyat dengan prinsip "job for the jobless and land for the landless", selain menjadi strategi menangani komunis.

Jika penyenaraian ini diteruskan, komuniti Felda ini dibimbangi akan kembali "jobless dan landless" sekiranya pegangan mereka dalam bentuk saham kelak akan dijual bagi mengaut keuntungan harga saham yang melambung kelak. Secara automatik, pegangan tanah mereka akan terlepas selepas penjualan saham, apa pula nasib mereka selepas itu dan juga nasib generasi kedua dan ketiga yang turut berhak atas tanah diusahakan datuk dan bapa mereka dulu.

Jangan korbankan masa depan mereka dan jangan kuburkan impian murni almarhum Tun Razak.

Saya percaya, ada kaedah lain yang lebih baik dalam memacu pembangunan Felda untuk lebih berjaya, selain strategi menangani "komunis politik" semasa.

FMZ

Anonymous said...

cimb will be the biggest winner..wanna bet?

Anonymous said...

Bru, Bru,

Make sure you get your facts right. "In Najib we trust" Yeh! as long as he is P.M. and alive. And for that matter I'll never trust any living soul; only the Almighty.

Donplaypuks® said...

Soon after the SD merger saw its pre-merger combined price of about $24 per share slide to below $10, rumours began to swirl that the entire merger promoted by Chimbank for fees exceeding $500 million, was done to mask the $3-4 billion losses of SD in the Middle East.

The rumours proved to be true and SD's CEO was eventually sacked even though it was obvious much of it was national service approved by the BoD & its Chairman, Black Musang who is still there today!

It looks like the listing of FGVH is being promoted with indecent haste for the same purpose as SD - to mask huge losses in the USA. When the consolidated accounts of the various component companies of FGVH is prepared, much info will be lost in the enlarged pie.

dpp
we are all of 1 Race, the Human Race

Lee said...

To go ahead with the proposed IPO is a mistake!The settlers' interests
should be the main concerns.The interests of "others" to become
rich should not be at the expense of the settlers....the dividends that they used to get and the risks that they will have to bear if the listing go through!

Anonymous said...

very evil.

BL

Anonymous said...

another piratisation project to suck the rakyats blood...the cronies will get multi million dollar shares then sell and become multi millionares..finally the felda settlers will suffer with whats left over..the govt has to do this before the elections....
the govt will always say it is for the benefit of the rakyat but see what happened to all the projects..
finally the rakyat will pay someway or other....never trust them...!
rakyat

Anonymous said...

Mr Brew,
How the acquisition of KPF share in FH by highly indebted and loss ridden FGV to be paid by issuing its shares to KPF will benefit the settlers and KPF members is a real mystery. KPF members could realise the gain if they dispose off the shares, and only if the FGV shares prices escalate in value on the stock market after listing. That is a gamble. Today the KPF member are already enjoying annual dividends, at rates better any corporation in this country could ever declare. With poor performance records of FGV, it is doubtful that it could declare a decent dividend after the takeover.
Who will really stand to gain? We all know. That is why UMNO Baru is so stubborn to take the settlers to the cleaners.

That is how the next generation Malays will form the reverse wave of "PATI" to Kerala, Myanmar, Indonesia or Vietnam - because their ancestors have been robbed and hoodwinked by their leaders

Anonymous said...

Rocky!
It shows the world is no more flat and jurrasic....People are no more suckers and they have eyes, ears and mouth....of course they dont have that cow brain to think..
They know what this GFN Jibbly is up too....trying to hitch a ride on the settlers' hard work.
No mater how they pusing here or change names or methods nobody believes him....
Hell! its their fcuking money and who would think trusting the PM ?
Its like asking the cat to jaga the chicks !!

Anonymous said...

Yes, we should trust our money in Anwar Ibrahim and Lim Guan Eng.

Godfather