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44,431 comment(s). Last comment by strattegist at Jan 26, 2021 10:40 PM
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8888_
2083 posts

Posted by 8888_ > Oct 5, 2020 11:31 AM | Report Abuse

FGV hopes to lift US ban on its palm oil, products as soon as possible

KUALA LUMPUR (Oct 5): FGV Holdings Bhd said it working towards resolving issues related to the ban on the company’s palm oil in the US and getting the US Customs and Border Protection's (CBP) withhold release order (WRO) against palm oil and palm oil products made by the plantation group lifted as soon as possible.

FGV said in an emailed statement in response to queries from theedgemarkets.com that it is unable, at this stage, to provide a definitive timeline to resolve issues related to the ban, but the company expects the matter to be resolved in several months.

"We hope to meet with the CBP as soon as possible. At the moment, we are not in the position to indicate when such a meeting will take place as that depends on the CBP.

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"There is not much information about the sort of evidence needed for the lifting of the WRO. Information that is available in this regard is rather vague. Therefore, getting clarification from the CBP on this matter is a priority for FGV, so that we could submit to the CBP the necessary evidence.

"Since August 2019, FGV has been submitting information about its efforts and initiatives in enhancing its labour practices to the CBP through our legal counsel. We will indeed continue to engage and communicate with the CBP to provide them with additional information and evidence of the various programmes we have carried out and continued to implement to enhance our labour practices,” FGV said.

Last Wednesday (Sept 30), the CBP said in a statement that effective from the same day, at all US ports of entry, the CBP would detain palm oil and palm oil products made by FGV, its subsidiaries or joint ventures (JVs).

The CBP said its Office of Trade directed the issuance of the WRO against palm oil and palm oil products made by FGV based on information that reasonably indicates alleged use of forced labour.

"The order is the result of a year-long investigation that revealed forced labour indicators, including abuse of vulnerability, deception, restriction of movement, isolation, physical and sexual violence, intimidation and threats, retention of identity documents, withholding of wages, debt bondage, abusive working and living conditions, and excessive overtime. The investigation also raised concerns that forced child labour is potentially being used in FGV’s palm oil production process," the CBP alleged.

Brenda Smith, an executive assistant commissioner of the CBP’s Office of Trade, alleged in the statement that "the use of forced labour in the production of such a ubiquitous product allows companies to profit from the abuse of vulnerable workers".

On Bursa Malaysia today, FGV’s share price was up one sen or 0.97% at RM1.04 as at the time of writing, giving the company a market capitalisation of about RM3.76 billion.

The counter saw 2.56 million shares traded.

https://www.theedgemarkets.com/article/fgv-hopes-lift-us-ban-its-palm-oil-products-soon-possible


strattegist
12724 posts

Posted by strattegist > Oct 5, 2020 12:15 PM | Report Abuse

meowwwwww


Mabel
10965 posts

Posted by Mabel > Oct 5, 2020 2:47 PM | Report Abuse

Meow Meow Meow

I'm sure FGV will resolve the issues...

Meanwhile focus on India and China plus other markets

US export is less than 5%

Just follow the 95/5 Rule

Meow Meow Meow


strattegist
12724 posts

Posted by strattegist > Oct 5, 2020 3:20 PM | Report Abuse

steady


cbkia4896
366 posts

Posted by cbkia4896 > Oct 5, 2020 3:51 PM | Report Abuse

down two more ticks can? i want buy warrant
lol mabel how many counters u meowing at


Shadows
460 posts

Posted by Shadows > Oct 5, 2020 4:18 PM | Report Abuse

Can fgv kick if US drop the bom?


EatCoconutCanWin
3114 posts

Posted by EatCoconutCanWin > Oct 5, 2020 5:43 PM | Report Abuse

what happen? so long didnt notice it


Mabel
10965 posts

Posted by Mabel > Oct 5, 2020 8:26 PM | Report Abuse

This is not the first time that such claims had been raised. The manufacturing sector faced similar allegations; we provided an explanation and part of the issue has been resolved...

https://www.theedgemarkets.com/article/malaysia-hopes-us-govt-will-accept-fgvs-explanation-%E2%80%94-mustapa

Meow


Mabel
10965 posts

Posted by Mabel > Oct 5, 2020 8:28 PM | Report Abuse

“NASH always ensures the welfare of more than 650,000 oil palm smallholders, including Felda settlers. With an average of 5 people per household, this action will definitely affect more than three million people who depend on this commodity crop in the future.”

https://klse.i3investor.com/blogs/savemalaysia/2020-10-05-story-h1514452256-Smallholders_association_slams_US_import_ban_on_palm_oil_products_from_.jsp


jk20598
94 posts

Posted by jk20598 > Oct 5, 2020 8:30 PM | Report Abuse

No words from PM,Agri Minister, so on..how?This country is such a pondan state,no fighter spirit sighted so far!


Mabel
10965 posts

Posted by Mabel > Oct 5, 2020 8:33 PM | Report Abuse

@cbkia4896 down two more ticks can? i want buy warrant
lol mabel how many counters u meowing at
05/10/2020 3:51 PM

Nice to see you here too CB...

Why not?

FGV has 60,000 hectares of Rubber Plantations that will support of our Gloves Industries. In addition, FGV Palm Oil also support our Innature Body Shops Products.

I love FGV and her sisters just as much as I love our Gloves and Body Shops. All these stuffs makes me looks radiance and beautiful...

My Johnny couldn't get enough of me...

Meow..


Mabel
10965 posts

Posted by Mabel > Oct 5, 2020 8:46 PM | Report Abuse

@jk20598 No words from PM,Agri Minister, so on..how?This country is such a pondan state,no fighter spirit sighted so far!
05/10/2020 8:30 PM

I agree.

TSMY, please change him..

I miss my sister Teresa Kok. She did a great job when she was the Minister. Our Gloves and Palm Oil were the talk of Bursa..

Meow..


Shadows
460 posts

Posted by Shadows > Oct 6, 2020 8:52 AM | Report Abuse

https://www.thestar.com.my/business/business-news/2020/10/05/msm-sacks-ceo-over-irregularities-at-johor-sugar-refinery

MSM is also part of Fgv?


Shadows
460 posts

Posted by Shadows > Oct 6, 2020 8:52 AM | Report Abuse

https://www.thestar.com.my/business/business-news/2020/10/05/msm-sacks-ceo-over-irregularities-at-johor-sugar-refinery

MSM is also part of Fgv?


5354_
3624 posts

Posted by 5354_ > Oct 6, 2020 8:52 AM | Report Abuse

Better let PH rule back? After all PH won GE14 not BN.


5354_
3624 posts

Posted by 5354_ > Oct 6, 2020 8:54 AM | Report Abuse

Ex-minister slams ‘astonishing’ US decision to ban FGV products
https://www.freemalaysiatoday.com/category/nation/2020/10/06/ex-minister-slams-astonishing-us-decision-to-ban-fgv-products/


Mabel
10965 posts

Posted by Mabel > Oct 6, 2020 9:52 AM | Report Abuse

Teresa has the fighting spirit. That's why I like her...

Thank you Sister !

You are my inspiration !

Meow Meow Meow


Mabel
10965 posts

Posted by Mabel > Oct 6, 2020 9:59 AM | Report Abuse

@5354_ Better let PH rule back? After all PH won GE14 not BN.
06/10/2020 8:52 AM

Usually I don't like to comment on politics. To me both are the same. What we need is skill and talents and Teresa has it. Current G should take her on board for her skill and fighting spirit.

When Bush came into power he engaged Clinton on some of the task for the benefit of US.

WE should do the same. !

Meow


strattegist
12724 posts

Posted by strattegist > Oct 6, 2020 10:45 AM | Report Abuse

meowwwwwww


ian0311
48 posts

Posted by ian0311 > Oct 6, 2020 10:47 AM |

Post removed. Why?


hng33
17633 posts

Posted by hng33 > Oct 6, 2020 10:54 AM | Report Abuse

bought back FGV at 1.03


Mabel
10965 posts

Posted by Mabel > Oct 6, 2020 10:58 AM | Report Abuse

I'm still waiting at RM 1..

Meow


No_margin
10 posts

Posted by No_margin > Oct 6, 2020 11:11 AM | Report Abuse

Play contra/margin? Why demote?


strattegist
12724 posts

Posted by strattegist > Oct 6, 2020 11:31 AM | Report Abuse

meowwwww


bigdigkai
8 posts

Posted by bigdigkai > Oct 6, 2020 12:36 PM | Report Abuse

a pattern i notice: whenever comments about a stock becomes active here, more likely for it to fall...


wehcant
801 posts

Posted by wehcant > Oct 6, 2020 12:38 PM | Report Abuse

Current minister tido. Memang takde guna punya menteri.


strattegist
12724 posts

Posted by strattegist > Oct 6, 2020 1:36 PM | Report Abuse

meowwww


TraderMr27
1 post

Posted by TraderMr27 > Oct 6, 2020 2:09 PM | Report Abuse

u guys ready to fly high? Don't forget, buckle up :)


strattegist
12724 posts

Posted by strattegist > Oct 6, 2020 3:19 PM | Report Abuse

meowwww


Mabel
10965 posts

Posted by Mabel > Oct 6, 2020 6:40 PM | Report Abuse

Meow Meow Meow


Mabel
10965 posts

Posted by Mabel > Oct 6, 2020 6:48 PM | Report Abuse

Date Settlement Price RM

6 Oct 20 2817
5 Oct 20 2721
2 Oct 20 2708

Uptrend intact

Huat chaiii


cbkia4896
366 posts

Posted by cbkia4896 > Oct 6, 2020 10:42 PM | Report Abuse

https://www.instagram.com/p/CGAVkVvFms0/?igshid=gnla0hcy542l
Come come this here to cheer you up


cbkia4896
366 posts

Posted by cbkia4896 > Oct 6, 2020 10:54 PM | Report Abuse

CBkia just here doing CB stuff and doing stupid choices of buy sell


strattegist
12724 posts

Posted by strattegist > Oct 7, 2020 8:48 AM | Report Abuse

uuk uuk


5354_
3624 posts

Posted by 5354_ > Oct 7, 2020 9:00 AM | Report Abuse

MCO none even Covid19 soar but FGV like lockdown price how?


strattegist
12724 posts

Posted by strattegist > Oct 7, 2020 10:20 AM | Report Abuse

green


5354_
3624 posts

Posted by 5354_ > Oct 7, 2020 10:41 AM | Report Abuse

2800 CPO why not RM 2.8 FGV? CEO/chairman not good?


5354_
3624 posts

Posted by 5354_ > Oct 7, 2020 10:42 AM | Report Abuse

Chinese CEO under PN no hope? Which govn can have?


5354_
3624 posts

Posted by 5354_ > Oct 7, 2020 10:43 AM | Report Abuse

2.8 we want not only 2800 CPO.


5354_
3624 posts

Posted by 5354_ > Oct 7, 2020 10:44 AM | Report Abuse

2.8 cannot bec PM not good/CEO?


5354_
3624 posts

Posted by 5354_ > Oct 7, 2020 10:47 AM | Report Abuse

Anwar tak mau is BN MP decide? Felda Settlers how?


strattegist
12724 posts

Posted by strattegist > Oct 7, 2020 10:49 AM | Report Abuse

meowwwww


5354_
3624 posts

Posted by 5354_ > Oct 7, 2020 10:52 AM | Report Abuse

Muhyiddin’s ‘rotan’ joke receives backlash from netizens
https://www.malaysiakini.com/news/545499


wehcant
801 posts

Posted by wehcant > Oct 7, 2020 10:55 AM | Report Abuse

Abah nak rotan kamu semua, retailers. Tiap hari berjudi. Korang ingat Bursa ni kasino ke?


hng33
17633 posts

Posted by hng33 > Oct 7, 2020 11:18 AM | Report Abuse

sold back FGV at 1.04


strattegist
12724 posts

Posted by strattegist > Oct 7, 2020 11:24 AM | Report Abuse

rotan sama dia... meowwwww


Felda_settlers
670 posts

Posted by Felda_settlers > Oct 7, 2020 11:42 AM | Report Abuse

Rafizi Ramli where are you?


Felda_settlers
670 posts

Posted by Felda_settlers > Oct 7, 2020 11:44 AM | Report Abuse

"rotan"? EPF/KWAP/PNB/TH tak beli why cannot "rotan"?


strattegist
12724 posts

Posted by strattegist > Oct 7, 2020 12:06 PM | Report Abuse

green


strattegist
12724 posts

Posted by strattegist > Oct 7, 2020 1:26 PM | Report Abuse

sustain

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