Felda: The smell of easy money (Part VI)

byDr R@28

Part 1: FELDA The smell of easy money

Part 2: FELDA The smell of easy money

Part 3: FELDA The smell of easy money

Part 4: FELDA The smell of easy money

Part 5: FELDA- The smell of easy money

• The smarts during a back of a FGV-KPF-FH restructuring have been great during selling stories. Their skills have been probably as great as a disinfectant peddlers during a night market. Being in isolation company, FELDA-A has refuses to have public their annual inform or a annual inform of FGV. The basic fact is which they it owes it to a taxpayers. we have been advantageous for knowing a organisation of people who wish to be identified as "Friends of Felda". They have been giving me report as good as documents which we need to write my post as good as to answer a little of a commentators. In a last couple of days TV3 has additionally been selling a story of how Felda settlers would good by interviewing pass pro-BN settlers in light of a upcoming KPF EGM upon Jan 5th, 2012. Unfortunately they never explicitly explained how a settlers would benefit. Their explanation is really grey. The approach we see it, they do not really know or they do not want people to know which they do not know.
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• FGV has been touted as a tellurian player as good as has been promoted using a media as a efficient organisation which would propel Felda as good as a settlers to greater greatness in a subsequent couple of years. The world is facing economic delayed down. Globally everybody talks about it as good as is receiving preventive actions. However a supervision is says which Malaysia will be fine. The settlers contingency conclude a reality. Their revenue is approaching to dump as a tellurian CPO price is approaching to alleviate in perspective of weakening demands in EU, USA as good as China. If they think FGV can do wonders we indicate they think again as good as think hard.

• Felda Global Ventures has 101 subsidiaries. Only 90 of a companies have been actively you do business. The rest have been either asleep or holding companies. Recently they entered a sugar commercial operation as good as boyant a association (MSM Holdings). They have been formulation to boyant another 4 companies within a subsequent eighteen months. In a past couple of years, a bulk of a increase came from Felda Holding.The other 89 subsidiaries have been in ubiquitous contributed waste or a little scanty profits.

• These have been a companies which everybody thinks as tall worth assets which FGV have been injecting in to a merger. If we can separate a land bank formed upon equity, a 49% share of FH can be translated in to 170,000 hectares. As during Dec 31st, 2010 FGV pretax distinction is RM366mill as good as during a same duration FH distinction is RM760mill. Going by a fact which FGV owns 49% of FH, we can pretence which would get RM372.4 mill distinction from FH is a entire 100% of a increase have been returned to shareholders. In being which is not a case.

• For a initial half of 2011, FGV chalked a turnover of RM1.98bill with a distinction of RM167.8 m! ill. Ass uming which their happening is good, than a increase for 2011 would be about RM336 mill. Again this would especially come from Felda Holding. Clearly, FGV has really bad lane record. The restructuring followed by IPO is merely an practice to support FGV bad commercial operation venture as good as "to feed a couple of personalities". The association would be in debt as good as a monetary opinion for a settlers after a IPO as good as listing looks bleak. Numbers do not lie. Based upon past monetary performance, we do not think KPF should support a scheme. FGV lane records have been extremely discouraging.