how would we feel?
This contingency be a most applicable theme which Felda settlers should bear in mind, when considering a supposed 'durian runtuh' or windfall, as voiced by PM.
Most of us guessed as most which a whole practice would good a promoters, which should embody Umno a party, PM as well as Felda Chairman, a professionals concerned in a listing of shares, as well as so on. But as to how most a settlers will be getting, in relation to others, we have yet to know until now...
Wong Chen, a comparatively different until recently, has come out with some revelation sum which show how most a Felda settlers have been being taken advantage of by others...
FGVH Shares Allocation: Unfair to settlers; illusory to employees as well as abounding Bumiputeras
Keadilan energetically awaits a launching of a finish prospectus upon a IPO of FGVH by a Prime Minister upon Thursday 31stMay 2012. Come Thursday, we will all eventually get to know how most shares Tan Sri Isa Samad will get. As a preview to Thursday as well as staying upon a theme matter of shares allocation, we will like to expose to we a following unfortunate facts.
Twelve days ago we exposed which settlers "durian runtuh" asset represents a small 9% of FELDA's sum gains from a IPO. Today, we will yield our comments upon a 2.2 billion FGVH shares offering for sale. The relapse of a shares grant is as follows:
Question 1:Why have been settlers (numbering 112,635) getting reduction shares than a 3,835 employees of FELDA? Assuming a 100% take up rate, any settler will only get 810 shares since any worker of FELDA will get 28,368 shares. This effectively equates to which an worker of FELDA is being offering 35 times some-more shares than a settler.
Question 2:More shocking is a MITI authorized Bumiputera share grant of 420 million shares. Who have been these special Bumiputeras which merit 4.6 times incomparable grant than all a settlers collectively? What have they ever done to assistance develop FELDA? We do not know their identity though we know which under MITI's official guideline, to be a Bumiputera financier authorized by MITI, we contingency initial be very rich. The guideline says which in sequence to validate as a MITI authorized Bumiputera investor, an particular contingency have during slightest RM3 million in assets. If a financier is a company (100% Bumiputera owned), it contingency have resources worth RM10 million. As such, we direct which MITI produces a finish disclosure list of a abounding Bumiputera investors as well as beneficial owners of this IPO. We direct this list since a settlers have a right to know because these abounding Bumiputeras have been most most times some-more deserving than them. We direct to know how most abounding Bumiputeras will be allocated shares compared to 112,635 settlers. Since this IPO is of great national importance, we believe which a public also deserves to know if any of these abounding Bumiputeras investors have been linked to UMNO.
Putting things in correct context, we would like to remind all which FELDA was set up to assistance a landless Bumiputera poor. In addition, a PM has voiced which a FGVH IPO to be an practice which will severely good a settlers. The way a share! s have b een allocated clearly shows which a PM is some-more meddlesome in helping a rich. In conclusion, we urge PM Najib to repel a undeserving abounding Bumiputera grant as well as give it to a settlers. We also ask a employees grant to be reasonably reduced in foster of settlers.
WONG CHEN,CHAIRMAN, INVESTMENT & TRADE BUREAU
28 MAY 2012
Source:
If this is not robbing a bad to good a rich, we do not know what is. we believe this intrigue could well backfire upon PM as well as BN in a coming elections. - KoSong
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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