After a brief lull, share price of Felda Global Venture Holding resumed its decline, closing at RM4.61 at noon today, 4 sen above its lowest point of RM4.57 recorded on September 11 on inter-day trading, and just 6 sen above the RM4.55 initial public offering price.
On September 11, the share price rebounded within four days from its low in RM4.57 to RM4.95. However, today FGV shares are on downward trend again, shedding RM0.35 to RM4.61.
Yesterday, the shares closed at RM4.65, the lowest closing price todate, breaching the RM4.68 mark it set on September 10.
Worse, the commodity prices for palm oil remains low hovering below RM500 per tonne.
National Felda Settlers’ Children Association (ANAK) president Mazlan Aliman said he had been getting many grouses from settlers over the plunge of share and commodity prices.
“I have also been contacted by Felda staff on the issue of loan (to purchase) FGV shares. The amount is too huge and they are suffering to repay the loans,” he said.
Felda settlers have been forced to take up loans to obtain the 800 shares which they were told were gift alongside the RM15,000 'windfall' in the wake of FGV's controversial listing.
“Everyone is fooled by UMNO leaders’ guarantee. (They said) FGV listing is a profitable global transformation, that we must support, that you are stupid if you don’t follow, that leaders wouldn't deceive us.
"So when commodity and shares prices drop, you still want to be their lackeys?” he chided.
Mazlan also questioned why Felda settlers and employees continued to remain silent and not voice out against Felda chairman Isa Samad, minister in the Prime Minister’s Department Ahmad Maslan and Felda director general Faizoull Ahmad.
“Until when are you willing to be cheated?”
-Harakahdaily
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