Yes, gentlemen,... then we must now know if the Aus mkt is now good in terms of its commercial mkt,...and if there are prospects moving fwd,....anybody knows ??

I presume tis is part of their overall mandate to allocate certain % for investments outside M'sia

They must have a reason then for choosing Australian commercial assets.

Yup. Maybe EPF sees some potential in Australian properties better return than Malaysia..

It's just diversification iMO

Good lor
At least don't overly focus on Malaysia

Speaking of Aust property; for retail investors, you can access it through AM Asia-Pac Ex Japan Reits fund which has 20% exposure to Australia REITS.

If you belong to HNWI category, KAF Australia Islamic Property UTF (shariah compliance feeder fund structure) that has a 95% exposure to Australia property market (direct exposure, not REITs).

Xuzen

Just curious
How many forumers here have converted their Savings from conventional to Shariah since the closing date is on 23/12/2016?

I'm more curious on the Simpanan Shariah Take up rate?

how much taken up from the 100bil?

The Employees Provident Fund (EPF) has sold off all its shares in the troubled Felda Global Ventures (FGV).

"In line with best practices, we have been closely monitoring the equity performance of FGV over the years and have gradually sold down our shareholding.

"As of today, the EPF no longer holds any share in FGV," the fund said in a statement today.

On the RM6.5 billion loan that EPF provided to Felda Holdings, the fund said repayments on the loan were regularly being made.

"The EPF confirms that the RM6.5 billion loan taken by Felda Holdings is not in default and Felda continues to service the loan in accordance with the agreed terms and conditions," the statement said.

The fund also urged EPF members to not be misled by rumours.


FGV was listed on Bursa Malaysia with much fanfare in mid-2012, debuting at RM5.39. At the time, it was touted as one of the biggest initial public offerings in the world for that year.

Within two years, FGV's share price halved, following a drop in commodity prices and downstream losses. At the time of writing, it is priced at RM1.62.

EPF was among the early investors in FGV, reportedly having up to a 6.8 percent stake.

FGV remains the third largest palm oil producer in the world. However, the company has been in the red in recent years.

Read more: https://www.malaysiakini.com/news/366953#ixzz4TYb94C9i


AA
Surprised at the pull out by EPF. I thought everyone should stay together through good and bad time. Ha.

Ah Jib allowed this?

BB
Don't follow FGV performance. The 50% price drop in 2014 with 6.8% stake must be painful for EPF and all the contributors. Just imagine the higher EPF % we would have got if no FGV stake by EPF.


Hope EPF will shake off all these poor performing companies with mega thick stainless steel political spider web chains!

Wonder who are the major guys still in FGV.

What I know pnb & some of its fund still invested in fgv..
Kwap too.. TH I'm not sure about it..

Cannot imagined how much loss EPF made by selling off fgv shares?

My rough estimate on the loss ..

6.8% = 200 million shares

Say paid RM5 each share, share is now RM1.6, loss = 3.4*200 million = RM0.68 billion!

Assume they pay dividend, then loss is less.

Gee ..... BESAR/BANYAK ini!

This post has been edited by plumberly: Dec 22 2016, 07:09 PM

Walao quite a lot the losses..
Sure it would effect upcoming dividend

2016 dividend rate will be affected next year !

Looks like all of my RM dividend rates for 2017, namely EPF and ASX FPs will be dropping,...

Looked up FGV historical prices.

Not much drop Dec 2015 vs Dec 2016

Big drop Dec 2013 vs Dec 2014

The loss was already captured in 2014 dividend. So we will not see the big loss in 2016 dividend.

Hopefully.

Well we can only hope for minimal effect.. And the foreign investment would "help".. If not gg lor..
U look at ASB dividend also really drop.. And its for certain special group only..

Bailout of cronies company ?

Selling FGV only materialises the loss now.

But in the books, provisions for investment impairments have been made in prior years.

Hence, the loss has been taken into accounts ended 2015. So, it will not affect 2017 dividend.

Based on culmulative performances of Q1 to Q3 2016 EPF results, the estimated dividend rate is < 5.5%

However, because of the strong dollar, we could see massive revaluation reserves, unrealised forex gain in the year end accounting.

So, my guess is 5% - 6% next year.

Well, this response may be accurate for EPF because they always claim that they would put the unrealised losses on income statement eventhough they don't need to

In the case of ASNB FP funds, for FGV they probably did it last year because the reduction in value is too prolonged and significant to be ignored.

In the case of Tabung Haji, I believe it is still sitting in AFS reserves which is resulted in negative reserves for 2 years already; 2016 can only be worse

as for weak ringgit, they would be some negative impact on UK investments since GBP is weaker than as of 31/12/2015 and the UK property market is weaker too. Aussie investments should do well though

Hi, just wanna confirm on a very lame question ...the dividend is prorated by days right?

coz i'm thinking withdraw account two by this week...but still hope to get 2016 100% dividend..