Thursday, April 19, 2012

Felda settlers give IPO a big nod at EGM

VOTE COUNT FOR/AGAINST FELDA KPF Extraordinary General Meeting
Dewan Perdana, Felda Headquarters Kuala Lumpur

1,102 FOR

   120 AGAINST
Clearly, an overwhelming majority of Felda settlers and staff (89.8 per cent) want the IPO to happen. At their Cooperative's EGM today, their delegates finally defeated repeated attempts by outsiders, led by politicians from Pakatan Rakyat, to scuttle the proposed listing, which is designed to give 112,000 Felda settler families a greater say in the running of a more global Felda. The listing of Felda, first proposed by Dr Mahathir Mohamad in the national budget in 2003, was given a new lease of life by Najib Razak as soon as he became PM 3 years ago. Anwar Ibrahim's coalition have accused Najib of trying to use the proceeds from the IPO to give business to crony banks and brokers. The Felda IPO will be one of the biggest the country has ever seen.

There were 5 spoilt votes and 15 ballots were not returned.

25 comments:

Anonymous said...

woi Rocky..you mean vote count by SPR ?? patutlah dapat majority !!

Anonymous said...

ada pengundi hantu ???

Anonymous said...

Mr Rocky...

Maybe off-topic but was told this evening that a certain "senior" minister is expected to send his resignation letter to PM by Friday (cabinet meets on this day during parliament session) ...

He seems to not be able to convincingly deflect The Storm which has blown over in the blogs, including some pro-umno blogs over his indiscreation with a starlet...

He has a hobson choice -- to admit the starlet as his second wife of 3 years or deny any involvement (which is untenable due to a certain police report by a driver on his payroll) which tantamounts to admission of haing an illicit relationship with the starlet.

Admit awak kawen dua and the first wife, a big size datin will frown on you and you are finished or deny ethe marriage and risk of allegation of zina with the starlet -- his hobson choice...

The story is already brewing around the blogs...already bloggers smelled blood with (1) monday...his crony a certain datuk was charged in the courts with cbt while serving as ceo of yayasan pelajaran mara and (2) tuesday his crony in semporna tipu-tipu malaysia when building a certain housing project in kg ayer there and one of the house collapsed intonthe sea causing the life of a homemaker...all because his crony shortchanged fekcra the implementing agency...

Yesterday the minister himself alleged by fellow opposition mps in parliament as to have been giving zakat to a certan starlet...

First it was SHAhrizat jalil...now its SHAxx ...

Anonymous said...

It is as obvious as daylight that the opposition is hell bent on destroying any proposal that will benefit or improve lives.

All they want is chaos, poverty, famine, racial wars and anything to that tune.

Don't believe? Just ask them to run amok in the streets and they are more than willing to do so. Ask them to buy candles and they will buy the whole candle factory.
Ask them to ride bicycles and disrupt traffic and they will gladly do so.

But ask these seekers of injustice to open their eyes and they will claim they are blind.

I have long given up on these useless slogan shouters. Trouble is, many of these lame brained followers 'sudah kena nasi pengkangkang'.

A GOOD MAN DOES NOTHING.

eddy said...

Finally common sense prevail.

Anonymous said...

I hope for the sake of the settlers, this won't ends up in tears... may god bless them...

Anonymous said...

woi.anon 2:47 naper cakap pakai anus!

Anonymous said...

Biarkan luncai dengan labu-labunya.

Anonymous said...

Dah agak dah....

Anonymous said...

Di Malaysia ni, orang Majoriti yang kena dengar dan hormat orang Minoriti. Yang ironinya, orang Minoriti inilah yang sibuk pasal demokrasi. Dia tak tahu ke yang demokrasi maksudnya suara majoriti. Kalau orang Majoriti setuju, orang minoriti kena diam lah. Kalau dah kalah undi, buat cara kalah, bukan sibuk cakap undi hantu dan lain-lain. Sama je dengan kes Kerinchi tempoh hari, sebab golongan minoriti, yang majoriti terpaksa tunggu 2 tahun untuk projek bermula. Yang sebenarnya golongan ini memperjuangkan autokrasi (minoriti atas majorit) tapi pakai lambang demokrasi.

bob villa said...

Dato Rocky, is Helen Ang site is being hacked? ,site system hung/ frozen no new comments or contents are appearing.

Any other website managed by her?
Thanks

Anonymous said...

can't wait for my pink form!

Anonymous said...

Bro, i glad that there are blogs that sometimes just print the facts as they are..you are one of them. M'kini always twists and turn things insuch a way that people now days check Star,NST,Nanyang, Sin chew, Utusan and Berita harian on line to get the balanced view..If we had just bought what M'kini has been saying about the Majority of Felda settlers not wanting the IPO-this vote has proven that M'kini's credebility is only about 10%..

Anonymous said...

BN 1 PR 0

-Rabbit

bourne identity said...

Those mangkok Pakatan Riuh people led by the arse-loving Anwar should make a walk after walk through every FELDA settlement and feel what these settlers want. Only then these mangkok hayuns will understand.
But Id advise every FELDA settler to hide their handsome young sons from that arse-loving Anwar first...

Anonymous said...

good for FELDA and the people. good luck

Anonymous said...

Alamak, the gap between the rich and the poor will surely widen after this shameful episode. Isa Samad is laughing all the way to the bank because of the pictures in his possession regarding a certain TV3 newsreader in Port Dickson long time ago.....

Godfather

Anonymous said...

Tahniah pada orang felda. Boleh blanja kami sikit? Moga2 semua diberkati Allah dan bertambah rezeki.

Anonymous said...

Finally wind of change in the mindset of the malays! Keep it up until the GE 13. Matilah hang DSAI!

Mustapha Ong said...

Bro,

Those who are against the listing of FELDA are so stupid as any IPO listing will bring in the money in a big way and will benefit the settlers. I wish that I am one of the Felda settlers and look forward to better days ahead.

If other GLCs could do such IPO listing and inject huge financial returns for their business, why can't FELDA do the same without any illogical reasons and without any interference from any politicians from both sides of the political divide.

The BN government and Ethos being the FELDA consultant benefit should not be viewed with suspicion,in whatever effort and consultancy advice rpovided are proper and within the law and rules of our financial regulars, including Bank Negara.

Anonymous said...

So says an umno stooge.

Anonymous said...

Do u even know how to count?

Old Fart said...

Well, if I too was a Felda settler, I too would vote for this. After all I still get to keep what is mine. My savings and/or subscription with my cooperative still remains intact and I can withdraw when ever I want. My cooperative has interests in a number of operating companies which are being over-valued in the take over by FGVC. That is fine. The cooperative used to receive the odd dividend from these companies, in future, it will come from FGVC. And what is best, there are these 376,000 hectares of palm oil which is not even owned by our cooperative or any of us. That belongs to Felda authority, actually the government's one. The idiots are pumping that into this FGVC for a lease of 99 years for an annual rental of RM500m. This the sily authority will use to continue to sustain our villages, schools, roads, houses, and even subsidise our fetilizers that we use in our own 10-14 acres of land. Now, remember, we don't really deserve this, but we are going to be 37% shareholders though our cooperative. (Of course we hear that they could con-us by giving us Preference shares with a fixed dividend rate). But the real cake is they are going to give each one of us something like RM30,000 apparently just before the next elections. And what are we giving up for this? Nothing! You got some silly corporate types who think they are so clever. But then again we know that there are about 50 parliamentary seats that is determined by our votes which has always been an UMNO vote bank. I guess that is where the trade off is. Of course you give me RM30,000 for absolutely no reason, (well, you say that we have "sold" our interests in some companies and this is compensation for it. Sure, all this can happen when something that is worth RM2 billion, you inflate its value to RM5 billion and you pay us the RM30,0000 each or whatever). We can only but laugh at the rest of the Malays though. Kesian them. Why are we so privileged?

Jasper Bloodstone said...

Meanwhile, Khazanah is planning to list Integrated Healthcare Holdings in an estimated US$1.5 billion IPO on Bursa Malaysia and SGX dual listing.

Expect the cool maruah intellects and the gnomes of Utusan Malaysia to vent their outrage over this.

And let's see if the Pakatan Rakyat intellectuals will mount a demo against the Khazanah initiative.

As it stands, the investment banks involved will reap a tidy sum in advisory fees. As will the lawyers too.

easymaths said...

The IPO listing is another pinjam exercise by Nazir and investment banker cronies to reap commission.

Nazir has pinjam Sime Darby Golden Hope etc for merger exercise to create the largest plantation company in the world.

Now with his brother Najib will create another largest plantation company in the world! hehe...

So some little benefits may trickle down if any. Why Felda nees to raise money through IPO if they want to go downstream or upstream?

All the cash in Maybank a GLC can be obtained easily. 11 billion for Kencanan and Sapura.

Don t tell me Maybank cannot creat a SPV to give 10 billion to Felda.