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Sakmongkol ak 47

Friday, 22 June 2012

The Settler and his Felda will soon Part ( Part 2/2)

I hope the filial sons and daughters of settlers will explain to their parents, the rip-off job Isa et al with the blessings of Najib are pulling on them. Look at the distribution of the 60% shares being offered:-
Table 1. percentage and number of shares offered.
Shares offered for sale
Percentage (%)
Number of shares( million)
Sale of existing shares
1,208.9 million
Sale of new shares

A total of 2.1889 billion shares amounting to 60% of the total are offered. The buyers? A large portion is taken up by cornerstone investors. Exotic name huh? They are large institutional buyers such as EPF, Tabung Haji, state governments. Did I see my home state Pahang in the list? Where will it get the money?
The FELDA community? Only a paltry 5.5% or 200. 6 million shares. The celebrated settlers?  They get to buy 91 million shares. Najib knows you people don’t have money. We don’t give you, you don’t have money. The FELDA settler- he who buys or doesn’t buy is an accursed bastard. Haramjadah.
Let’s say, out of this con job exercise, FELDA gets RM 10 billion. Let’s ask Najib and Muhyidin and the husband to Bibi, how much does FELDA get? 40%? If 40%, FELDA gets about RM4 billion. RM 6 billion goes to ahem- the honorable monster minister who rules over FELDA- PM Najib. We of course know what Najib does with the money. He will go out to town and grease the palms.  Not the palm trees. The palms of his voters. This FGV is Najib’s one more Pork Barrel politics project. BR1M then equals- Beli Rakyat 1 Malaysia.
What will FELDA do with the RM 4 billion cash? I hope it pays back EPF because that’s the people’s money in there. After paying RM 3 billion, FELDA is left with RM 1 billion. How long does the RM 1 billion lasts when FELDA needs RM 3 billion/year to run its operations.
With less money, FELDA will cut back on its corporate social responsibility. Let me illustrate. In 2011, FELDA spent RM424 million for the settlers. In 2012, that amount will be reduced by almost RM100 million to RM326 million
Our FELDA settlers will see
• Reduction in infrastructure spending by 57%. They can forget about repairing roads, buildings suraus, community halls, improving water distribution etc.
• Development expenditure on 2nd and 3rd generation FELDA dwellers reduced by 27%.
• Productivity incentives reduced by 22%.
• Hari Raya Bonuses reduced by 25%.
• Insurance plans for settlers reduced 25%.
That’s a precursor of things to come. Settlers beware.

Now let’s ask the next question. On the eventual fate of the remaining 40% held by FAHC, only God knows. Maybe some people in FELDA get itchy fingers; they want to pare down too. With Chairman Isa and other FELDA mandarins there, can we ever get a guarantee that the 40% will not be sold off? Will the 40% be safe?  
Let all the people in FELDA beware, the remaining 40% not sold off (yet) is held by FELDA Asset Holdings Corporation. (FAHC).  Isa Samad says or plans to offer 50% to settlers in exchange for selling their souls in FELDA Holdings. Let me repeat- settlers get 50% in FAHC not FGV. KPF and FGV are opposites. FGV is a capitalist vehicle. KPF or the Cooperative is a Communist inspired creation. Comrade Settler cannot co-exist with Bernie Madoff.  
FAHC which holds the remaining 40% will get returns depending on the experts who are managing FGV. FAHC will then determine how much to give to settlers not FGV. The settlers better start asking can FAHC guarantee they can get the 15% which they are now accustomed to?
Don’t embarrass the entire Malay race by jumping up and down like monkeys when Najib gave you RM 15,000.  Just look at the numbers below:-
Type of purchaser
Percentage (%)
Number of shares( million)
Chosen by  MITI
Cornerstone buyers
1 +2
The public
FELDA settlers
FELDA employees

Grand Total

So I hope, conscientious children of settlers will tell their parents, the RM1500 is the proverbial last meal for the condemned. After the listing, the 112,000 FELDA settlers get 810 units of share/household. The FELDA community (settler and employee) are allocated only 5.5% because they are accursed poor bastards. 94.5% of the shares offered will be owned by non FELDA people, including those who have never set foot in a settler’s home.


bruno,  22 June 2012 at 08:59  

Dato,before under the previous old management,Felda could run well and make tons of money.And with a regular,normal staff of ordinary working people.

Now under the musang Isa,they have cronies earning 300k-500k a year,with perks fit for rich spoilt brats.And with these so called experts they have lost billions overseas investing in companies even the orang putihs and middle easterners shunned and discarded.

In other words they have bought over losing concerns which the locals wanted to get rid off.And these crooks are happy and dancing like crazy because they have made a profit for their personal piggy banks because of the kickbacks.

If Felda sons and daughters cannot explained to their parents that they are getting the end of the stick,sooner or later their parents will end up with nothing.What can they do with the crumbs thrown to them by Najib and Isa.It is not enough to buy even an old jalopy.

ZorroReMasked,  22 June 2012 at 08:59  

Sdr. Sakmongkol,

They say "Silence is golden". But are all "silences" golden?

I got a call from one KPF Board Member last night. Terperanjat jugak tapi bukan tak biasa...

He was asking whether I heard anything. I asked "about?". Nothing else during this period but "FGV" lah. I said "no".

It seems kinda unusual that the newspapers are not "splashed" with "FGV" news after the "reconsider by French cornerstone investor" news he commented.

It didn't occur to me as I have been quite busy in the office with the pre-budget talks/forums/meetings and whatever nots...

Hmmm... Interesting... He has a point here. Normally a week towards the listing, there would be one news or another about the "new" IPO. But here, the silence is almost deafening...!

Two weeks ago, I actually told him that there has been instances where IPOs are aborted for whatever reasons and until the FGV's IPO day, anything could happen. No matter how remote the chances are, IPOs have been aborted, cancelled or postponed.

So yes... FGV's silence during these few days is really deafening... Hmmm...


Anonymous,  22 June 2012 at 09:39  

They are ordinary farmers.....selling their land is selling their future and security.

After 50 years of hard work, it comes to this????

ZorroReMasked,  22 June 2012 at 10:02  

Sdr. Bruno,

I cannot disagree with you...


Anonymous,  22 June 2012 at 10:41  

Cilakak punya babak gampang. Merompak hasil peneroka dan rakyat. Tapi masih ada peneroka dan rakyat melompat sakan kegembiraan walaupun mereka sedang di rompak setiap hari.

Anonymous,  22 June 2012 at 11:11  


They have listed all what they will do with the gross proceeds of RM4.45 billion from the public issue. But proceeds from the offer for sale of RM5.5 billion will accrue entirely to the selling share holder.

To see the details : Visit Bursa Website, go to listed companies, then IPO summary, then prospectus then current.

Anonymous,  22 June 2012 at 13:41  

Felda settlers will become estate workers of FGVB. It is very much like the Indian estate workers working under a big company. Don't expect FGVB, as a corporate entity to really take care of the welfare of its workers. Their bottom line is now dollars and cents.

UMNO's modus operandi is very easy to understand:

Keep the Malays poor, ignorant and ill-informed and they will get their votes with BR1M, RTM, TV3, NST and Utusan.

If the Malays are not poor and ignorant, UMNO is dead meat. So, it serves their interest to keep the Malays poor, ignorant and ill-informed.

Apart from high ranking civil servants, AP holders and big bosses in GLcs, the rich and well informed Malays who supported UMNO are either government supplier, government contractor or commission agent/rent seekers.

Anonymous,  22 June 2012 at 15:17  

dato, sorry to say this; you are passionate about the FELDA settlers and it's listing but you write better if emotions are kept in check. anyway, continue writing so as to let us have an alternative view of what is happening in the country.

Anonymous,  22 June 2012 at 15:47  


Felda may soon become Syed Mokhtar's next business empire acquisition. Then the price of cooking oil will be up again!

Anonymous,  22 June 2012 at 16:13  

Our so-called " leaders "should express their total and strong outrage from the start or when knowing the deal is grossly unfair to the settlers.

A fair deal plus compensation must be given to the 112,000 settlers and employees, for giving up their land, to secure their future and the rest of the 95% can play/gamble in the stockmarket.

Anonymous,  22 June 2012 at 17:48  

as I've posted many times here, this is daylight robbery & cruelty to mankind, and yet when the sinister motives behind the listing were revealed, and with evidence too, there're still people out there who accuse the whistle blowers as pro-Pakatan, and I a non-Malay was accused of being jealous, when I rasie my concern to Malay friends. The same thing happened to me when I raised my concern about the 100 storey RM3b Merdeka Tower, the construction cost along is RM1,000 per square foot, now could be more if we can believe the costing done. I was shot to tatters and was accused of why Chinese can make money while Malays cannot, and was even threatened because I had raised a racial issue. Now how in heaven's name did it become a racial issue is beyond my understanding. Well, anyway, it isnt my business and at least I met my moral obligation & conscience when I tried my best to highlight the issue to Malay aquantance.

Anonymous,  22 June 2012 at 18:22  

Bapak Najib bersusah-payah tubuh Felda, Najib senang-senang pi jual.

Anonymous,  22 June 2012 at 18:53  

Only a few Malay leaders, like you, are very passionate about this Felda listing.
May I know why those who had fought for bangsa, ugama dan negara like Kuli, Daim, Sanusi, etc are keeping quiet.
Don't they care??????

Anonymous,  22 June 2012 at 19:05  



We share the same home state so I share the same concern. I have been told that in exchange for signing on the dotted line for the land lease, the states do not have to pay a single sen. Wallahua'lam.


Anonymous,  22 June 2012 at 19:33  

Hari ini Najib cakap 3 perkara :

1. Tak mustahil pilihan raya musim haji.

Soalan saya : Mengapa kamu kena buat musim haji yang rata-rata rakyat tak setuju? Kata rakyat di utamakan.

2. Debat bukan budaya kita.

Soalan saya : Habis yang hari-hari debat dekat Parlimen tu budaya siapa? Debat Piala Perdana Menteri (Najiblah tu) tu siapa yang anjur? Kalau tak berani, berterus terang sajalah. Jangan bagi dalih. Ketua Pemuda KJ lagi berani.

3. Lynas tu selamat.

Soalan saya : Kemanakah sisa-sisa (waste) yang terhasil akan di buang? Australia tak akan ambil balik.

Boleh kita cadangkan di buang dekat rumah banglo berhampiran Kedutaan India di Jalan Damansara?

Ini bukan soal radiasi yang rendah, ini soal sisa-sisa toxic yang akan meresap ke dalam tanah dan anak-anak sungai.

Najib ni cakap macam orang sasau!

Anonymous,  22 June 2012 at 19:58  

Anon 22 June 2012 17:48

you said it well, nothing malicious, but the truth... bring it on... incensely furious, too, because thir kept spurning lies that the chinese are the richest ( yes, his cronies from mca ) to stir up racism and intense jealously and hatred against the regular and marginalized chinese. Go visit pulau ketam, pandan jaya, its surrounding areas, petaling street, pandamaran, kapar, etc. Seen elderly chinese and indians ( MIC leaders are wealthy ) working at garbage containers in the evening ? Wonder why ?

It is my constant hope that the God fearing Malays and adopted ones as well, will put things right and working in collaboration with all Malaysians, to begin with integrity, fairness, honesty, free from cronyism - considering eternal value!

Anonymous,  22 June 2012 at 20:57  

Anon 17.48

Yes who would believe you. Even our half Malay boy here QD said it was envious against the Malays that you are so much anti IPO.
And I bet you that half breed will be mad at you for bringing up Merdeka Tower. He will say if Chinese and Indians csn build high buildings, why cant the Bumis.
I think you better shut up and mind your business.

Anonymous,  22 June 2012 at 21:43  

A Chinaman who spends 50 years of toll and labour would be today big towkeys .....anytime.

So the felder people after 50 years will get RM15,000 enough for 3 months of happiness and from then on have nothing but work for the estate for forever and be poor forever.

They after this surely cannot spend another 50 years for another RM15,000 !

Poor Malay Felder "settlers" (or rather suckered)

"Desperate Despair" What says you?

bruno,  22 June 2012 at 22:16  

Dato,let us take the FGVH IPO at the RM4.65 price.Plus the cost of fees for paperwork and financing(surely the loan is not interest free).Maybe it will come up to RM4.75 per share IPO price.

Let us say that come June 28,2012 the markets have already have a correction and take off.It hovered at a high of RM5.95 which is 25% higher than the IPO price.Provided that one sell at the very high,which is impossible unless one has a crystal ball.

If the settler sells at the high of RM5.95 he makes RM1.20/share x 800 shares-RM960.Although it is not impossible for the underwriters and GLC's to push for this price,considering a large block of shares are under GLC's and cornerstone investors.

But it is very unlikely that this price will be reached or breached.If they do most possibly they will have to buy up all the shares the public will want to sell,including our buddy QD.Then there will be no more shares to trade.If no trading for a sleepyhead stock,then it will be delisted and they will have to take it private.And then it will be a dog eat dog's world for them.

There is no way the GLC's or underwriters want to end up holding all the shares the public wants to sell.And the uncertainty in world stock markets make it very unlikely that RM5.95 will be reach.RM5.25-RM5.50,maybe but for a short while only before it retreats.

My best guess is that any investors holding FGVH shares hoping for anything more than a 15%gain will end up holding the shares till the next bullmarket in commodities,which will come around again after 2016-2020.Most likely 2020 the year Malaysia is forecasted to become a high income(developed)nation,if it becomes one by then.

Anonymous,  22 June 2012 at 23:00  

In a nutshell, the Felda settlers will not be squatting on the company's land and they will be mere employees.

Anon,  23 June 2012 at 01:06  

Each FELDA settler should have been given 50,000 shares free of charge on Goodwill alone. Some smart goons come along, after 50 years, to take the majority share. This is call Melayu telan Melayu, in slow motion, tai Chee style.

bruno,  23 June 2012 at 10:03  

Dato,the markets are going the way I think it should.On Friday the dow closed up 70pts.With no follow through on Thursday's dow's 250pts plunged,the markets will rally beginning of next week.

Making it ripe for a correction later in the week,for a roll over to fall out of bed when the FGVH IPO makes it debut on Friday.It is going to be interesting to watch how the underwriters support the share prices on Friday.

Then on Monday morning upwards,it will be up to the GLC's to support the share prices.My personal opinions is that things are not looking that good.The sky has a funny way of teaching the crooks a lesson or two.Hope that I am not wrong.We will know the answer after the first week of July is over.Keeping fingers crossed.

Anonymous,  23 June 2012 at 10:27  


Ini PM kita, punyalah bangang pasal sejarah.

Adakah pilihanraya musim haji pada tahun 1986, dia kata zaman Hussein Onn!!!!

Wahai Kerismuddin, apa pendapat anda ?

Lihat pada minit ke 12:36 di :

Najib oh Najib....

Anonymous,  23 June 2012 at 12:10  

A low trust political party and leadership creats an unhealthy environment of distrust and amongst the people.

As long as one could make easy $$, nobody cares about the impact on exploited victims' lives and their families.

Unless there is a huge crisis eg. country goes bankrupt, nothing significant and meaningful is going to change.

sizzly7761 23 June 2012 at 16:19  

Sah najid bukan anak jantan. Takde telor punya piem.Debat yang utarakan polisi dan pencapaian kerajaan pimpinanya sendiri pun tak berani? Baik lagi boarding school student! Ke kerajaan ni takde pencapaian ? Tu yang takut sangat. Ada pencapaianpun mungkin pencapaian merompak harta negara dan duit rakyat? Itu yang banyak dalih. Syok cakap depan TV RTM(Raisyat Tipu Malaysia)aje! Taksangka piem malaysia ni tak berwibawa?

Anonymous,  23 June 2012 at 16:30  

Read about the fgvb ipo in malaysia today by the dutch company profundo in today's edition.

Anonymous,  23 June 2012 at 16:51  

Sak & fellow blog readers, Salam

The mind is ticking… who are these purchasers by MITI who consist of 11. 5 % ( 419.5 million shares ) and the cornerstone buyers of 41.1 % ( 1495.8 million shares ) being monopolized by a sub-total of 52.6 % of the purchasers ?

Both the donkeys ( as the FELDA settlers who have laboring since the past gens ) getting 2.5% of the shares ( 91.2 million shares ) and the public, presumably the keldai rakyat given a pittance allocation of 2.0 % ( 73.0 million shares ).

And the FELDA employees getting reliable monthly wages, whether in good times or bad being allocated 3.0 % ( 109.4 million shares ) and how much of this goes to the top echelon of the employees and their anak pinak ? Bizarre.

Doesn't this measure seem to " pacify " the FELDA employees to support the whole schemers to take extra profits without sweating and having calloused hands ( can’t ones feel masa salam ayah/ atuk ? ) on top of their monthly ages in their air - conditioned offices - retrieving dusty files, locating lost files, shuffling files and ikut perintah.

Dah sedar, insaf, tak kan lah buat lagi to justify an unequal distribuition of wealth to the Felda Settlers and in the long run, cicit Felda settlers might even end up slaving for the enterprising indons !

More power should emanate from the Felda Settlers, FIRST by voting Sak and his team and work from there to right the wrongs !

Where is QD hybernating ? Poor chap is mortified, terrified and petrified by our onslaughts.

Anonymous,  23 June 2012 at 21:21  

anon 16.51

QD is having wet dreams of making a profit from the IPO. Haha pity that poor boy. Think he can go back home to see his gramps and Nanna in the fall from selling the shares. This boy is stupid or what. The trouble with him is he believes so much in Najib gomen. QD better go home vote for your president and dont come back here again.

Anonymous,  23 June 2012 at 23:02  

Anon 21:21 thanks : )) ha ha he scatted

bruno,  23 June 2012 at 23:42  

Anon 16:51

my buddy QD is born in the land of the free,USA.Born an American,he thinks like an Umno Malay.And like the Dr likes to say,Umno Malays tend to have poor memories.QD has forgotten so soon that it was the orang putihs who sold the unprodustive,money losing prosessing plants to FGVH.Hahaha.

Anonymous,  27 June 2012 at 16:36  

aiyoh- simple education lah== anyone can own shares in a PUBLIC LISTED COMPANY/ the share price can goes u or down?? u only have apiece of paper lah>> so settlers in felda are taken for a big joy ride soon ?? have a good laugh -- another BEE END SCAM lah ha ha hi hi

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