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.

item	Shares offered for sale	Percentage (%)	Number of shares( million)
1	Sale of existing shares	33.1	1,208.9 million
2	Sale of new shares	26.9	980.0
3	TOTAL	60.0	2,188.90

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 2^nd and 3^rd 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:-

item	Type of purchaser	Percentage (%)	Number of shares( million)
1	Chosen by  MITI	11.5%	419.5
2	Cornerstone buyers	41.1%	1495.8
1 +2	Sub-total	52.6%	1915.30
4	The public	2.0%	73.0
5	FELDA settlers	2.5%	91.2
6	FELDA employees	3,0%	109.4
5+6	Sub-total	5.5%	200.6
	Grand Total	60.0%	2188.9

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.

Posted by sakmongkol AK47