Felda's Plan B for settlers

Blogger Big Dog anticipates a positive announcement about the planned listing of FELDA Global Ventures Holdings today, in spite of efforts to scuttle the listing by certain quarters:

Efforts to thwart the listing of FELDA Global Ventures Holdings (FGVH), which have been carried out by a minority who are concerned about their personal interests, have become more pronounced. An Extraordinary General Meeting (EGM) of Koperasi Permodalan FELDA (KPF) scheduled for tomorrow (Wednesday) to pass several resolutions has once again failed to be implemented.

This time, an interim ex-parte injunction to prevent the EGM was submitted by five KPF representatives. They were fooled by the propaganda of ANAK led by Mazlan Aliman, a Pas central committee leader and also a second-generation FELDA resident.

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The plan to list FGVH on Bursa Malaysia this May, and to use KPF as the major shareholder in company’s plantation-based IPO worth RM21 billion, represents an effort of Prime Minister Dato’ Seri Mohd Najib Tun Razak to strategically elevate the economic position of the FELDA settlers. FGVH has enormous potential (with a sales estimate of up to RM30 billion), ensuring that 112,635 FELDA settlers would be in a good position through their holdings in KPF.

Failure to list FGVH via KPF will not only affect 112,635 FELDA settlers, but 108,000 members of KPF who consist of FELDA residents and employees. If this is the real plan, they have achieved their goal. The ones who will be biting their fingers here are the majority of settlers and also FELDA employees who have been hoping for income from their strategic returns through KPF.

It is understood that tomorrow the Chairman of the Board of FELDA, Tan Sri Isa Samad, who is also Chairman of FELDA Global Ventures (FGV), will meet with a large number of KPF representatives who have already been in the Kuala Lumpur area for tomorrow’s (Wednesday's) planned EGM. A press conference will be called, at which an important announcement about the FGVH listing programme will be made.

To summarize, the listing of FGVH, which had been planned and agreed to by Prime Minister Dato’ Seri Mohd Najib Tun Razak, will take place this May, in spite of obstacles such as these “wolves in sheep's clothing”. If there are those who feel left out, it’s clear who betrayed them.

More in BIG DOG.

Source: MOLE