Read- https://www.malaysiakini.com/columns/389687

1. FGV is one big corporate mess.A big and obese elephant in the room.Why no one can see the mess coming whether as an Independent Non-Executive Directors,gomen appointee to the BOD,internal and external auditors over the years?.What are they there for? Remunerations,fees,incentives they enjoyed lucratively but oversight performance mediocre!Such mess could have been stopped and mitigated altogether if they singly,collectively or severally make a strong stand during the several BOD meetings,Audit and Compliance Meetings,Remuneration Meetings.They are so incompetent in undertaking their entrusted duties,responsibilities.It makes me totally aghast with such poor state of governance in a so-called one of the largest plantation companies in the world.Loud and empty shout,but nothing to show to the world.Sad story!
2.FGV can have 400,000ha of plantation lands(under LLA with Felda) but yearly they are encumbered to pay a sum amounting to RM 250million.With PAT so mediocre,crumbs are left for shareholders with miserable returns.Look at Saudi Arabia,a country blessed and endowed with hugh reserves of oil and gas on the ground.But latest International Monetary Fund(IMF) report said they will have zero growth(0%) for the year.Some good pointer for us to think loud about.
On the same matter,Japan,South Korea,or even Singapore they are NOT blessed with such natural resources but look at their GDP growth.Year by year they never failed to amaze many countries on how well their country's leaders,industry honchos,and citizens at large play their meaningful roles,responsibilities with pride and full diligence.
3.Accountability and responsibilities were absent in our GLCs.

Outcome: FGV is now in a poor sorry state.Need a strong and credible CEOS together with afunctioning BODs to clear up the mess and put the house in good and proper order.At present,does not see the positive thing happening.

Substantial holder in any public share counter normally can anticipate market move before the news or announcement.
2.With the latest news development this counter price will be volatile. More so for a very speculative counter like this one.
3.Knows the price trend and momentum for the counter, and decides from there.
4.Nobody can decide for you.
5.Equity market-place can be very brutal!.The price reversal can happen at the short notice.Stay smart and alert.

http://www.freemalaysiatoday.com/category/nation/2017/07/25/2-japanese-7-chinese-firms-bid-for-bandar-malaysia-project/

http://www.freemalaysiatoday.com/category/nation/2017/07/25/2-japanese-7-chinese-firms-bid-for-bandar-malaysia-project/

Full news- http://www.freemalaysiatoday.com/category/nation/2017/07/25/2-japanese-7-chinese-firms-bid-for-bandar-malaysia-project/

Don't cry for me,Argentina by Madonna.View and listen- https://www.youtube.com/watch?v=MEMUsC8ppU0

Aiyah,@AdCool with a good cow they cannot pilferage.The good cow will stand and speak up strongly for things done that were not right.Maybe the person will be kicked also by the good cow and send falling hard on-to the ground.
2.Only with the bad cow they can.Akin with the same character and brood they can come together.You scratch my back I scratch yours.That is the sad reality be-falling our beautiful country, if you care to look round you.
3.We have so much potential but because of mediocre leaders in all spheres of socio-eco-political realms that we performed sub-par.

"Cry for Argentina",is one of may favourite song.

All these "fellas" must watch this abridged video.Shown how Wells Fargo CEO was being questioned by US Congressional panel members for alleged fraud. No holds barred.

2.Can we expect the same standard of governance in Malaysia? Or is it just a pipe-dream?

View from source- https://www.youtube.com/watch?v=xJhkX74D10M

Never ending saga.Read- http://www.freemalaysiatoday.com/category/nation/2017/07/24/felda-settlers-group-wants-fgv-acting-chairman-sacked/

@miker anything that they touch will be turned topsy-turvy.
2.See how they used Felda to help out one of their good friends in one of the recent very much over-priced deal.Was public news and in the newspapers.The deal was so much not in Felda favour and interest and yet they went ahead!.Thus not surprising that Felda is further encumbered with debts that has sky-rocketed.Sigh...
3.Huhuhu...after 64 years they came back again for large largesse assistance to the settlers.Yet they can put up such a "brave face" when facing the settlers.Maybe they know the settlers are gullible and simple-minded folks.
4.As investors so many examples abound.Do you still expect them to do the right thing and make thing right.

I am still walking to find the answers what actually ills the corporate governance that the authorities lauded so strongly about.It saddened us- as investors, to read about news of one corporate saga after another.:-(((

The continuing saga is akin to the blind leading the blind.They are at the edge of the cliff.Anytime they will fell off from the edge into another 'wonderland'.
2.Don't put your hope too high.
3.The outcome may disappoint you.

Another from Rafizi- https://www.themalaysianinsight.com/s/8465/

Another interesting development.Read https://www.themalaysianinsight.com/s/8459/

Hope the investment banks-local and foreign, together with any prospective company issuing the IPO will learn an expensive lessons from this under-performed share listing.
2.Don't underestimate the market force.The market place can be very brutal to any pricing which is in any way much over-priced.The local investors can calculate the intrinsic value of any IPO easily with the available information on hands.

Cheers,for more savvy and price-cautious investors.

To know how Lotte Chemical price trend and momentum will be- says next two weeks, just look at how PetChem fared presently.Today,the latter drops by 5cents.So Lotte will be down similarly.The pattern can be discerned.

Read the FULL article- http://www.freemalaysiatoday.com/category/business/2017/07/24/midcap-star-dagang-nexchange-in-merger-talks-to-boost-profit/

Read the news for those interested for an update-http://www.freemalaysiatoday.com/category/nation/2017/07/24/proton-driving-into-an-election-storm-says-scmp/

Huhuhu...then if the gomen can assist the settlers who bought FGV shares during IPO then similarly such assistance(as announced) should be extended to all others. Precedent has been set by Lotte Chemicals where the company gave the successful IPO subscribers the option of buyback by the company at RM 6.50- issuing price.
Just an afterthought:-(((

@angelol when you want to make a person resourceful and independent you have to teach him how to fish.If one know that comes election time(which is due between now and the middle next year) or near to each festival season goodies will be received what will happen? Mediocrity and dependency culture is the outcome.That is the state of thing at present in all spheres of socio-eco-political in our beautiful country:-(((

@curious2 simply this;
1.EPF had completely sold off their large holding at a big loss.Sending very strong negative signal to the marketplace.
2.Felda and FGV have been embroiled in one controversy one after another.Their corporate image have been battered in the market-place.Imagine Felda after 64years of founding still have to depend on gomen when by now they should have established a strong foot-hold to safeguard the settlers' welfare! Oversight seemed to be not uphold in their failed investment decisions.( Such big largesse hand-outs yday is no good for the general citizens at large.Gomen needs to source for the fund from somewhere!)If without KPF buying and collecting from the market the counter price will have been sold down even lower.Market don't like controversy and hate uncertainties.
3.Wonder how much return that KPF can give to their co-operative members with such poor investment choice and pick.Seemed like KPF is caught between the hard rock and hard place.
4.Even KPF has limited funds and its buying is not large.

Outcome: Such counter is only good for punting.Makes poor investment choice.

Read the published article for those interested to know- https://www.themalaysianinsight.com/s/8397/

@LOO99 there is no such thing as special rights.Under Article 152,153-Federal Constitution is mentioned about the special position of the mlay.Under this there were a listing of special privileges accorded to them.Many occasions they used rights and privileges inter-changeability or vice versa which is not correct.Rights and privileges in legal meaning,intrepretation and intention is so far apart and different.
2.Over time,such provisions provided had been amended by the ruling gomen to make such privileges more extensive and broad during the year 1970.This amendment made were not equitable to all other loyal and hardworking citizens.Thus many of them have migrated overseas.But at the same time made them(not accorded the privileges) more adventurous,independent,enterprising,visionary,versatile and courageous to beat the system.
3.For the majority they cannot escape from the crutches and it has become the Never Ending Policy(NEP).
4.Many economists,pundits have proposed to have such policy and provisions reviewed but met with strong resistance from the ultras from the ruling party.
If that can be agreed ,certainly our country can grow by leaps and bounds and be one of the Tiger Economy in SE Asia.

I am not trying to politicise on the issue but to correct some misperceptions on such issue of topical interest.I stand to be corrected and informed.

@RonnieKimLondon maybe with Wilmar as one of the largest equity holders in this counter the company can leverage on the former reputable and sound business networks,wide contacts and marketing expertise in a big consumer market like China.
2.With the internal economic outlook in China stable and the growth maintained at around 6.5-6.8% pa ca help in many ways in generating increased revenues growth for the company.
Expect the coming QR in mid-August to be better over the previous QR.
Cheers:-)))

Should expect the counter to trend higher.Presently,all the Technical Price Charts-Moving Average(MA),Moving Average Convergence Divergence(MACD), Relative Strength Index(RSI) support the bullish trend and momentum for this counter.
2.Since it had crossed the RM3.01(post-dividend) mark,expects the new high to be tested in next week trading days.
Go,YSPSAH.

@newbee2017 we are either investors,punters,shareholders(since the IPO days) individually or collectively.We have to speak out and assert our rights to free opinion and fair comment when we see things are not properly managed and administered in the company.More so for a big public listed company like FGV where they have to uphold on good corporate governance as per Bursa and Securities Commission rules and regulations.
2.We have to safeguard our investment and at the same time to share with other forumers (forum members) in this open forum.
3.Sharing information,views,knowledge,idea,comment,opinion freely- however divergent, will guide one towards making a reasonably good decision whether to sell,buy or keep.

Hope that answer your query.Cheers,and be wise before you put your hard-earned money into stocks.One final advice do not have a herd-mentality on stock investment.Good luck.

Reposted with thanks to the author of the blog-
FGV's lack of transparency - M.A. Wind
Author: Tan KW | Publish date: Sun, 23 Jul 2017, 02:26 PM

Saturday, 22 July 2017


Good article in The Star: Why FGV should handle whistle blowers with care

Some snippets and some comments by me:


In fact, one of the reasons why the Employees Provident Fund (EPF), a stickler for corporate governance, disposed of its interest in FGV is because there was no separation of powers between the board and the major shareholders.

The provident fund, for instance, felt that the total remuneration package for the chairman, which was stated at RM2.67mil in the 2016 annual report, was seen as too high.

The powerful provident fund expressed its dissatisfaction on the way FGV was managed by disposing its shares. In fact EPF’s chief executive officer Datuk Shahril Ridza Ridzuan hardly completed a year as a board member of FGV.


I am sorry to say but I find this very disappointing from the EPF. By selling they even drove down the share price giving them an even lower price for the last shares they sold.

Could they not have done more? If they were unhappy about the Corporate Governance inside FGV then they could have voiced out their concerns, first internally, and when no adequate response has been issued, they can simply call for a press conference. Surely journalists from all major media outlets would show up and report on the issues. That would have forced the company to issue replies to some thorny issues and would have given some much needed transparency. Who knows, some M&As might have been prevented that way, for the benefit of almost all parties involved.


Only now, after Isa has been moved out of FGV does the board admit that the company lacked governance.


The problem with all the initiatives from Bursa and SC is that it looked like CG was good inside FGV. But FGV was simply ticking all the boxes.

"Real" CG is not about ticking boxes, but how the company handles itself for instance in cases of conflict of interest (rather common in Malaysia), transparency towards shareholders, major strategic decisions like M&A activities, etc.

The question is if FGV actually has improved its CG? From the announcements that have been made on the Bursa website I doubt it, I find hardly any relevant information on what has been going on the last few months, for instance nothing about:

The work done by Idris Jala, let alone the contents of his report (probably only the major shareholder is privy to this information).
The serious allegations by Zakaria (and others) regarding expensive, non-core acquisitions in the past
The real reasons for the resignation of the previous Chairman and who the new chairman is (the last might have been an honest oversight though)
The Edge Malaysia wrote a very good series of articles with lots of useful information (including interviews of the main persons involved), most of which was never revealed


He [Zakaria] should not be penalised for speaking out. Because this would render redundant all the governance structures and whistle blowing channels that are in place in FGV.


Exactly. Whistle blowing in Western countries is already difficult enough (many regret later on that they blew the whistle), doing the same in Malaysia (a country with the highest Power Distance Index in the world) is so much more difficult. We need to respect people who speak out based on conviction and proper information.

I hope to see a healthy dose of transparency in the near future, what was really going on the last few months, and a proper, honest evaluation of the controversial M&As FGV has done in the past. Several companies in Singapore (most notably SingPost and Singtel) have done so in similar situations (by an independent advisor under the guidance of the independent directors) and an extract of the final report has been forwarded to the SGX website. Will the same happen with FGV? We will wait and see.


Posted by M.A. Wind at 19:17
http://cgmalaysia.blogspot.my/2017/07/fgvs-lack-of-transparency.html

@face that is not the immediate priority for gomen. So long as the Felda's settlers are directly taken care off (as aptly commented by LOO99) the risk of your investment on FGV is for you as the investor,punter or shareholder individually or collectively to bear.That you have to be clear.Don't always bank on false hopes and promises.You will be hopelessly dissappointed.

Such massive cash handouts and incentives to a selected group of settlers by gomen does not reflect well on Felda.Isn't that the responsibilities and obligations of Felda as their founding objectives?.Is it that Felda has failed in its role to look after the proper welfare and interest of the settlers? Felda has been in existence for more than 60years?.After so many years still cannot be independent of the gomen.IF not for the reckless investments made overseas by buying overpriced hotel properties and few other failed and non-performing assets investments locally and overseas by now it should have built up sufficient cash hordes (reserves) to fund such re-planting plan,building of affordable houses for the settlers,and others.What gives?
2.To fund such handouts the gomen has to get the money from somewhere.You make the guess...
3.Money does not grow on trees.Year after year the same matter played out again.

What a disappointment to me as one of the tax paying citizens.Comments make based on updated facts and development.

@limch Kumpulan Koperasi Felda(KPF) and Tabung Haji(to a smaller degree) can keep trying to support and prop up the share price -so as to look "good" in the eyes of the investors but they are going to be dis-appointed big time!.Market forces will ultimately still be the big deciding factor whether the counter is worth the price that it commands! Market force is greater than any other drivers that can dictate or influence the prevailing price of the counter.

2.A very good example is Media Prima another UMNO owned counter and infested with heavy political influence.They owned the major mainstream newspapers like NST,BH,Utusan,TV3,others.A monopoly business in the newsprint and broadcasting industry.Used to be RM 1.40 around July 2016 but after the great disappointing QR the price was driven down to 0.90cents presently.Even though they are trying to support the counter by heavy buying and collecting through Morgan Stanley the price stay put at 0.90 cents.This counter does pay out good dividend every year giving a dividend yield(DY) of about 8.89% even though showing mediocre results.But even then it does not help to underpin the share price.What such market perception on the stock can one infer from such price movement and trend! Another big elephant in the room.
3.Needless to say,political leaders have no business acumen.If they stay out from the business sphere it will be better for the company.The public listed company will know if they failed to demonstrate reasonable QR at every intervals they are going to be hit negatively by market force. Other past examples like Perwaja,Proton,MSM,MAS,etc
4.On the contrary,if they know that if they fail,and gomen support is always available to come in to support then such politically-linked company(GLCs) will always be the mediocre breed.
5.The price that one company get from the market correlates closely with the Financial Fundamentals,corporate governance and high standard of fiduciary duties and responsibilities of the appointed BODs.

Don't put you hopes too high that the counter will command high price in the market.Nothing positive to show or demonstrate.Keep punting for regular reasonable returns but don't hold for long term.

Just to share-you as investors can disagree with my viewpoints.Cheers,for better days ahead hoping that we can get a gomen that uphold on accountability,and responsibility and earn back the lost public trust.

Read for those interested - https://www.themalaysianinsight.com/s/8342/

Basing on the S&P Global Platts Petrochemicals Index the price has been trending downwards from the peak reached at $1.029/mT on February 2017 to $873/mT on June 2017 because of softening demands.Petrochemicals are used for manufacturing plastics,rubber,nylon and other consumer-based products.
2.Market pundits expect the downside to persist through the second quarter.

Outcome- will be bearish for Lotte Chemicals and also PetChem share prices.

I would like to say again and again:

1. A public listed stock like FGV that has to depend on gomen's hype or "election push" has no business to be listed.Such news could not sustain the counter price or ensure that it will be on the road to sustainable recovery,and profitability.
2.What the gomen can give,the gomen can also take back.Once it starts taking back it will be more than what it gives.Ended up common people- citizens,investors,punters,shareholders lost big-time.
3.FGV is unlike many other blue-chip plantation companies and is heavily encumbered by the lop-sided Land Leasing Agreement(LLA) with Felda.
4.Where were the cash of almost RM 15billion from the IPO exercise about 5 years ago? From reported news source this cash pile has been depleted by a big amount.So where has the money gone?.Aren't we as shareholders,investors,holder of the stock since the IPO should be concerned on this matter of great importance? The previous BOD has to be held accountable and responsible to account. Just imagine how much things can be done with such cash reserves!
5.Such counter ONLY for punting and trading(speculation) because of weak financial fundamentals.

The list goes on but just to make a stand on the Top 5.Happy weekend.Take care:-(((

Read- http://www.theedgemarkets.com/article/debt-threat-lurking-behind-indias-zombie-power-plants

Look like many punters for this stock.For those who don't have the time to monitor the stock price preferably stay away.Too speculative,too volatile and price reversal can happen any time.The risk on this counter is high and not for the faint-hearted.
2.No point to curse until kingdom come, once the price drop from its high.It will be bad for one person's heart.

In short,know what you are buying.Whether the price is worth buying for.

Cheers.

The price will sill be on the down side.By correlating with the trend and price movement of PetChem, and also the global price for petrochemical products and by-products expect the price still has some legs to go further down.Stay alert and patient.

One shallow does not make the summer.It is still early days.We must not forget the followings:

1.Privatisation had been floated around since last year.Even Shahril (when he assumed the mantle at Felda) had spoken on this but he retracted that proposal.
2.FGV is too bogged down with politics and poor corporate and work culture.Need a strong leader to rid the company of mediocrity,poor work ethics, and sloppiness.Remember when one study on management one will come across the famous quote: " If machine broke down or irreparably damaged,the replacement can be done outright.But if dealing with human beings it is not easy.The employee can say yes,but at the back of you he does another thing.Put simply,it is not easy to change the workers and employees work culture".
3.Even if the company can generate RM 250.00 million per year practically no cash remain to pay out as dividends to shareholders.The company is encumbered to pay Felda a sum of RM 250millions every year under Land Leasing Agreement(LLA) which is not favourable to FGV.
So far the company financials have not supported that optimistic view.
4.HUHUHU... tell me how can FGV generate revenue of RM 100billions in another thirty years.That is too lofty a target!.Can dream on.Put the house internally in good order first then only can think of conquering new markets even though FGV may have marketing or associate offices in TEN countries.That is the most immediate task.Priority No. 1.
5.Barring any downsizing,restructuring,monetising of poor performing assets,optimising and increase in productivity expect the company to return mediocre returns year after year.

Stand to be corrected.Presently,such stock is good for punting but not for investing long term.Poor and mediocre choice.

Cheers,and have a wonderful weekend.

Cheers,and happy investing.

Tell me what good reasons Philippines will buy or import more palm oil and products from us.Consider the following imponderables:

1.Philippines is the global top producer of coconut oil for coming to almost one century.Last production figures coming to ~19,500,000mT.
2. A lot of the products are exported to the United States.The coconut industry plays a very important role as a major contributor to the country’s GDP.
3.Low possibility that more palm oil and products can be sold to them.
4.Majority of households and consumers used coconut oil for their cooking and others.

Our leaders should be more innovative in thinking and have they considered the followings to boost the earnings from palm oil exports:

1.Making palm oil more competitive vis-a-vis Indonesia in the global market-place terms of pricing,delivery time,product branding, and value-added.
2.How to increase the yields per ha so that the selling price can be competitive against other vegetable oils- soya,corn,sunflower,coconut,rapseed,etc. in term of differential price margins.
3.Working more closely with the industry by making high-impact research on the goodness of palm oil so that it will be readily accessible to consumers in European Countires(EC) and other western countries.
4.Palm oil is a very versatile product that can be processed to manufacture other high-value products that the consumers want.

Otherwise,where we used to No. 1 in tin,rubber,palm oil production will forever never be regained.Mediocrity and complacency are our worst enemies.That what was happening.We don’t appoint or have capable,visionary,and result-driven leaders in all sphere of socio-eco-political activities.

Emotions should not come into play when buying share.
Many punters lost money because of that.

https://www.malaysiakini.com/news/389211

It will be interesting to watch how much longer they(Investment Banks-IBs and the issuer) can support the price at RM 6.41.
2.Today,PetChem is only RM 6.87 a drop of 7cents.
3.Expect petrochemical counter to go further down because of the glut in the global marketplace.
4.Wrong time for petrochemical share counter to list.

Be patience and one can later collect on the cheap.

For highly speculative share counter like this one is not for part-time investors.One has to watch the price trend and momentum full-time.For big punters they used electronic buy and sell which can be done very fast.But for those going through the remisiers the transactions may take a longer time to match.
2.Nornally,for such counters many will be trapped because they have the "herd-mentality".
3.Know what you are buying.Know the risk that you can afford to take.
4.If not one can lose the hard-earned money big time:-((((

A topical read on oversupply of petrochemicals in second half of 2017.Ever ponder why PetChem share counter price drop from RM 7.68 to RM 6.94 recently???
Read- https://www.platts.com/IM.Platts.Content/InsightAnalysis/IndustrySolutionPapers/Asia-Petrochemical-Outlook-Olefins-Polymers-H1-2017.pdf

Caveat emptor(a legal term)- know what you are buying and the risk that your are exposed to or need to carry in the transaction like on the stock purchase made at daily trading.

1. This is a highly speculative counter.Also too much hype when nothing concrete has been reported or decided unless one has the insider information.One day it can go sky-high by 30 cents (and above to hit limit up) as in the trading yesterday and a few months back.But don’t be surprised it can also have a sudden price reversal by the same amount and caught the investors exposed.So be alert and smart!.Don’t chase the counter sky-high and later you are caught holding an over-prized stock which is much over-valued. or over-priced.At the end of the day,nobody want to buy back from you but only at a deep discounted price.Like what has happened today when some of the investors have purchased the stock at 1.70. The losses some can carry.But for many others they are burdened with such heavy losses in one day and have to endure missed chances to invest and collect on other counters.You cannot time the market moves.That is something that we have to admit

2.Thus in the second cycle of speculation on this counter do learn the lessons from the first.Be savvy and smart.Don’t repeat the similar mistakes all over again!.By all means earn a reasonable returns from the seond cycle and re-invest in other countrs with good fundamentals.Leverage well on your capital gains or profits.For those forummers who have followed some who think they can time the market moves have been badly caught in between the hard rock and hard place.

@Michael Wong Yew Kong don't get me wrong.Agreed with ALL your viewpoints:
1. 7% discount given to them basing on my legal interpretation of the Constitution is not consistent with what is provided.That why I never buy a new house!. All the four properties we bought are second hand.Not one is first hand because we never agreed with such discounted price for them.We are indirectly subsiding the very rich from them in their purchases.Such matter has been skewed to their advantage.Hope one day,one of the new house purchaser will take up the legal challenge on such unfair stipulation in the courts of laws.
2.On other matter like scholarship,employment in GLCs and many others which directly and unfairly affected our children I also agreed.That why it is important that we must know our rights so that they don't take us for a ride.At all times,assert your rights if you feel that you have been taken advantage off.
Don't let such opportunists violate on our rights as citizens of the land.

Stand tall and don't let your head bowed.

@Michael Wong Yew Kong don't self-degrade oneself or yourself. You have the lawful and inalienable rights as lawful citizen of the land and nobody can take that away.According to Article 8,Federal Constitution every lawful citizens are equal in the eyes of the law.So stand up and assert your rights.
2.Over the years the powers-that-be overstepped whatever is provided under the Constitution without even the component parties like MCA,MIC,Gerakan,etc or Oppo raising a whimper of protest.That is how some of our rights have been emasculated.But don't give up!.It is still not late and gone.
3.Hopefully,with more citizens aware and conscious of their inherent rights the past transgression of such rights can be undone.If not wholly but at least we can recover some of what have been compromised.

Making money in this world is not the end of every thing.Also needs to know the current socio-economic-political developments in the land of endless possibilities(or what you called Bolehland).Some called it Bodekland where bodekism is so rampant and toxic to other right thinking citizens.

Cheers,and stand tall.Take care my friends.

https://www.themalaysianinsight.com/s/7941/

https://www.themalaysianinsight.com/s/7941/

http://www.freemalaysiatoday.com/category/nation/2017/07/19/mp-blames-najibs-haste-for-bandar-malaysia-woes/

MATERIAL LITIGATION IN THE HIGH COURT OF KUALA LUMPUR SUIT NO. WA-27NCC-41-07/2016 BETWEEN JIANG XIN SHIPPING COMPANY LIMITED ("PLAINTIFF") AND FGV TRADING SDN. BHD ("DEFENDANT")

FELDA GLOBAL VENTURES HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description IN THE HIGH COURT OF KUALA LUMPUR SUIT NO. WA-27NCC-41-07/2016 BETWEEN JIANG XIN SHIPPING COMPANY LIMITED ("PLAINTIFF") AND FGV TRADING SDN. BHD ("DEFENDANT")
Further to our last announcement dated 22 June 2017, Felda Global Ventures Holdings Berhad (“FGVH”) would like to inform that upon the provision of a bank guarantee to the Plaintiff, a consent order was recorded that the execution of the High Court decision dated 17 May 2017 and the assessment of damages ordered therein be stayed, in accordance with the terms of the said consent order.

This announcement is dated 18 July 2017.