Bumiputra agenda steadfast post-FGVH IPO

The gong will be hammered to signal the trading for FELDA Global Ventures Holdings Bhd shares at Bursa Malaysia on 28 June. It is the dawn of a new beginning for many reasons. It is the largest agriculture-based IPO in the country. It is an IPO which will bring the larger 1.2 million warga FELDA to a different level and is strategic enough to ensure that they would be in a better economic position in the next 50 years.

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Prime Minister Dato’ Seri Mohd. Najib Tun Razak announced in his 2012 Budget speech on 7 Oct 2011, that for recognition of lifelong service and ‘perjuangan’ as Felda settlers, part of the benefit of FGVH being listed in Bursa Malaysia is the ‘Durian Runtuh’, to be distributed to al 112,635 FELDA settlers. This is achieved because the FGVH listing exercise unlocked the value of consolidated assets for all business entities under the Kumpulan Felda.

On top of the RM 15,000.00 for each FELDA settler family as part of the ‘Durian Runtuh’ announced by Prime Minister Dato’ Seri Mohd. Najib Tun Razak, part of the direct benefits to the 112,635 settlers is the shares that would be allocated to each of them. It is part of the 2.5% of the consolidated paid-up of 3.64 billion shares and is known as the ‘Blue Form’, allocated for FELDA settlers. However, a minority amongst the Felda settlers and Opposition from outside are making a big fuss out of this. In actual fact, the allocation is well received.

Read more HERE.

(Edited by The Mole.)

Source: MOLE