Buzz Sociopolitics Malaysia: FGV (Felda Global Ventures) listing: Corporate vs. Peasant Settler

FGV (Felda Global Ventures) listing: Corporate vs. Peasant Settler

December 26, 2011

http://sakmongkol.blogspot.com/

FGV (Felda Global Ventures) listing: Corporate vs. Peasant Settler Sakmongkol47

Two upcoming events have been waited upon with great anticipation: (1) The result of an claim application by the couple of settlers to stop the FELDA FGV inventory as well as (2) the Jan 5 EGM of Koperasi Permodalan FELDA (KPF).

The result of the second event is the foregone conclusion. Chairman Isa will get elected as the KPF chairman notwithstanding not having the qualifications to turn an bureau bearer. He is not the settler nor is he the FELDA employee. But the Minister in Charge of FELDA has since his approval, what can people do? The Minister is also the Prime Minister. He lords over whoever lives in this land. We must not be sidetracked by this sideshow involving the dual bit actress Isa Samad. The some-more pressing matter concerns the inventory exercise.

Why the Injunction?

Why the injunction? Why should 4 people extend appetite as well as time as well as pretence the risks of being called traitors as well as all that, want to request an injunction? Greed can't be the major objective? If it is, it's some-more profitable for the 4 people to side with Chairman Isa who can be inexhaustible as he is pleased.

The intent of the claim is to stop FGV taking over resources as well as shares belonging to KPF in FELDA Holdings. These people believed which 350,000 hectares of land which FELDA took was actually meant for settlers.

All the resources owned by KPF in FELDA Holdings will be leased to FGV for the subsequent 99 years. They will no longer exercise control over the resources as their interests have been all converted in to shares. FELDA Holdings is 51% owned by settlers as well as 49% owned by FELDA Global.

They have been willing to risk it all, because they hold settlers have been being sold out. This inventory is the ultimate shortchanging of settlers. The initial occurred when FELDA withheld some-more than 300,000 hectares of land from being since to settlers. By assuming tenure of the land, FELDA was able to turn the planter itself.

So we have the farmer settler as well as the corporate settler. The corporate settlers have moved upon to becoming fabulously abounding while the farmer settler (Tun Razak's regimented landless as well as jobless) have remained comparatively behind. They get to suffer the drip down goods defined as well as dynamic by FELDA which practically runs the commercial operation upon behalf as well as for the benefit of settlers.

The corporate settler sells CPO as well as busies itself in the wide range of downstream production as well as marketing activities. They were even able to go in to assorted businesses out of the collateral combined from tenure of the land which is supposed to go to the landless as well as jobless. The second took place, when FELDA listed its sugarine enlightening business. It done over RM 800 million out of which IPO.

How most did KPF make by trait of owning 20% of the business? On paper it done RM300 million? How did Sabri Ahmad (left) cull this figure? If KPF! creates the paper benefit of RM300 million as well as the RM 300m is 20%, then the whole benefit is RM1.5 billion. But Sabri says, FELDA done RM 800 million. Maybe it's only the figure of speech- the point is, he longed for to contend KPF done money albeit upon paper. Does which raise the share worth of KPF in FELDA Holdings right away which it done RM300 million paper gain?

If the claim is successful, the due inventory of FELDA Global will be delayed. The inventory will see the merger of FELDA Holdings with FELDA Global. The smaller partner in terms of equity, FELDA Global is buying out KPF which has 51%. How is the nature of the transaction? Does it engage as well as suggest by FGV to buy out KPF during the certain cost or will it engage only the share swap? You labelled it with reward fella- that's because KPF is removing 61%.

But the share cost of the new listed entity is also during the premium. You can easily inflate the cost of the would be listed entity, paint silken pictures, introduce exotic word such as unlocking worth as well as so forth- we will substantially satisfy KPF member to hold they have been removing the good deal. KPF will get 61%. That's good we say. Isa Samad goes around berating ungrateful settlers- "apa lagi awak semua mahu- dari 51% jadi 61%?"

But we ask in return- 61% of how much? If 30% of the shares have been sold to the public, the settlers finish up with 61% of 70% of the business. That's not all. 30% is held by the public- the interests of settlers have been converted in to shares which have been tradeable in the marketplace place. As with the track record of bumiputera held equities, we can gamble which chances are, the shares will be sold. If which happens, the bumiputra equity portion in the listed entity will be mislaid for reduced term gain.

Source of Peasant Settler Dissatisfaction

We have to go behind to the first source of dissatisfaction. The farmer settler has remained some-more or less the same. The corporate settler creates it big. The farmer settlers get palliatives- bonuses here as well as there. RM 1200 as each year reward translates in to RM 100 per month. RM 400 per year interpret in to RM30 per month- not even sufficient to buy the T-bone beef during NFC's Meatworks.

The farmer settler gets MRSM colleges, indoor stadiums, futsal stadiums as well as other amicable comforts but the worth of these pales in more aged with the comforts as well as wealth enhancing resources obtained by the corporate settler.The corporate settler has moved upon in to oleo chemicals, downstream activities, hotels, sugarine commercial operation etc. Why can't the farmer settler be orderly which same way?

The fundamental reason because this inventory is vehemently opposed is which people concerned hold it's the sellout as well as it's the culmination of unconscionable acts by FELDA.