FGVH’s shares are expected to be listed on the main market of Bursa Malaysia Securities Bhd on 28th June 2012.
Under the IPO, FGVH would offer up to 2.19 billion ordinary shares to Malaysian and foreign institutional investors including Bumiputeras approved by the Ministry of International Trade and Industry as well as retail investors as reported on FGVH’s prospectus (http://www.bursamalaysia.com/website/bm/listed_companies/ipos/prospectus/index.jsp)
According to Benama News (http://www.bernama.com.my/bernama/v6/newsbusiness.php?id=670018) as reported on 31st May 2012, FGVH IPO listing offers 10.8% of shares (395.6 million shares) to State Governments. The UMNO led-BN government should grab this opportunity from this exercise to benefit the 55,000 SAS investors which for sure will also indirectly to benefit the people of Sabah whereby most of the Felda downstream and palm oil business activities are in Sabah with the possesses of more than 250,000 acres of oil palm plantations in Lahad Datu, Sabah alone, rather than to let this opportunity be grabbed by other state governments which does not even possess any Felda oil palm lands at all.
For example, Petronas Chemicals, a diversified chemicals maker, rose to a high of RM5.72 before leveling off at RM5.52 on the first day of listing on 26, Nov 2011, up about six per cent from the institutional offer price of RM5.20, while the broader market was flat. Retail investors paid RM5.04 per share in the IPO. Petronas Chemicals jumped as much as 10 per cent on its stock market. SAS could easily benefit from this exercise, Clement Lee said.
If the UMNO led-BN government failed to capitalize in this exercise which will further proven again that SAS investment team which has appointed by UMNO led-BN government simply failed in value investing due to poor management planning, incompetency and lack of experiences by missing all these opportunities again and again.
Additionally, the injection of RM 200 million announced by Sabah CM, Datuk Musa Aman on 2008 into SAS whereby we still couldn’t see any impact and positive sign of recovery of SAS price after 4 years until today 2012. Clement Lee said.
SAPP is committed to solving this problem faced by the over 55,000 SAS investors that the UMNO led-BN government could not, even after 14 years. SAPP will issue the necessary White Paper to find out the root-cause of the downfall of SAS and reveal the truth to the public when we form the Sabah state government.
We will also assist to elevate SAS to its original value, or even let it appreciate higher, to a value it rightfully so deserves.
Anything benefits SAPP and this gentleman will be praised but if loss then will be blamed or ask to table white paper.
ReplyDeletePM today YAB Najib not likely to take such risk because of you or SAPP rather more to do for people first.
Now RCI has been pushed with TOR and PM has been noted to appreciate cultural value of his EASTERN BROTHERS AND SISTERS for making effort to unite all malaysian through Kaamatan festival in May as he mentioned in his 1Malaysia blog.
SAPP must think positive or may consider return from wilderness back to BN!
SAPP should have put things to rights during their term as government. Why wait till now?
DeleteThey only realize by this time. hope they're really sincere to fight for Sabahan rights.
DeleteIf BN has nothing to hide they should table the whitepaper.
ReplyDeletePM today YAB Najib not likely to take such risk because of the TRUTH that hurts BN will be reveal to the public.
Now RCI has been pushed with TOR after more than 25 years of waiting and announcing it close to GE13. It also takes about 46 years for BN Umno to recognise 16 September Malaysia Day as a National public holiday.
Do our EASTERN BROTHERS AND SISTERS be so gullible to think that BN really cares for them after making them the poorest two states in Malaysia ?
The whitepaper is not necessary, its a waste of time and money when the people already know the truth about SAS.
DeleteIt should already revealed if they know the truth.
DeleteIt is really a waste of time.
DeleteIf I were the fund manager, I shall not involve in the kind of business FGVH is doing for the time being. There is a fundamental change in commodities prices for the past week. It is good for the promoters to maximise at this stage but not the unawared investors.
ReplyDeleteWhat sort of unwanted investors?
DeleteSAPP said We will also assist to elevate SAS to its original value, or even let it appreciate higher, to a value it rightfully so deserves.
ReplyDeleteWhy didn't SAPP do it when they are the Sabah government?
Please stop trying to fool the Sabahans, we know what happened, there is no use to twist the facts.
DeleteNow they are in opposition side. it is different than while they are in government.
DeleteSAPP sengaja timbulkan hal ini untuk tarik sokongan.
DeleteSAPP is only building a castle in the air.
DeleteSAPP has been asking the corrupted UMNO to reveal the truth of SAS fiasco when they were in the government.
DeleteMemang betul TDM kata, orang umno mudah lupa.
Jika Kaki pengampu umno pandai menaikan harga SAS, sudah lama SAS naik ke RM1 tetapi sudah bukti mereka ini palui.
DeleteRIP UMNO in Sabah!
SAPP pandai menunding jari ke arah orang lain untuk menutup salah sendiri.
Deletekenapa SAS tidak naik selama 14 tahun nie? musa makan gaji buta ke?
Deletepelabur2 SAS semua tahu kerja RASUAH umno.
they only know how to talk but cannot do a thing right.
DeleteSAPP harus mengakui kesilapan dan membaikinya.
DeleteSAPP ini cuma tahu buat cerita saja. Tapi tidak sedar akan kelemahan yang telah dilihatkan kepada rakyat.
Delete"SAPP will issue the necessary White Paper to find out the root-cause of the downfall of SAS and reveal the truth to the public when we form the Sabah state government."
ReplyDeleteHow to reveal the 'truth' when SAPP will never form the Sabah state govt?
Are you indirectly telling me UMNO was involved in SAS fiasco?
DeleteYou think the SAS investors like us will still support the corrupted UMNO?
We will support SAPP this time to form Sabah government.
Kerajaan sentiasa membela nasib penereko secara berperingkat.
ReplyDeleteya ke? kenapa SAS masih 30 sen selama 15 tahun? musang bin tidak aman tidur ke selama 15 tahun?
DeleteKenalah mengambil masa bagi menguruskan perkara itu.
DeleteHarus sabar dan menunggu, kerajaan sedang berusaha.
DeleteThey should make things clear to the public.
ReplyDeleteWhy should they have to wait until now?
ReplyDeleteThe trust has a way of reveling itself.
ReplyDeleteSabahans are already aware of what is happening.
ReplyDeleteThings ought to be done right by putting them into action.
ReplyDeleteThe people know well what is happening.
ReplyDeleteKerajaan tahu apa yang terbaik untuk Felda. Ini satu usaha yang baik untuk masa depan Felda itu sendiri.
ReplyDeleteWhy should the peneroka Felda share their wealth with foreigners when Felda is already making huge profits for them. Pls explain?
ReplyDeleteya teruskan cuci tangan.. cuci bersih2 jangan ada tinggal sedikitpun daki.. nanti bila YTL naik jadi KM, mula la dia rancang bagi 500000 hektar hutan kepada kroni2nya dengan hak pemilikan selama 999 tahun..
ReplyDeleteMalaysian palm oil giant Felda Global is expected to buck gloomy global trends with its $US3.12 billion stock market debut o, in the world's second-largest IPO this year after Facebook.
ReplyDeleteThe volatile economic environment has forced the delay of other major offerings across Asia including a planned $US2.5 billion Formula One listing in Singapore.
ReplyDeleteBut Felda Global Ventures Holdings has already attracted a high-powered list of cornerstone investors, including the global investment arm of the Qatar Investment Authority, and analysts expect the momentum to continue.
ReplyDelete"I think it will make a strong debut," Kaladher Govindan, head of research at stockbroking firm TA Securities, told AFP.
ReplyDeleteOoi Chin Hock, a brokerage dealer with Malaysia's M & A Securities, said he expected an opening price of at least 5.20-5.50 ringgit ($A1.62-$A1.72), or a premium of up to 19 per cent from the IPO retail price of 4.45 ringgit.
ReplyDelete"It could strike an upside of up to 25 per cent," Ooi told AFP.
ReplyDeleteFelda Global estimated it had raised 9.93 billion ringgit ($A3.1 billion) from the IPO, which was heavily oversubscribed.
ReplyDeleteDespite the dark shadow that the eurozone debt crisis continues to cast over global financial markets, and the jitters sparked by Facebook's disastrous listing last month, analysts said Felda shares remained well supported.
ReplyDeleteFacebook raised $16 billion from its IPO but its shares have plummeted since its debut.
ReplyDeleteOoi said there could be some profit-taking for Felda Global, but the downside was "quite limited" due to strong demand from foreign investors who want to keep the commodity stock in their portfolio.
Felda Global, the world's third-largest palm oil plantation operator, is an arm of the Federal Land Development Authority, a government agency that provides land to the rural poor.
ReplyDeletePrime Minister Najib Razak announced the listing plan in October as part of a wider push to divest state-run firms and increase foreign investment in the Southeast Asian country.
ReplyDeleteNajib, who must call general election by next April, also hopes to curry favour with the more than 112,000 settler families who own part of the plantation land and stand to gain 15,000 ringgit ($A4,687) each.
ReplyDeleteSome settlers have opposed the listing due to concerns that the scheme may expose them to more risk and potentially rob them of their land.
ReplyDeleteBut analysts say the scheme will help Malaysia's $27 billion palm oil sector - the world's second largest - compete more efficiently with top producer Indonesia.
ReplyDeleteFelda Global currently sells palm fruit or crude palm oil and processed palm oil to third parties.
ReplyDeleteFunds raised from the listing will be used to replant mature oil palms and further expand into downstream businesses to create a more self-contained global player.
ReplyDeletePalm oil is a key ingredient in soap and a range of food products whose consumption is predicted to soar in coming decades.
ReplyDeleteFelda Global also produces rubber, cocoa and other agricultural products.
ReplyDelete"We are very excited as this listing represents a historical milestone for the Felda Group and signals the start of our transformation program to take us into the next 50 years," said Felda Global President Sabri Ahmad.
ReplyDelete"At the same time, it also means that the Felda Group is poised to play a bigger role in nation-building," he said on Monday.
ReplyDelete"Where before the government had helped Felda settlers to enhance their economic wellbeing, now it is Felda's turn, through business expansion, to give back to the country and help uplift the lives of other Malaysians, which also include the second and third generations of Felda settlers."
ReplyDelete