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.
ORIGINAL POST
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,
FGV recorded better revenue and profit in Q2
and told myself that maybe it's not all very bad.
As pointed out in the story,
Amidst the bearish crude palm oil (CPO) market, Felda Global Venture Holdings Berhad (FGV) managed to record a better performance in the second quarter (2Q15) of this year compared to the first, with RM4.2 billion of revenue and RM103 million in profit after tax and tithe.
In the first quarter, FGV had RM2.7 billion in revenue and RM30 million in profit.
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
He attributed this mainly due to lower average CPO (crude palm oil) prices and higher CPO production costs of RM1,468 per metric ton compared to RM1, 449 in 2014.
“The decline in revenue and net profit is expected as we continued to be negatively impacted by tough market conditions and business environments. Average CPO prices have reduced by 15 per cent from RM2,648 per metric ton to RM2,251 per metric ton in 2015.”
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.
You are bull**** like Najib and his klentonging merrymen. Really pity the settlers who are coerced to buy FGV shares. The settlers have only one chance, and it's gone. Many have spent their life savings or take huge loans. They will carry their losses to the grave. The loans will have to be inherited by their childrens. The scheming men are laughing all the way to the bank. The foreign currency hoards safely stored abroad makes them very rich. These riches will be the burnjng irons that will be placed on their back in the hereafter.
ReplyDeleteExcuse me but FELDA has paid off the bank loans for the settlers. Now FELDA is collecting only RM50 from the settlers each time to deliver FFB to the mills. The loss that you are saying is just paper loss and it will only be realised if the settle(s) sell off their shares. The best that they should do now is to hold on to the shares until the prices recovers in due time. Besides they have got nothing to lose. Please get all your facts right before commenting negatively. You can verify my points here in numerous newspaper articles that have been published or better still, come directly to Menara Felda and ask an officer.
DeleteFGV price to recover?
Deletegood luck
Lu apa cerita ni bro...
Deletebayo $50/bulan for nothing..
Obviously the IPO price was over price. Now for peneroka it is pity that they end up a loser. Nobody know when the price can get back to debut price. A lot of misleading from the chief bangsat.
ReplyDeleteDestorying Felda will be the Bugis Warrior's greatest legacy. Poor settlers. How to save them?
ReplyDeleteStop commenting in this blog would help...
DeleteShalelalela
Fine la,
DeleteBagi chance banyak2...
Itu peneroka how many chances they got?
At pru time you janji them bulan bintang...
Now when drop you mau chance...
Cibai bangsat
Adoi , kenapa la nak pusing sana pusing sini cerita wahia annie , sekarang ini apa yang penting adalah isu integriti dan amanah seorang pemimpin yang jelas dan terbukti sudah menyeleweng , sejak pemencatan mantan AG Gani , pembatalan task force , kezaliman keatas SPRM , bekas pegawai AG dan Bank Negara serta penyingkiran mantan TPM sudah jelas Najib sudah hilang integriti dan amanah , walau pun sebelum itu bermacam macam dedahan penyelewengan dibuat keatas Najib dan kuncu kuncu nya dalam 1MDB tiada diberi jawapan pada soalan yang ditanya tapi isu RM 2.6 billion dalam akauan Najib membawa imej menyeleweng yang jelas , Jadi tak payah la nak bawa lain lain isu kerana , apa yang berlaku sekarang ada lah puncanya dari Najib yang diperingkat dunia sudah terkenal sebagai seorang tidak amanah dan menyeleweng sama seperti pemimpin zalim di afrika dan negara arab . Apa pun yang berlaku adalah berpunca dari Najib dan punasihat yang lemah dicampur dengan kuncu kuncu yang merosak kemudian diburukkan lagi dengan isteri yang bernafsu besar dan boros dan disertai oleh menteri menteri dan pembesar umno yang berimankan jawatan/kedudukan sehingga merosakkan umno , jadi tolong faham . Sesungguhnya orang melayu masih menyokong umno tapi tidak menyokong najib dan kuncu kuncunya , dan pemimpin pemimpin umno yang membawa kekalahan besar pada PRU 14 nanti adalah orang yang paling bangsat ,kerana membangsatkan umno jadi jangan salah orang melayu kalau umno kalah .
ReplyDeleteYou are bullshit just like najib...obviously you r still supporting this moron,can't u see the damages to this country that had been created by this corrupted people...shame on you annie!!!rakyat are suffering n you still dreaming
ReplyDeleteYaa lorr , lakyat mendelita maa aa , linggit tulun ,saham tulun ,itu balang naik tatak mau tulun-tulun maa aa ,apa macam lor rr .
DeleteLulu itu kichap manis eaa aa ,500 ml sebelum GST RM 3.20 ,sikalang RM 5.75 , bawang melah RM 6.00 sikalang RM 11.00 ,lagi mau celita tatak bolih habit maa aa .
Apa macam miskin punya olang mau hilup ,ikan kembung sikalang sutak RM 19.00/ kg ,miskin punya olang apa ikan lagi mau makan maa aa .
Lakyat halus bijak mengunakan kuasa pembeli ( menteli cekap) ,semua balang naik apa mau makan maa aa .
Itu Uncle Lim cekap eaa aa ,itu UMNO (United Morons National Organisation) , Wa ingat atak betul juga maa aa , makan tatak cukup apa macam mau bijak pilih itu pemimpin lea aa .
Annie Mangkuk (AM), give FGV a chance……...to drop to 10 sen?
ReplyDeletep/s Inilah yang dikatakan oleh PM bacul Najib, bangang punya blogger!!!
PM mangkuk, AM pun mangkuk. sama-sama mangkuk!!!
To stay invested in FGV and saddled with huge losses for a long time, one must have deep pockets. Do you think the peneroka can afford it? How long do you think FGV could regain it's former price? From the charts it looks like a steep climb up. The gomen is fooling the very people who voted them in every 5years. They should have cut losses a long time ago. And you Annie, have you bought any shares on bursa? If not, better shut up.
ReplyDeleteNajib in 2012 called the group of settlers who opposed the FGV listing 'haram jadah' . He was very determined to get the listing done . Each settler dapat RM 15000 and allocation of 800 shares ( kena bayar ). Joy and glee for the settlers - never had it so good. Furthermore payment for 800 shares is bayaran beranur2 - RM 50 per month . Overall the settlers still has a net gain besides getting yearly dividends - so they are not complaining ..........
ReplyDelete800 shares is something like 'trustee share' per settler family.Settler land ownership is not affected as FGV leased the non - settler plantations .The earnings and performance of the Koperasi Permodalan Felda ( KPF ) will be impacted after being forced to sell off the 51% stake in Felda Holdings to FGV after the listing . KPF investors/shareholders are the settlers and felda staffs .......
DeleteMarket is market. Bloggers comments won't change the price.
ReplyDeleteFelda went public is a bad idea. But that is that, just a bad idea. Politicians should not be involved in business.Even if the business turns out to be profitable.
Lol
DeleteNajib must have the balls to change the CEO......who has made a lot of poor decisions that caused FGV shares to suffer. So now Emir blames the World Commodity markets but every player knows that during his time, FGV bought plantations way above market price that even Sime Darby n IOI dare not offer. Not to mentioned that earlier he was picked up by SPRM for investigation on kick backs. EPF had also sell down FGV shares due to the incompetency of Emir, now latest is Eagle High.....who on earth pays money 20% upfront just to do a due diligence?
ReplyDeleteKWAP and EPF sold down FGV shares all these while.
Delete