OK, thought the are going to be delisted. Obviously not. Better be prepare to buy when it open.

By GE15, might have been privatised!

Still need CBB.

I always thought rule no 1.
"THE CUSTOMER IS ALWAYS RIGHT. '

i HOPE AAX will eventually windup. They deserve it for treating their customer like that. Free credit! Refund or not doesn't matter now because I have made a killing on this a year ago, am prepared to loose the 4 tickets (7 cancelled flights). Will never buy another AAX ticket again , after I have used my credits.

Email from AAX to me (customer) dated 19/11/2021.

"Dear Sir/Madam,

As you may be aware, we had our Creditors Convened Meeting (“CCM”) on AirAsia X restructuring on Friday, 12 November 2021. We understand you were not able to attend to vote or abstain from voting hence we would like to give you an update of the outcome.

The scheme was voted through with success with 99% from all classes for the scheme.
Under the restructuring law, besides being a shareholder, a passenger is either a debtor or a creditor. Since we owe you money, by definition, you are a creditor of ours, and are entitled to the compensation under the scheme through a very small amount of payment (which is all that can be afforded at this stage).

Additionally, you are entitled to profit sharing of the airline’s profits in the years to come. More importantly, it is our intention that you will also get to utilise the money that we owe you in the form of travel credits to use for flight ticket purchases when we fly again, in full amount.

If the restructuring fails, the airline goes out of business. So 99 pct of our creditors, even though we owe them vast amounts of money, have concluded that the airline is more useful to them being in operation and rather than not. Likewise, if we get the chance to fly again, you will be entitled to travel credits and compensation mentioned above.

Which brings us to reiterate the most important point. We have clarified that when we fly again, it is our firm intention to put in place travelling privileges in the form of travel credits which can be used for future purchases of flight tickets once international borders reopen.

We dearly hope that you will remain a customer of ours and we look forward to hosting you on one of our flights as soon as we start flying again.

Regards,
AirAsia X

Sarawak Plantation 3Q net profit more than doubles to RM42m.
https://www.theedgemarkets.com/article/sarawak-plantation-3q-net-profit-more-doubles-rm42m.

Everybody in the palm oil sector seems to have good news but our FGV cannot move at all.

IJM Plantations returns to the black, recording RM101.04mil net profit on higher CPO prices
https://www.nst.com.my/business/2021/11/746871/ijm-plantations-returns-black-recording-rm10104mil-net-profit-higher-cpo

Good results in Melaka. A wake up call. Just need the same momentum into GE15 for the national results. Not pro BN, Harapan, or any coalition. Just need a govt to be more focus on their jobs than their own individual welfare. Only a BN will be looking after FGV settlers.

CPO prices, Sugar prices and what ever optimistic outlook in the world is not going to twitch a cent on FGV. It will go down or up to whatever FELDA wants. There is nothing anyone do can stop them if they want it down. Only thing you can be sure of, is it is not going below 1.30 in the next 2 months.

The biggest IPO in Malaysia at that time, as well as in Asia. It is nowhere close to a fraction of what it was. With 1MDB and this Malaysia has become the biggest laughing stock.

Where is MACC, maybe they can look into it. Oh, I forgot they do make alot of noise and arrest but nobody has been sent to jail. In fact , it's chief has recently just been conferred a Tan Sri. Is that a joke. I thought in this modern times, you get rewarded based on your performance. Maybe the performance is to ensure non of this VVIP end up in jail.

What we need is a total spill of the BOD. Filled it with independent candidates who are not the silent arm of FELDA, except those required based on FELDA's right as a majority shareholder.. This will give us a chance to hear the offer of SM's proposed joint venture. As it is at the moment the BOD did not even want to consider or even entertain this proposal. THis is closed to being classifed as criminal by association.

Ku Nan, who is next? Isa Samad, Zahid ? Won't be long.

Better hope for BN in Melaka. Melaka is the gateway to where most of FGV settlement is. PN or even Harapan will not be doing any thing for FGV. Better still BN in GE15. PAS, PRN, PKR/HARAPAN has lost the plot. Slowly but surely things are coming back together. How long ago was the 1MDB whale story, has anybody been locked up. We are very quick to lock up small petty offenders but not the big WHALE.

"Prosecution withdraws appeal against Ku Nan's acquittal in RM2 mil graft case."
https://www.theedgemarkets.com/article/prosecution-withdraws-appeal-against-ku-nans-acquittal-rm2-mil-graft-case

Sign of things to come.

The first impression with buy back is the company has got excess cash and don't know what to invest in or what to do, so they buy back their own shares. Need some new Directors.

It is KPMG resposibility to get the confirmation signed off by the debtors before they can themselves sign off the accounts, because of the significance due to the $ size of the debt.

The problem here is they can't find the debtors who can confirm the $ due to SB. Management could have easily assisted.

I am sure given the same conditions that FELDA has ( volume of shares on 1.30 ) to anyone of us on I3, I am sure we can manipulate the market and make a decent profit out of it, as well as maintaining the same volume in the books at the end of the day.

Don't have to get stress out. We will have some indication where it is going by late tomorrow afternoon.

“I will allow the plaintiff (Serba Dinamik) to respond to the affidavits following their request within one week of today (Nov 11). As to their request for an ad interim [injunction] and balancing in the interests of justice, this court orders that no ad interim order be granted," ruled Justice Datuk Ahmad Fairuz Zainol Abidin.

Felda has the ability to sell big volumes from 1.30 - 1.50+ and buy back again without causing any damage in their books. VERY EASY for them to manipulate. They hold hugh volumes on 1.30 from the takeover offer.

CPO price and sugar prices have NO effect on the share price. There is not enough free shares available in the market. It can be easily manipulated by FELDA.

taitaumau
Option 1 - This is the only clean & easy way to go. It will happen within 2 mths. They will have to make another offer, no choice.
Option 2 - This is impossble. Just for reducing another 5% stake is alot of shares & investors are fully aware of what is going on. Even iif there is a HUGH drop in price, the buyers might just hold back.
Option 3 - This is only possible if it is a force sell, like if it is a margin call. You don't have a choice. Can't see this happening, same effect as option 2.

Another option is for FELDA to organize for someone to agree to take a 5% stake crossing in one hit.

Did we sell the technology for
" An Artificial Intelligence (AI) algorithm developed by Serba Dinamik Artificial Intelligence Team (SDAI) has correctly identified people with Covid-19 just by the sound of cough."
to Serba?

They are not suppose to be buying. By right they have to be selling! That's Bursa for you.

Well, that last lot of reported acquisition of 767,800 shares can only be between 0.50 - 0.51 (that is the high & low for 9/11/21) It is silly selling now, there is only one seriously buyer - FELDA. I presume today's low turnover @ a lower price most likely gone to FELDA. We will know in the next couple of days.

Intrinsic99
I am 100% with you. Good comment.

The volume weighted average price of FGV is currently around 1.50. It has been hoovering at this level for over a month. In the event of another offer (to be sucessful) it would have to be alot higher than 1.50.

No action so far. Felda playing games with investors.

Any news on the interim injunction relief hearing today 11/11 ?

Karim.
Don't listen to your lawyers. Of course they will say, we will sue them. Win or lose, they are going to get paid. What a better way to generate business in this crisis time of COVID. It will help to pay for their running costs.

Nikmon
I agree with you morally 100%. I believe that Karim is an idoit. As a businessman, he should have seen it coming & he should know through cost/benefit that there is always a solution to this. A settlement will yield more benefits. You might cost you a little bit more but your benefit will be a lot greater than the "COST". Personally I am not here for the right or wrong only to make money. Months after this, SB will not even be on my vocabulary or watch list.

Nikmon
Assuming if all parties agree to some form of an agreement in the case management. Anything is possible, Malaysia boleh, all you need is a couple of this & a couple of that & it will KawTim. Nothing is impossible. It's whether you are prepared to compromise or prefer too be arrogant. Then those investors have got it right, forget about the ethics of it.

If Karim have Kaw Tim this before the blow up some of those "smart investor" would have have make a killing. It's hiccup like this where you can make a greater profit if it goes your way.

Nikmon
Don't worry for the smart investors. They knew that they were taking a greater risk for a possible greater gain. Just like the investors on AAX, they are taking the risk hoping for a greater profit. They knew AAX will be here a year ago. I did they same with AAX & took a decent profit out of it a year ago.

Only Felda can manipulate the price of this counter. They took all the acceptance of the takeover offer at $1.30, plenty of room to sell & buy.

This is a slam dunk deal for Bursa. Wrong move for a cinapak. When you are talking Billion$ problem, you should have consider throwing a couple of Million$ chicken feed here and there and every thing would have KAW TIM. Ask Bossku, this is Malaysia, everything BOLEH! It would have easily go away before the blow up. Too late now just got to go through the process.

The smart thing is to keep buying for another month, and then dump it to bring it up to 25%. Pump & Dump. The result will be a lot lower price enabling them to make a lower offer.

Here they go again. Felda now has 79.65%. This leaves only 20.35% available for public holding. It was at 20.4% before the latest update.

$4.00 is never going to be in the picture. Be realistic the high for Fgv is $2.18 in 2017 & 2018. If they are buying at $1.50 then that will be average price they are going to base their calculation (forget about sentimental true value) If it gets close to $2.50 you will be laughing. Anyway it is still at least a 3 months wait!

The problem here is the 6 + 6 extension that has cause the loss of liquidity. That is why there is a 25% requirement for public holdings.
You are not going to see any movement until closed to GE15 or Jan 2022. Isn't there a provision of billions of $ in the budget to assist the settlers? Suggest they start using it or it won't be there if BN can't beat PAS & PN.

Looks like Felda is going to either make another takeover offer or reduce their holding before GE15.

My apologies. Looks like Bursa has granted them another 2nd extension until 2/02/2022.

"The Board of Directors of the Company wishes to announce the following Status Announcement in conjunction with the release of the Company’s quarterly results for the second quarter of the financial year ending 31 December 2021, pursuant to Paragraph 3.3 of PN 19 of the LR of Bursa Securities:

(i) As at the date of this announcement, the Company's public shareholding spread based on the Company’s Record of Depositors as at 25 August 2021 is 13.47%.

(ii) The Company has yet to formulate a rectification plan to address the shortfall in the Public Spread Requirement.

(iii) Bursa Securities, vide its letter dated 4 August 2021, has granted the Company an extension of time of six (6) months until 3 February 2022 to comply with the public shareholding spread requirement. "

ABSOLUTELY RIDICULOUS 6 mths + 6 mths. ( one year of loss liquidity in the FGV shares )

"The Board of Directors of the Company wishes to announce that Bursa Securities, had vide its letter dated 23 March 2021, granted the Company an extension of time of six months until 3 August 2021 to comply with the Public Spread Requirement.

As at 19 March 2021, the Company's public shareholding spread was 13.99%. The shortfall in the public shareholding spread of the Company arose as a direct consequence of the unconditional mandatory takeover offer by Federal Land Development Authority (“FELDA”) which had closed on 15 March 2021.

The Company will use the extension of time granted by Bursa Securities to formulate a rectification plan to address the shortfall in its public shareholding spread and to allow sufficient time for FELDA to formulate a firm plan on FGV’s listing status.

FGV will make the necessary announcement in relation to the status of compliance of the Company’s public shareholding spread accordingly."

Dated :24/03/2021



Main Market Listing Requirements of Bursa Malaysia Securities Berhad:

"This Chapter sets out the continuing listing obligations that must be complied with, amongst others, by a listed issuer, its directors or advisers in addition to other continuing listing obligations which have been set out in other Chapters of these Requirements.
​ ​ ​
PART B – CONTINUING LISTING CRITERIA
​ ​ ​
8.02 ​ Compliance with shareholding or unit holding spread requirement
​ ​
(1)​ A listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) or listed units are in the hands of public shareholders or unit holders. The Exchange may accept a percentage lower than 25% of the total number of listed shares (excluding treasury shares) or listed units if it is satisfied that such lower percentage is sufficient for a liquid market in such shares or units. FAQ 8.1"


SO WHAT IS BURSA DOING? TURNING A BLIND EYE TO THEIR OWN RULES?

If Felda is buying again today @ 1.50 , then if there is revised offer, it will be at least 1.80 to 2.00

FSX123
I believe you have a serious attention disorder. You keep posting on Serba even at 2.26 am. What you can't sleep? Only excuse is if you are o'seas, I doubt.

FSX123
Seriously, do you have to keep posting these propoganda every week. Have you got nothing better to do?

Bursa can't just turn a blind eye to this because it is a GLC. Trading should be suspended until they do something,

According to records Felda bought
29/10 - 557,100 out of a turnover of 669,600, low 1.47, high 1.50
1/11 - 436,100 out of a turnover of 2,356,400, low 1.49, high 1.55
2/11 - 449,100 out of a turnover of 777,800, low 1.50, high 1.53

From these records we can see who is doing the majority of the buying.

I am very sure Felda cannot be holding 79.60% of the total shares without making another formal bid, nor are they allowed to keep acquiring more shares on the market. Bursa should put a stop to this.

Which companies need Khazanah's RM3 bil help?

https://www.theedgemarkets.com/article/which-companies-need-khazanahs-rm3bil-help