Thank you to my readers for the following comments :
LTAT bought another 765,000 shares of FGV on 1, 2 Dec. It owns 287.2 million shares since 2 Dec. See link below.
My comments : After LTAT bought those 765,000 shares in FGV, the EPF "leaked" an internal memo saying that the EPF has dumped a few hundred million shares in FGV.
This caused FGV shares to crash by about 8 sen to RM1.54 !!
This means LTAT sudah RUGI lagi !! Pasai apa lah hangpa ni b_d_h sangat ??
So far we have seen that FGV shares are going down, down and down. Who in their right mind will take PUBLIC FUNDS and buy FGV shares now?
To LTAT's investment managers, use your own money lah ! Use your own money to buy FGV shares for yourself.
Then here is more shocking information.
Before this it was announced that loss making and troubled FGV would buy a stake in the Indonesian Peter Sondhak's (Rajawali group) Eagle High Plantations.
Now, the news is that NOT FGV but FELDA itself will be buying the 37.5% of Eagle High plantations for RM2.3 Billion !!
(Felda) to buy 37% in Rajawali's Eagle High Plantations for $505.4m
a year after (FGV) scrapped plan to buy similar stake for $680m
instead of using listed FGV, Felda use an unlisted unit to buy Eagle High
seeking to cut the price by as much as 30%
Peter Sondakh has long-standing ties with Najib
FGV shares tumbled 5.6% on Fri, lowest in 3 weeks
after EPF sold its entire stake
Eagle High jumped 8.8%, highest in 8 months on Friday.
RM2.3 BILLION ! ! Mana dapat duit besar macam tu brader?
Here is some info. Peter Sondhak "lends" his private jet to transport the Hippo around. Few people know the tail-number of the private jet, so they cannot trace the jet easily.
So last year they tried to "buy" the stake thru FGV for US$680 million.
Now, one year later, and AFTER the Ringgit has crashed, the 37.5% stake has GONE DOWN in price to US$505 million.
How come ? Ringgit sudah jatuh. Sepatutnya harga pun mesti naik. Sebab depa sebut harga guna US Dollar. Macam mana depa kira?
Unless, depa terpaksa tolak 'Christmas Sale' shopping trip kat New York kut?
Sebab sekarang, kalau depa pi New York, kut-kut masuk lokap.
So purchase price pun jatuhlah - from US680 million down to US505 million !
Down by 35 % !! (Depa punya valuation tak masuk akal.)