Seperti dijangka, saham perladangan kebanggaan perdana menteri Najib, Felda Global Ventures Holdings (FGV) terus merudum pagi ini setelah disemak setakat jam 11:12 pagi tadi.
Saham tersebut menjunam 7 sen lagi kepada RM4.70 berbanding harga penutup RM4.77 pada Jumaat lalu.
Kejatuhan besar ini paling ketara sejak ia berada pada tahap bawah paras psikologi RM5.00 pada Rabu lalu ekoran pelabur semakin menjauhi kaunter yang kununnya terbitan kedua terbesar di dunia tahun ini selepas Facebook di Amerika Syarikat.
Dijangkakan lagi, saham FGV ini akan terus mencatat kejatuhan ketara sekiranya tiada tindakan susulan menyuntik dana besar ke dalamnya seperti yang dilakukan akhir bulan lalu.
Belum ada pengumuman rasmi oleh pengerusi Felda, Isa Samad berhubung perkara ini kerana alasan kenaikan dan kejatuhan saham FGV adalah perkara biasa katanya.
Bagaimanapun, setelah turun di bawah paras RM5.00 tiada sebarang trend kenaikan berlaku sebaliknya ia terus jatuh menjunam tanpa disokong pembelian spekulatif seperti kebiasaannya.
Para peneroka Felda kini cemas kerana sekiranya ia ditutup di bawah RM4.65, mereka akan rugi besar dan bakal menanggung kerugian kerana terpaksa membayar hutang bank termasuk faedahnya sekali.- jalanpulang1978.blogspot
FGVHB: Bukti peneroka dikhianati makin terserlah
10 Sep 2012 02:37PM
Prices delayed by 15 mins.
Prices delayed by 15 mins.
Last Done 4.700 (-0.070)
|Buy Volume ('00)||4,792|
|Sell Volume ('00)||711|
Saham FGV merugikan peneroka...
Persatuan Anak Peneroka Felda Kebangsaan (ANAK) mendakwa peneroka yang terpaksa membuat pinjaman bagi membeli saham Felda Global Ventures Holdings (FGV) kini mengalami kerugian.
Pengerusinya Mazlan Aliman mendakwa, pengurus bank yang dirujuk persatuan itu menyatakan bahawa harga saham pada RM4.70 merupakan had di mana peneroka akan mula mengalami kerugian.
Penasihat ekonomi ANAK Rosli Yaakob pula menjelaskan perkara itu disebabkan dividen pada tahap harga berkenaan tida mencukupi untuk menampung pinjaman yang dibuat peneroka.
"Kadar faedah untuk pinjaman yang diperolehi bagi membeli saham tersebut pada harga RM4.45 adalah lebih mahal daripada dividen," katanya.
Ketika laporan ini ditulis, harga saham FGV berada pada tahap RM4.70.
Harga tawaran awam permulaan untuk institusi ditetapkan pada 4.55 manakala harga runcit ditetapkan RM4.45.
Rosli menjelaskan bahawa apa-apa keuntungan tidak mencukupi untuk menampung pelbagai yuran pemprosesan untuk membeli dan menjual saham tersebut, terutama jika peneroka tersebut hanya memegang sebanyak 800 unit.
Katanya, Felda membuat penyenaraian awam itu dengan tergesa-gesa dalam keadaan pasaran saham yang tidak sihat.
Malah, sebanyak 52 peratus daripada ladang sawit Felda terdiri daripada pokok tua, katanya.
"Semasa penyenaraian, Felda berjanji bahawa FGV akan mempuyai rakan kongsi strategik, tapi kita masih belum dengar apa-apa daripada mereka sejak itu.
"Kebanyakan daripada pemegang saham adalah institusi kerajaan atau badan pengurusan dana asing," katanya," katanya.- malaysiakini
Felda settlers losing money on FGV shares...
Felda settlers, who were made to take loans to buy Felda Global Venture (FGV) shares, are now suffering a loss, according to PAS-led pressure group Anak.
"According to bankers we have consulted, RM4.70 is the threshold where settlers will begin to (lose)," Anak chairperson Mazlan Aliman claimed at a press conference at the PAS headquarters this morning.
Elaborating, Anak economic advisor Rosli Yaakob (left) said this is because the dividend at this price would be insufficient to cover the interest on the loan.
"The interest rate for the loan obtained to purchase the shares at RM4.45 is now more ‘expensive’ than the dividend," he said.
At the time of writing, FGV's share price was RM4.70. The company's initial public offering institutional price was RM4.55, while its retail price was RM4.45.
Rosli explained that any gain would be insufficient to cover miscellaneous processing fees for the buying and selling of the shares, especially since the settlers only hold 800 units each.
He said Felda had rushed the public listing in a unhealthy market, noting that market analysts have noted that 52 percent of Felda's oil palm plantations comprise old trees.
"During its listing Felda had promised that FGV would have strategic partners, but we have not heard anything about them since. Most of the shareholders are government institutions or foreign fund management bodies," he said.
Police summon Mazlan
Mazlan also said he has been summoned to the Sentul district police headquarters this afternoon.
He is required to give a statement on a protest he had led to the national palace on July 14, against the FGV listing exercise.
Mazlan (centre in photo) said he had been receiving calls from the police since last week, but had refused to comply with the request.
"I said that the rally was peaceful and that nothing illegal had happened. So why do they want to call me up?
"But yesterday I received a notice which was sent to the PAS headquarters. (It stated) that, if I do not present myself at the police headquarters, they will issue an arrest warrant against me. (So I will go.)”- malaysiakini
Losing ground over FELDA...What is happening to FELDA now, illustrates the state of our democracy under Umno. Settlers and employees got 200.6 million of the 2188.9 million shares to be sold. The people representing the majority and overriding interest are the settlers and the employees.
There are 112,635 settlers and 3835 employees. These represent directly the interest of FELDA people. They are the majority on whose backs and on whose name, this listing was supposed to be done for and benefits meant.
A question to FELDA people. Why get only 200.6 million out of the 2.188 billion shares offered and own the same from the 3.6482 billion of the enlarged share capital? That’s 5.5 per cent of the interest in FELDA. What Najib Razak and the government are doing to you is just cosmetics.
Because you are 116,470 strong you are bribed with RM15, 000, RM380 duit raya, 810 shares worth RM3685 at listing and that your sons’ and daughters’ PTPTN are being paid by the government using money that belongs to YOU. Najib will do anything to keep you corralled and addicted to the cocaine of handouts.
A question to Najib. If settlers represent your vanguard in the agenda to transform the economy, why assign only 5.5 per cent of the enlarged capital? Why not allow FELDA people through their KPF, own 70 per cent? Because minority and moneyed classes control the actions and decisions of FELDA and the same with government.
So what has the FGVH issue got to do with the state of democracy under Umno? It illustrates that special interest groups determine our democracy instead of the wishes of the majority. The listing of FGVH has more to do with the agenda of the moneyed class than the agenda of the un-moneyed settler class.
Similarly the same is happening to the state of democracy under Umno. The country’s future is being determined by special interest groups who are self-selected and thrive on a single chosen issue.
When the FGVH shares rose up to near RM6 per unit, everyone said that was a testament of the confidence people have with FGVH. But who are the people exactly? The “people” a nebulous and hazy term which could be infused with whatever meaning one wishes, refers to the various state governments that were asked to buy the shares and the various GLCs that Najib directed to buy FGVH’s stocks.
More important, the “people” are really the moneyed and special interest groups. And, of course, Najib alone represents the people and naturally he wasn’t shy to pat his own back. He must have been an accomplished contortionist.
Now that the price has gone down to around RM4.78, everyone who previously jumped up and down, says that the normal course in share trading. Going down is part of the normal course, but going up is taken to mean much more?
Our take is this: Going by the logic of the majority of us with only weak school certificates to vouch us by, the reduction in price, must be testament to lack of confidence. If the trending is more downwards than upwards, then lack of confidence is the stronger force.
We are not confident FGVH will take settlers to new heights nor are we confident Najib, Umno and BN can take our country to new heights. Najib’s only strategy in economics is to give out money, here, there and everywhere.
Right from the beginning, the listing of FGVH and the choice of the vehicle for listing of FELDA’s business interest was questionable.There weren’t any settlers’ rep on its board. FGVH does business mostly overseas. Its business record was far from good or sufficiently good enough to inspire confidence that it can bring FELDA to new heights. It incurred continuous losses in its business most of the time and only made spectacular rebound on the profits near the listing date.
FGVH may not do this, but we have heard of many cases where companies en route to listing cooked up the numbers. Most of its profits came from the portion it owns in FELDA Holdings. Now what does FELDA Holdings do? The business done by FELDA Holdings is its brick and mortar business — planting of palm oil trees and selling CPO to the world. It wasn’t anything bordering on rocket science that seems to be preferred by FGVH.
FGVH wasn’t managing FELDA Holdings’ business. It was managed separately. If FGVH was managing FELDA Holdings and the company made profits consistently, then we can argue that perhaps, the profitability was due in part to FGVH management quality.
The facts are: FELDA Holdings made profits, its management was better. FELDA Holdings would be a better choice to buy out FGVH shares in Holdings. With FGVH out of the picture in Holdings, the other owner of FELDA Holdings — the KPF, representing settlers and employees’ interest can own 100 per cent. KPF, who then owns 100 per cent of FELDA Holdings, can hire a management company that can bring in more profits.
It was just paper shuffling. Ask investment bank A to come out with a proposal, it comes out with one that promises an initial listing price of RM5. Ask investment bank B, it comes out with a price of RM6. Hey, investment bank B is better. A higher initial offer price means more money for the backroom boys. Those who have not soiled their feet in the plantations and perhaps may not even see a palm tree before.
Now that the price is going down, Najib is doing all the firefighting. That is the reason why Najib announced that FELDA is financing all the 91.2 million shares. He has read the writing on the wall. If he doesn’t finance the settlers, they will go up in arms. At stake are the 50 over seats in FELDA areas.
At RM4.55, FELDA will spend RM41,496,000. That’s RM41.496 million. It is a small sum to appease the 112, 635 FELDA settlers. And now has just up the ante, he says FELDA will pay all PTPTN loans of settlers’ children. We don’t know how much.
A number of inferences can be drawn from that. The fact that Najib has to continuously bribe settlers could mean support from settlers isn’t that solid. The additional fact that Najib has decided to finance the FGVH transactions and now pay for the PTPTN loans taken by settlers’ children can only mean that indeed support from the FELDA people isn’t as solid as he would want everyone believe. Najib’s every move now reveals his true character. He hasn’t got a well thought-out plan and instead he makes it up as he goes along.
I have to repeat myself: The settlers were supposed to buy the share with bank loan that came with a RM200 processing fee and a 5 per cent monthly rest. If I am not mistaken, the loan was supposed to be repaid in 6 months.
Otherwise imagine this. The settlers who have held on to their 810 shares must pay 810 x 4.55 = RM3685.50 plus RM200 processing fee. That is a total of RM3,885.50.
If they now sell at RM4.78, they earn RM3871.80. Each settler who now sells loses RM13.70.
That’s chicken feed. But RM13.70 loss represents the anger of one settler. And there are 112, 635 of them. If each settler family has 4 voting members, that will represent 450,000 angry voters.
So it is as I have said from the very beginning. FELDA and Najib were selling an abstract idea formed from illusions and unclear business strategy. It’s just paper shuffling designed in the end to enrich holders of large chunks of stock, the investment bankers, the hordes of consultants.
What new, ground-breaking businesses are offered by FGVH? Nothing other than planting more oil palm and opening up more estates. That’s, the very same business that has been done quite well by FELDA on their own without FGVH. You change the management, tweaked here and there giving the impression that FGVH has evolved into something super. It’s all a corporate BS.
FELDA got RM10 billion. Najib gave FELDA RM5.99 billion. Where did the balance go? Most probably as promised by the FELDA CEO, the money went to the minister in charge of FELDA: Najib himself. The PMO got almost RM4 billion to play around to implement the principal economic strategy of Najib — giving out money to buy votes and allegiance.
Let’s see how votes bought stand up against votes given because of beliefs and convictions. — Mohd Ariff Sabri Abdul Aziz.@sakmongkol.blogspot.com