Socio-political view on the Felda Global IPO

Khor Yu Leng is an independent analyst and the writer of Khor Reports, specialising in agribusiness in Southeast Asia and frontier markets for global corporate clients. She was trained as a political-economist at Oxford University and the London School of Economics. Recent client reports include updates on large-scale oil palm projects in West and Central Africa and on Myanmar’s mineral processing and port facilities. Yu Leng is also working on a book project on the history of agriculture frontier developments in Southeast Asia.

Q: With the IPO, how do you think this will benefit the settlers? What are the risks of the IPO?

Khor Reports answer: The market considers the Felda Global listing to be a Malaysia general election play which promises gains to those who hold IPO shares. It is touted as the second largest listing this year after Facebook. Many view the Felda Global IPO as being “designed to succeed.” Malaysian institutional investor support (dominated by state-controlled pension and investment funds) is expected to be strong. There is market chatter that pins hopes on the traded price reaching the RM5.50-6.00 per share range. Thus, there could be potential handsome gains for those subscribing for the shares, priced at RM4.65 each; but the medium to longer term market views are more cloudy.

Star: One to one fight ideal, but not necessary

KOTA KINABALU: The State Reform Party (Star) shares the sentiments of the Democratic Action Party (Dap) that the possibility of one-to-one fights in Sabah to take on the ruling Barisan Nasional (BN) at the forthcoming 13th General Election is non-existent.

It also agrees with Dap that the Sabah Progressive Party (Sapp) was out of synch with local politics but thinks “it would be kinder not to comment further on an irrelevant party”.

However, Star begs to differ with the Peninsular Malaysia-based national opposition party on why “it’s not possible to strike a deal with the self-glorified and unrealistic Star”.

Who Is Fickle-Minded ? Psm Slams Human Resource Minister

Once again it is clear that the Malaysian cabinet lacks a minister to adequately represent the interests of workers, and that the Human Resources Minister Datuk Seri Dr Subramaniam and his ministry are biased in favour of employers.

Dr Subramaniam’s statement yesterday echoing the claim of employers that a job-hopping young Malaysian workforce was what drove employers to hire foreign labour is disappointing. He took it upon himself to chide these young workers calling them fickle-minded for ‘liking’ to jump from one company to another and advised that they should be educated on the consequences.

Civil Suit against Ambiga and several members of the BERSIH 2.0 Steering Committee

This evening (23. May 2012), a civil suit by the government has been served on Dato’ Ambiga, including eight more members of the BERSIH 2.0 Steering Committee an a former committee member. The government claims RM 122,000 for demages during Duduk Bantah.
See the documents here:
Saman
Writ_Saman_&_Peryataan_Tuntutan

Borneo-based and led national 3rd Force in Parliament

Open Letter to Hindraf Makkal Sakthi

Dear Waytha and Uthaya,

Johore may be set for interesting times as it faces an uncertain future as an Umno bastion.

Muhiyiddin is reportedly trying to do a number on Najib here by planning to get rid of Ghani in a bid to prepare for the post-13th General Election period. He must think that Johore's and Mahathir's support alone are sufficient to help him mount a successful challenge against Najib for the Umno presidency.

The Sultan should continue to remain above politics and not agree to bring in, as rumoured, Khalid Nordin.The MB should be free of palace control.

The national Opposition alliance meanwhile is spreading any number of rumours on its political foes.