Please also read Miss Ooi Tee Ching's
Weak palm oil prices
to understand better why FGV is not doing so well at the moment.
I had a conversation with a prominent blogger who is among those rebelling against PM DS Najib Razak a few weeks ago.
One of the questions I posed to him was why he has yet to attack Felda Global Ventures (FGV) which performance has been rather poor since announcing its initial public offering (IPO) in May 2012.
FGV is after all an easy target because over 90,000 out of the about 113,000 Felda settlers nationwide are holders of its shares which value had nosedived since it was listed.
Attack FGV and make it suffer, and there should be a Felda settlers uprising against Najib.
"I can't do that. I don't want to hurt the settlers," the prominent rebel blogger said.
"It may help bring down Najib if we harp on the poor performance of FGV but by doing so we would also be dragging its shares further down and ultimately caused sufferings to the settlers.
'In fact, because of that, if I can help improve things for them, I would do so even if it means harder for us to topple Najib."
I have to admit that I'm not an expert in analysing economic issues such as the one affecting FGV, but I do understand the sentiments of the rebel blogger and agree with his stand.
If we are at war, we must be mindful not to inflict too much collateral damage. That's for me is quite important if we intend to maintain the moral high ground in our struggle for what we believe to be a nobel cause.
As for FGV itself, I think there must be a point where there will be a turn around of its fortune.
The signs are already there despite the still rather lackluster performance.
I saw this story last night,
and told myself that maybe it's not all very bad.
As pointed out in the story,
It's probably the initial sign that FGV has been doing the right things to arrest the slide which was also highlighted in the story.
FGV boss Datuk Mohd Emir Mavani Abdullah was quoted as admitting that its annual revenue as compared to the same period last year has declined by about seven percent to RM6.9 billion while net profit was even worse for sliding by 69 per cent to RM145 million
I can accept Emir's explanation that it's not entirely FGV's fault that the company has not been performing very well as it was impacted by the current negative trend of the world commodity market.
I'm also okay with his explanation on what were being done to improve things and their results so far. Please click on the link to the story above to learn more about it.
I think FGV does needs time to win back lost ground and do well.
Malaysians should give it a chance to do so,, especially for the sake of the settlers.