Last "kopek" on FGV?

In this week's Edge Weekly issue, Jose Barrock reported FELDA is returning back to an earlier plan to privatise FGV. FELDA has 81.93% stake in the failed privatisation exercise. Its a question of buying up the balance from Pahang, Sabah and other smaller entities. 

However, the two parties are not willing to cut their losses to sell at the current level. Some kind of compensation needed for them to part their shares. 

In a conversation over coffee, brownie and ice cream with a former management of Felda, there was concern over Felda in absorbing FGV and the money needed to plow back in restructuring the orgaisation. 

More so, their capability in the strategic role to control and monitor the bigger organisation was raised. How about the million ringgit pay of FGV top management. Will it mean FELDA management pay adjusted to corporate level or they will do away with the FGV management layer? 

There was recently expose of alleged collusion in FGV Holdings Berhad's subsidiaries—FGV Johor Bulkers Sdn Bhd (FJB) and FGV Bulkers Sdn Bhd (FGVB)—and South Asian International Distribution Sdn Bhd (SAID) in  the supply and pricing of palm kernel shells to Japan. 

Was it a last "kopek" or last piece of the FGV pie before a new management take control? Or if the FGV management move up to control the new Felda, will more such shit to happen undetected from public disclosure?  

Palm kernel shells (PKS) is a biomass byproduct used in renewable energy, particularly in markets like Japan.

In November 2024, SAID filed a lawsuit against FGVB, alleging a breach of a Supply and Delivery Agreement (SDA) signed in February 2023. SAID is seeking damages totaling approximately RM90.84 million, claiming losses due to the alleged breach. The High Court of Kuala Lumpur directed FGVB to file its statement of defense by December 4, 2024. 

Report by The Corporate Secret suggest that FGV Plantation Industries (FGVPI) sold the PKS by-product from their mills to FJB at RM290 per metric tonne. It is then sold it to SAID at RM330 per tonne. 

SAID allegedly resold the PKS to Japanese buyers at RM580 per tonne, potentially earning a profit margin of RM250 per tonne. 

Critics argue that FGV could have maximized profits by FGVPI selling directly to end buyers, questioning the rationale behind involving intermediaries like SAID. FGVPI stopped doing so and dealt direct, till came a directive from FGV to reroute the business back via FJB and SAID. 

This raised suspicion of collusion between the management of FGV and FJB with SAID. 

It could not be more blatant than FGV General Counsel formally advising against any negotiation by FGVPI with SAID when the matter is already in the court. Cannot blame any observer having a reinforced suspicion that an outright collusion is happening at the FGV level. 

A former CEO of FJB is now in the Senior Management team. The CEO who started the export of product from FGVPI's mills became CEO of FGV Transport and now Central Sugar. There are many more at top management level.   

The owner and management of SAID were formerly from Syed Mokhtar's Johor Ports Sdn Bhd. More on those suspected to be behind SAID in Free Malaysia Baru here. 

It includes possibly a Syed relative of Syed Mokhtar who was formerly at FJB and now serving at Tradewind.  

Despite the controversy, FGV has been actively expanding its PKS export operations. 

In May 2024, FGV Palm Industries Sdn Bhd (FGVPI) achieved its inaugural export of certified PKS to Japan through Johor Port, facilitated by a partnership with GBK International Sdn Bhd. 

FGVPI aims to export two shipments of 20,000 metric tonnes of certified PKS per month to Japan, aligning with its "Waste to Worth" initiative to enhance the global biomass market. 

The lawsuit filed by SAID and the allegations of underpricing raise concerns about FGV's procurement and sales strategies. 

The involvement of intermediaries and the potential loss of revenue have prompted calls for greater transparency and accountability within FGV's operations. The outcome of the legal proceedings may have significant implications for FGV's reputation and financial performance.

As the situation develops, stakeholders and industry observers will be closely monitoring the legal proceedings and FGV's response to the allegations to assess the impact on the company's operations and governance practices.

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An Open Letter to Modi and Amit

‘WHERE DID YOU GO WRONG? 

An Open Letter to Narendra Modi and Amit Shah:

Iqbal Latif

©️ Iqbal Latif, 2025 – All rights reserved

Dear Prime Minister Modi and Home Minister Shah,

WHY I’M WRITING THIS LETTER

I write not as a rival or an opposing nationalist. I write as an observer of history — someone who believes that when the stakes are nuclear and the region is combustible, truth must speak louder than pride.

This letter is not about vengeance. It is about accountability. It is about the need for strategic humility — because when miscalculations are made by those who command armies, silence is no longer a virtue.

India did not just conduct an operation — it altered the regional equation. And in doing so, it exposed itself to a kind of parity it had long denied existed. This is not written in fury. It is written with the sober clarity that follows strategic catastrophe.

You didn't just miscalculate militarily. You misread doctrine, misjudged adversaries, ignored geopolitics, and violated the fundamental balance that holds this region back from the brink.

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Why India’s Air Force Is Grounded—and Why It’s Afraid to Rise Again

Go to chutyapa

r/chutyapa, Reddit

I began this story three days ago, but I decided to pause it for the sake of peace.

Now, I feel ready to fully engage as I see my existence is at stake—threatened by two Gujjus—and I will continue with my creative strategy.

But today I saw the whole world reporting that Modi’s empire of illusions now stands exposed, like the emperor with no clothes. The myth of invincibility, the choreography of dominance, and the Rafale-powered bravado have all crumbled in the face of one cold truth: the battlefield doesn’t lie.

His spectacle of superiority was built on borrowed tech and media muscle—not on battlefield supremacy. The silence of Indian jets, the retreat of doctrine, and the unmistakable debris scattered across Kashmir tell a different story—one of strategic paralysis and tactical emptiness. 

[Inspired by “How China helped Pakistan shoot down Indian fighter jets” https://www.telegraph.co.uk/gift/9caaf214c46509a7]

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#VPN What's the problem with the Malaysian healthcare industry?

Last Tuesday, the private clinics held a demonstration outside the PM Office against the new regulation to display price list of drugs for consumers. Prime Minister Anwar Ibrahim responded to request MOH to justify the rule. Doctors did not take well of Domestic Trade Ministry to enter the frame.  

Yesterday, the Star came out with another two features, namely: 'Specialists needed in all areas' and Increase training capacity to resolve shortage, say experts. It was highlighted that more cardiothoracic and emergency medicine specialists needed. 

Well, its not a new problem. "They" wanted a less stringent standards to allow for not as credible FRCS certification to practise cardiothoracic and its for a socio-political agenda. 

And "they" refused to allow  local Universities to develop own Master in Surgery programs with as credible in-house training as credible as the original FRCS and serve as a long term solution. 

Why still the complain? 

The present problem need to research, but the possible problem arising may have been known and mentioned in past postings during the fight against the "fake" FRCS run for money churning by the Edinburgh institution. Its a surprise they are still complaining of shortage. 

Anyway the bigger issue is the structural problem of health industry that need major fixing. Its too big a task for Minister Dr Dzulkifli Ahmad to do without the cooperation of a group of vocal self serving medical practitioners.

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Doctors in Black: Rising cost of private healthcare

At the time of writing, a group of doctors dressed in black are gathered in front of the PMO to protest a new law mandating to display the price list at private healthcare facilities. This is part of the deal for Ministry of Health to review charges by private clinics. 

As reported in The Star here, doctors "were seen holding placards that read “We will not be silenced”, “Healthcare workers are undervalued”, and “Unfair fees and policies keep current and future doctors away”".

The Price Control and Anti-Profiteering (Price Marking for Drugs) order under the 2011 Act has been gazetted and signed by Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali to take effect on May 1st.

Malaysian Medical Asociation (MMA) is naturally opposed to the regulation to display and is of the view it will not bring down the price of healthcare. 

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"My earth is spacious" - Quran Surah Ankabut Verse 56

On April 2nd, 2025, POTUS Donald Trump announced his reciprocal tariff strategy in a White House Rose Garden ceremony. 

Since the day dubbed by Trump as Liberalisation Day to liberate American from being "cheated and ripped off" by other countries and instant return to manufacturing, countries dependent on the US for export revenue turned nervous, and worried on its implication to their respective economy. 

Vietnam and India seen to panic and were first to concede to the US. There were commentators praising the two countries for their swift action. 

Its a classic case of tunnel vision mentality, which intensely focus on a single goal or aspect of a situation, while neglecting or ignoring other important factors or possibilities. 

And it is also a myopic snapshot view unable to see beyond the visible horizon. 

As an entreport relying on import for sourcing and export for revenue, Singapore reacted the same to this change in attitude by their important Western allies. Perhaps it was a political ploy of PAP to apply fear factor on the voters to get reelected.  

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