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Friday, March 30, 2012

To list and not to list: Pro and anti-Felda IPO groups petition Najib


To list and not to list: Pro and anti-Felda IPO groups petition Najib
More than 200 Felda settlers marched to the Prime Minister’s Office in Putrajaya after Friday prayers to protest the listing of Felda Global Ventures Holdings Bhd, a share sale that they fear will expose their lands to be taken over by market manipulators who can corner the stock once its is listed.
The protesters carried huge banners stitched together with some 40 pieces of cloth bearing thousands of signatures of those against the listing, which Prime Minister Najib Razak has slated for June this year.
Mazlan Aliman, a PAS leader and the head of ANAK - an association of second generation settlers - led a 7-member delegation to submit the memorandum to Najib, who had gone to Perak to attend the funeral Raja Ashman Shah.
Opposing group
To counter their move, 7 pro-Umno Felda NGOs also sent a memorandum to Najib, expressing support for the listing. Their representative, Felda Youth Council of Malaysia president Anuar Abdul Manap, was received by Ahmad Maslan, the deputy minister in the Prime Minister's Department.
Ahmad later told reporters that the IPO was on track for a June debut.

"We will proceed with the listing despite politically motivated opposition attempts to jeopardise the move, and a slight delay from the original listing date of May," said Ahmad. He claimed that the majority of Felda settlers supported the share sale.
Malaysia Chronicle

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