How come you propose golden palm?
Would not some parts of the model/scheme have the same flaws or defects?
Are they willing to buy-out CHGS Growers, as they (GP Mgt Co) are also initially enjoying the same benefits in the initial years?

Golden palm operates in Gua Musang as well....they are getting double CHGS yeild.........
Maybe they are better?

Later they will say got disease/rat/monkey/ninja/alien come attack their palm oil.. and yield become 1/2....

This post has been edited by gark: Feb 7 2013, 12:19 PM

12.4 clearly say no one can replace PGCB.
to CH, PGCB default or not, is no matter, because is a management company, bear 0 weight on him

If grower decided to take up the plantation.. congratulation, you all had just turn your 100%capital return to 100%loss and 100% debt why ?

1-because the company now got 0 money

2-You need money to run the company means everyone need to pump in money in order to run. From book, you first need to collect 25M 1 year meaning, to get the trr full grown, u need at least 3 more years, so a 75M will be comfortable. Div by 40k plot, each plot come up to addition 2k (but not forget this mean you wont be able to get the div 12% CGHS promise until the 7th year.)

simply means 8k capital return (alraedy paid some interest), now become 10k uncertain return (no interest)

How on earth the grower able to achieve that ? I tell you is 0%, LKY sure win from day 0, grower sure lose from day 0

FOR ALL THOSE STILL ON THE FRINGE /UNDECIDED / UNSURE, ETC...

HERE'S A ROUND UP OF THE FACTS AS THEY STAND:-

VOTING FOR VT = NO DIVIDEND, SUPPOSED 10% RETURN OF CAPITAL (ROC) WITHIN 3O DAYS & 90% ROC WITHIN 2 YEARS. BASICALLY MEANS, WE WONT HAVE ANYTHING TO SHOW FOR LAST YEAR, THIS YEAR & NEXT YEAR & OUR CASH IS LOCKED TILL FEB 2015!... & WE DONT HAVE 1 CENT TO SHOW FOR IT... EVEN PUTTING IT IN FD WUD HAVE GIVEN US 12% FOR THE AFFECTED 3 YEARS!!!

VOTING AGAINST VT = TELLS THEM THEY CAN SHOVE THEIR BS 'VOLUNTARILY' OFFER TO CREATE PANIC & ITS TIME TO GET SERIOUS & OFFER A REALISTIC & REASONABLE OFFER ALONG THE LINES OF PAYING THE DUE 12% DIVIDEND THIS YEAR & CURTAILING THE ROC REPAYMENT PERIOD TO NO MORE THAN 6 MONTHS.

INTERESTING NOTE: EVEN IN THE CHGS AGREEMENT THAT WE ALL SIGNED WHEN PURCHASING THE LOTS, ITS CLEARLY STATED THAT IN THE EVENT A ROC ARISES, IT SHOULD COMMENCE "according to period stipulated in the contract.".

OTHER POINTS TO PONDER IN THE EVENT PUSH COMES TO SHOVE:-

1) PGCB WOULD UNLIKELY BE DEEMED BY TRUSTEE TO HAVE MISMANAGED CHGS NOR WOULD PGCB SEEK ITSELF TO BE WOUND-UP - LKY HAS MORE TO LOSE BY GOING DOWN THIS ROAD.

2) GROWERS CAN ALWAYS SUE FOR THE UNPAID 2012 NETT YIELD - WHICH WILL ONLY CAUSE LKY TO SUFFER MORE IF HE DIDNT SETTLE AS HE STANDS TO LOSE A LOT MORE BY NOT SETTLING.

3) HENCE ALL OF LKY'S THEATRICS IS ONLY TO CREATE FEAR AND FORCE A VT DOWN ON US. DESPITE HIS COMMENTS IN THE RECENT NEWSPAPER ARTICLES, IT WAS CLEARLY IDENTIFIED THAT THE LAND CAN BE CHARGED FOR LOAN TO PAY US IF PGCB REALLY IS SHORT OF CASH. AND NOT AS CONTRARY AS HE CLAIMED IN THE ARTICLE.

4) ALSO, TRUSTEE CANNOT REPLACE PGCB NOR WIND-UP CHGS SO EASILY FROM JUST A DEFAULT OF ONE YIELD PAYMENT.

This post has been edited by FALSEALIAS: Feb 7 2013, 01:10 PM

CHGS still have 80 mil deposit into Bee Garden's account and another 20+ mil in the trustee. Both these total up to 100 million which is more than sufficient to run a plantation. The highest cost to palm oil plantation maintenance is the first 5 years (seedling, land clearing, lots and lots of fertilizer), after 5 years the palm is cheaper to maintain with less regular fertilizer and the selling of the fruit is already more than sufficient to maintain (still zero cash flow). And at 7 year old, the palm no need much maintenance and will be cash flow positive.

But first please fire the incompetent plantation GM... who is probably working on LKY's side...

This post has been edited by gark: Feb 7 2013, 01:44 PM

But first please fire the incompetent plantation GM... who is probably working on LKY's side... > PROBABLY?

Just FIRE him...............some indian chap

It reminds me of the SYABAS guy.......serupa setia kepada boss!

"LKY is holding a press conference today at 3.00pm.

Watch out for the news update later."

good news
http://www.theedgemalaysia.com/business-ne...h-to-mswg-.html

also at the rate LKY is going he wants the palm oil estate
because he is giving 25 million from his own pocket which would pay the dividend if we accept it.
and then he mention he will try to find way to pay up within 6 months else he will pay it himself
sounds really like he knows the end game is much better to terminate CHGS scheme. Too many alarm bells ringing

however i do feel its good to terminate because i cant trust the scheme for another year what more 18 more years

when i heard this guy got such scheme dun even need to read what prospectus...........anyone who asked me this scheme i said dun go....sure ko..sometimes u must look at the profile of the person who run the show..

if robert kuok sure can la

Take the dividend and 6 month repayment. Ensure that there is an iron clad agreement that he undertake the repayment in 6 months. I dont trust this sucker one bit. A clean exit from this charlatan Tan Sri would save a lotta heartache in future.

Wow, the sudden change of heart must mean that LKY really wants to take the Estate private. However, the Resolution still stands and cannot be amended that CHGS does not pay the current year Dividend.

The RM25 mln is a separate Agreement between LKY and the Growers, Who is going to ensure that he keeps his word? Ask LKY to issue a Bank Guaratee to CHGS.

Hmm, there is more to come...

for us small players when we say we personally pay we are not scared because we small fry, you sue us not much money to sue

now this situation is different, i am not defending LKY but in the edge he mentions he will pay from his pocket and he will make sure it sells within 6 months else he will pay from his own pocket

if he does not do it you can actually now sue him directly. Previously its difficult to sue him directly since he can hide behind CHGS with a 5 million share cap.

CNY for all ! Tan Sri Lee included !

The 3 elements to seal a binding contract:

Offer - LKY has offered RM25 mln to Growers to pay CY Div and 90% Capital back within 6-mths in exchange for Growers to support the Resolution

Acceptance - Growers have accepted the Offer

Consideration - Voting for the Resolution can be deemed as the Consideration

The only problem is getting the $$$ to sue his a55

so how, for or against"? after his press conference? but like others said, can we trust this?

It is a good business decision WIN-WIN.
Please vote to accept the improved Voluntary Termination proposal.

PGCB will continue with this Gua Musang plantation and should be profitable.

The Growers will get back full refund of fees as well as the 2012 yield of 12% .

Growers still have to attend the meeting tomorrow - go early to get to understand to revised proposal. Ask questions until we are all satisfied and clear...

This post has been edited by mkhor7: Feb 7 2013, 07:47 PM