FGVH listing on track, investments abroad geared for winnings

FELDA Global Ventures Holdings (FGVH) is facing multi facade fronts in the sordid attempt to derail the listing exercise on the Bursa Malaysia sometime March-April next year. The latest is made by Straits Times and in the attempt to cast doubts for Malaysians, done through a KL based online news portal which lost a lot credibility lately.

The fact is that ruling party Barisan Nasional don’t work to get GLCs listed, so that the coalition of 13 parties representing all quarters of Malaysians has enough in its coffers to fight in general election. It is a preposterous notion concoted with a sinister intent. After all, neither any of BN component parties have any business interests in any of the GLCs.

It is also not true FELDA Global Ventures (FGV) is hiving off their investments in North America to Sime Darby. In fact, they are beefing up their management, processes and even the supply and distribution chain. One of the initiatives is to encourage and working closely Canadian farmers to grow canolla, so that the Twin River Technologies facilities in Becancour, Quebec is set to have a sustainable business model. Same initiatives are being worked on for the TRT plant in Cincinnati, Ohio.

FELDA Holdings Bhd MD Dato’ Seri Sabri Ahmad pays personal attention of all FGV’s investments abroad, which include all the restructuring plans and new strategies formed.

Part of FELDA Global Ventures Holdings exercise to have an international partner, which has a very good supply and downstream chain in the the agriculture, plantations and farming related commodities business. This is to ensure that all FGVH upstream products would eventually end up in the right international markets, as value added or finished products.

Both FHB and FGV is being managed by the same management team, This practice was streamlined during Dato’ Seri Mohd, Bakke Salleh’s brief tenure, where Federal Government formed FGVH with the intention of consolidation of all Kumpulan FELDA businesses under one vehicle. Last audited report shows that FHB made PATAMI of RM 766 million and FGV made PATAMI of RM 360 million.

Currently, FHB is only 25% of the consolidated market capitalization of FGVH where else FGVis the rest. Koperasi Permodalan FELDA (KPF) being 51% shareholder of FHB would only tend to realise between 22.5-25% of FGVH. The ‘unlocking’ of the real values of these assets and investments would define their true value further. Just like in the listing of MSM Holdings Bhd in June. For the FGVH  listing, Prime Minister Dato’ Seri Mohd. Najib Tun Razak instructed that KPF would eventually own 35% of FGVH, from all the ‘share swap’ and business rationalization programs and ‘unlocking’ of the assets.

The net end winner in the post listing FGVH is not BN but the 112,635 FELDA settlers, who are part of the 220,000 KPF members. It is by design.

More updates later.

*Updated 2300hrs

Published in: on November 25, 2011 at 16:01  Comments (4)  

Panglima bersara sertai PKR kerana bermasalah?

Seorang mantan Panglima salah satu unit dalam Tentera Darat diberitakan meneyrtai PKR. Dipercayai, mengenai satu perniagaan melibatkan Angkatan Tentera Malaysia yang gagal.

Pada 1030hrs 24 November 2011  bertempat di pejabat ADUN Port Dickson, Brig. Jeneral (B) Dato’ Abdullah Bin Mohamed dipercayai telah menyerahkan borang menyertai PKR dengan membayar yuran RM200 (Keahlian seumur hidup). Pengumuman penyertaan Abdullah, 67,  bersama 50 bekas pegawai dan anggota ATM lain akan dibuat semasa program ceramah Ketua Umum di Teluk Kemang selama lawatan Ketua Pembangkang Anwar “Mat King Leather” Ibrahim ke Port Dickson pada 25 Disember bermula 2030hrs.

Penyertaan Brig. Jen. Abdullah dan 50 pegawai dan anggota ATM adalah susulan daripada penyertaan yang dibuat oleh seorang Brigadier Jeneral (Bersara)  lain yang telah menyerahkan penyertaan PKR kepada Mantan-Banduan-Salahguna-Kuasa Anwar “Mat King Leather” Ibrahim dibilik gerakan Bukit Antarabangsa. Penyertaan beliau ini dipercayai akibat isu kehilangan enjen jet pejuang yang mana beliau dipertanggungjawabkan atas kes tersebut.

Manakala penyertaan Dato Abdullah bersama 50 pegawai dan anggota ATM yang lain atas alasan isu audit pembelian kereta perisai yang dikatakan lebih tujuh kali ganda daripada harga asal, dan berkemungkinan kumpulan ini akan dipertanggungjawabkan.

Dipercayai buat masa ini, siasatan masih diteruskan.

Sekiranya benar penyelewengan ini  berlaku dan apabila siasatan dimulakan dan amat aktif untuk mencari mereka yang bersalah, maka tindakan mereka untuk menyertai Pembangkang wajar dilihat hanya untuk kepentingan sendiri semata mata. Ada juga kemungkinan besar mereka yang disasat ini  akan menggunakan pengetahuan dalam isu pembelian tersebut sebagai modal Pembangkang untuk terus dijadikan bahan kempen ‘Politik Kebencian’.

Sebelum ini, pemimpin Pembangkang seperti MP Lembah Pantai Nurul Izzah (yang juga Naib Presiden PKR) telah berbohong mengenai keupayaan operasi kapal selam Perdana Class Scorpene dan MP PJ Utara Tony Pua pula telah memberikan analisa yang meleset berdasarkan fakta yang salah atas cadangan pembelian Littoral Combat Ships untuk TLDM. Ini merupakan strategi mreka untuk memperkecilkan kemampuan ATM dengan penggunaan asset strategik, sekaligus memberikan gambaran yang lemah mengenai peranan Kerajaan mempertahankan rakyat.

Published in: on November 25, 2011 at 09:31  Comments (12)