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 Country Heights Grower Scheme (CHGS), anyone heard before?

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Rubberban
post Feb 8 2013, 12:25 AM

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QUOTE(FALSEALIAS @ Feb 7 2013, 09:03 PM)
?!!!

WTH IS WRONG WITH EVERYBODY?

WHY THE PREMATURE VICTORY CELEBRATIONS?

ALL WE HAVE CURRENTLY IS A BUNCH OF WORDS THAT IS NOT ADMISSIBLE OR ENFORCEABLE IN COURT.

WITH NOTHING IN BLACK & WHITE - THIS IS JUST A WHOLE LOT OF RUBBISH TO SWAY VOTING DECISION.

THE PAPER MAY HAVE EVEN MISQUOTED HIM... THATS EXACTLY WHY PAPERS FREQUENTLY ISSUE RETRACTIONS!

LKY'S 'PERSONAL GUARANTEE' MEANS LESS THAN TOILET PAPER... I REMEMBER ANOTHER PERSONAL GUARANTEE TOO > 'INVEST IN CERTAINTY'... HOW DID THAT TURN OUT?

MAKE NO MISTAKE - LKY'S WORDS ARE USELESS IF NOT LEGALLY BINDING IN BLACK OR WHITE OR EVEN REALISTICALLY ENFORCEABLE (MEANING, WHAT HAPPENS IF HE DIES? OR DECLARES BANKRUPTCY? OR ABSCONDS TO A DIFF COUNTRY?OR IS FIRED/RETIRES/DECLARED INSANE/UNFIT TO CARRY OUT DUTIES... OR A THOUSAND OTHER LOOPHOLES THAT MAY MYSTERIOUSLY APPEAR LIKE THE PREVIOUS RAMPAGING ELEPHANTS, TEMPESTUOUS WEATHER, SUDDEN MAGICAL TERRAIN SHIFTS, ETC)

...HAVE WE NOT HAD ENOUGH OF HIS BULLSHIT?

WHY DID HE SUDDENLY DECIDE TO OFFER 'RM25 million' AND 'I will ensure that the growers will be compensated within six months instead of the two year timeline stipulated in the circular.'?

IF HE TRULY MEANT 'out of goodwill' > BOTH THE ABOVE WOULD/SHOULD HAVE BEEN IN THE VERY INITIAL AGM LETTER!!!

SO, WHY THE SUDDEN LARGESSE IN THE LAST MINUTE?

...SIMPLY COZ HE WAS CALLED ON HIS BULLSHIT SHODDY BULLYING UNDERHANDED TACTICS & KNOWS THAT THERE'S NO WAY HE'S GONNA GET MAJORITY NOW - SO BETTER CHANGE TACTIC & GIVE BS NON-ENFORCEABLE VERBAL ASSURANCES & TRY TO PERSUADE FOOLS TO BITE THE BAIT SO HE CAN GET THE VOTES.

HAS ANYONE EVEN CALCULATED WHETHER 'RM25 million' IS ENOUGH TO COVER THE 12% DIVIDEND FOR ALL GROWERS? PLEASE DO SO & POST UR FINDINGS HERE.

BOTTOMLINE:

VOTING AGAINST VT ONLY STRENGTHENS OUR ABILITY TO GET OUR 12% DIVIDEND & ROC WITHIN 6 MONTHS, AS WE'LL BE THE ONES HOLDING THE POWER & CAN DICTATE THE VT TERMS (WHICH LKY HAS ALREADY SO-CALLED AGREED TO BASED ON THE ARTICLE - MEANING ITS A SLAM DUNK FOR US ANYWAY... WITH THE DIFFERENCE BEING WE STILL RETAIN THE POWER IN CASE HE TRIES ANYTHING IN THE LAST MINUTE). SO, VOTING AGAINST VT IS INSURANCE FOR US TO ENSURE LKY COMPLIES & FULFILS WHAT HE SAYS IN THE ARTICLE -  BECAUSE WE'RE THE ONES IN CONTROL!

VOTING FOR VT ONLY WEAKENS OUR POSSIBILITY TO GET WHAT WE WANT AS (CURRENTLY) IT'S ONLY MERE WORDS BY LKY & NOTHING IS LEGALLY BINDING. HE CAN JUST AS EASILY RELEASE A PRESS STATEMENT LATER SAYING, "I CHANGED MY MIND. TOO BAD. HAPPY CNY"... AND THERE'S NOTHING WHICH CAN BE DONE AS WE HAVE GIVEN AWAY OUR ONE AND ONLY (ALL POWERFUL!) BARGAINING CHIP. CHGS WOULD THEN HOLD THE ENTIRE POWER - & WE'D HAVE NO INSURANCE AGAINST THEM TO ENSURE COMPLIANCE... & LETS NOT FORGET THEIR HORRIFIC RECENT TRACK RECORD OF NOT HONOURING THEIR WORD/TRYING TO TAKE ADVANTAGE OF US... NEED I SAY MORE?

LOOK, IF LKY REALLY MEANT TO GIVE US 12% & A FULL ROC WITHIN 6 MONTHS - ALL HE HAD TO DO WAS CALL OFF THE AGM TOMORROW, REWRITE THE TERMS OF THE VT TO INCLUDE THE LATEST 2 AMENDED PROVISOS, GIVE US OUR 21 DAYS AGM NOTICE & THEN PROCEED TO HAVE A VOTE UNDER THE NEW VT TERMS.... DID HE DO THAT.... NO!

END OF THE DAY, YOU MAKE YOUR OWN DECISIONS & YOU LIVE WITH THE CONSEQUENCES.
*
Bro, can you please cool down? Be practical please, when u vote AGAINST, what will happen? what control did u get? the trustee will involved in and NOBODY knows what will happen, u face the possibility of not getting ur initial invested money also.

Tan Sri already made his statement on the newspapers/media, i bet he as the tycoon and one of the leader in property, he would not gamble his reputation like that, obviously everyone will chase after him if he did not fulfill his promise.

So, why dont we be practical a bit? just get back the dividend last year and the full refund within 6-month, whether u still believe in him or not, that is another story, getting back the cash on hand is the most important thing.

One more thing, u thought calling off an AGM is so easy? those people traveled from penang or even sabah, r u going to compensate them?

xxx2299
post Feb 8 2013, 03:13 AM

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QUOTE(FALSEALIAS @ Feb 7 2013, 09:03 PM)
?!!!

WTH IS WRONG WITH EVERYBODY?

WHY THE PREMATURE VICTORY CELEBRATIONS?

ALL WE HAVE CURRENTLY IS A BUNCH OF WORDS THAT IS NOT ADMISSIBLE OR ENFORCEABLE IN COURT.

WITH NOTHING IN BLACK & WHITE - THIS IS JUST A WHOLE LOT OF RUBBISH TO SWAY VOTING DECISION.

THE PAPER MAY HAVE EVEN MISQUOTED HIM... THATS EXACTLY WHY PAPERS FREQUENTLY ISSUE RETRACTIONS!

LKY'S 'PERSONAL GUARANTEE' MEANS LESS THAN TOILET PAPER... I REMEMBER ANOTHER PERSONAL GUARANTEE TOO > 'INVEST IN CERTAINTY'... HOW DID THAT TURN OUT?

MAKE NO MISTAKE - LKY'S WORDS ARE USELESS IF NOT LEGALLY BINDING IN BLACK OR WHITE OR EVEN REALISTICALLY ENFORCEABLE (MEANING, WHAT HAPPENS IF HE DIES? OR DECLARES BANKRUPTCY? OR ABSCONDS TO A DIFF COUNTRY?OR IS FIRED/RETIRES/DECLARED INSANE/UNFIT TO CARRY OUT DUTIES... OR A THOUSAND OTHER LOOPHOLES THAT MAY MYSTERIOUSLY APPEAR LIKE THE PREVIOUS RAMPAGING ELEPHANTS, TEMPESTUOUS WEATHER, SUDDEN MAGICAL TERRAIN SHIFTS, ETC)

...HAVE WE NOT HAD ENOUGH OF HIS BULLSHIT?

WHY DID HE SUDDENLY DECIDE TO OFFER 'RM25 million' AND 'I will ensure that the growers will be compensated within six months instead of the two year timeline stipulated in the circular.'?

IF HE TRULY MEANT 'out of goodwill' > BOTH THE ABOVE WOULD/SHOULD HAVE BEEN IN THE VERY INITIAL AGM LETTER!!!

SO, WHY THE SUDDEN LARGESSE IN THE LAST MINUTE?

...SIMPLY COZ HE WAS CALLED ON HIS BULLSHIT SHODDY BULLYING UNDERHANDED TACTICS & KNOWS THAT THERE'S NO WAY HE'S GONNA GET MAJORITY NOW - SO BETTER CHANGE TACTIC & GIVE BS NON-ENFORCEABLE VERBAL ASSURANCES & TRY TO PERSUADE FOOLS TO BITE THE BAIT SO HE CAN GET THE VOTES.

HAS ANYONE EVEN CALCULATED WHETHER 'RM25 million' IS ENOUGH TO COVER THE 12% DIVIDEND FOR ALL GROWERS? PLEASE DO SO & POST UR FINDINGS HERE.

BOTTOMLINE:

VOTING AGAINST VT ONLY STRENGTHENS OUR ABILITY TO GET OUR 12% DIVIDEND & ROC WITHIN 6 MONTHS, AS WE'LL BE THE ONES HOLDING THE POWER & CAN DICTATE THE VT TERMS (WHICH LKY HAS ALREADY SO-CALLED AGREED TO BASED ON THE ARTICLE - MEANING ITS A SLAM DUNK FOR US ANYWAY... WITH THE DIFFERENCE BEING WE STILL RETAIN THE POWER IN CASE HE TRIES ANYTHING IN THE LAST MINUTE). SO, VOTING AGAINST VT IS INSURANCE FOR US TO ENSURE LKY COMPLIES & FULFILS WHAT HE SAYS IN THE ARTICLE -  BECAUSE WE'RE THE ONES IN CONTROL!

VOTING FOR VT ONLY WEAKENS OUR POSSIBILITY TO GET WHAT WE WANT AS (CURRENTLY) IT'S ONLY MERE WORDS BY LKY & NOTHING IS LEGALLY BINDING. HE CAN JUST AS EASILY RELEASE A PRESS STATEMENT LATER SAYING, "I CHANGED MY MIND. TOO BAD. HAPPY CNY"... AND THERE'S NOTHING WHICH CAN BE DONE AS WE HAVE GIVEN AWAY OUR ONE AND ONLY (ALL POWERFUL!) BARGAINING CHIP. CHGS WOULD THEN HOLD THE ENTIRE POWER - & WE'D HAVE NO INSURANCE AGAINST THEM TO ENSURE COMPLIANCE... & LETS NOT FORGET THEIR HORRIFIC RECENT TRACK RECORD OF NOT HONOURING THEIR WORD/TRYING TO TAKE ADVANTAGE OF US... NEED I SAY MORE?

LOOK, IF LKY REALLY MEANT TO GIVE US 12% & A FULL ROC WITHIN 6 MONTHS - ALL HE HAD TO DO WAS CALL OFF THE AGM TOMORROW, REWRITE THE TERMS OF THE VT TO INCLUDE THE LATEST 2 AMENDED PROVISOS, GIVE US OUR 21 DAYS AGM NOTICE & THEN PROCEED TO HAVE A VOTE UNDER THE NEW VT TERMS.... DID HE DO THAT.... NO!

END OF THE DAY, YOU MAKE YOUR OWN DECISIONS & YOU LIVE WITH THE CONSEQUENCES.
*
I second what you have said.

Spoken words bear no meaning in this issue.

An undertaking letter by LKY stating what he said is vital.
xxx2299
post Feb 8 2013, 03:37 AM

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QUOTE(Rubberban @ Feb 8 2013, 12:25 AM)
Bro, can you please cool down? Be practical please, when u vote AGAINST, what will happen? what control did u get? the trustee will involved in and NOBODY knows what will happen, u face the possibility of not getting ur initial invested money also.

Tan Sri already made his statement on the newspapers/media, i bet he as the tycoon and one of the leader in property, he would not gamble his reputation like that, obviously everyone will chase after him if he did not fulfill his promise.

So, why dont we be practical a bit? just get back the dividend last year and the full refund within 6-month, whether u still believe in him or not, that is another story, getting back the cash on hand is the most important thing.

One more thing, u thought calling off an AGM is so easy? those people traveled from penang or even sabah, r u going to compensate them?
*
I sent in my proxy marked Against before 6/2/2013. How can my proxy vote For now? No logic lah, this LKY.

Bro, newspapers/media in Malaysia often "mis-quote" statements, so there is no guarantee the same would not happen especially in this case.

My did a very very quick background research on LKY and end result suggested not to invest in CHGS, but my dad dont listen and quietly invested. I really hope I was wrong in my research, but this VT event only proofs me right.

This post has been edited by xxx2299: Feb 8 2013, 03:44 AM
sam sam
post Feb 8 2013, 06:58 AM

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So most important how many for and how many against this for today's Agm
squall_12
post Feb 8 2013, 08:58 AM

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kudos to all growers to make tan sri panic hahah nice one.
tgeoklin
post Feb 8 2013, 09:10 AM

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QUOTE(Rubberban @ Feb 8 2013, 12:25 AM)
Bro, can you please cool down? Be practical please, when u vote AGAINST, what will happen? what control did u get? the trustee will involved in and NOBODY knows what will happen, u face the possibility of not getting ur initial invested money also.

Tan Sri already made his statement on the newspapers/media, i bet he as the tycoon and one of the leader in property, he would not gamble his reputation like that, obviously everyone will chase after him if he did not fulfill his promise.

So, why dont we be practical a bit? just get back the dividend last year and the full refund within 6-month, whether u still believe in him or not, that is another story, getting back the cash on hand is the most important thing.

One more thing, u thought calling off an AGM is so easy? those people traveled from penang or even sabah, r u going to compensate them?
*
What reputatation you talking about here??? rclxub.gif

As mentioned in previous post, he already knows the answer since all the proxy forms submitted as of yesterday. Further, if he has got 25M, can always inject it into the company and pay up 2012's dividend, then reissue notice of meetings. Then got plenty of time instead of rushing, must be he does not want us to think but blindly accept his offer hmm.gif

I don't buy his story one bit yawn.gif
cfa28
post Feb 8 2013, 09:14 AM

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If I were a Grower, I would Vote AGAINST and I would advice all growers attending the AGM to vote AGAINST.

If you believe the newspaper, LKY said that based on the proxies received representing 15% value, only 50% votes FOR. Hence, if the ppl attending vote AGAINST, the VT is dead.
prophetjul
post Feb 8 2013, 09:29 AM

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AAS i i have mentioned before

LKY's objective to to kick out the growers as he wants the plantation.

His objective is to pay them their investment back and div 2012.

He starts low......by proposing payabck over 2 years...no divs

Now he says 6 months and divs?

He is slowly getting to his target fo getting the plantation for a song since the yeilds will rocket up and operation costs reducing due to the maturityof the trees....

The SUIYEE growers will say YESSSSS to VT because they got their $$$ back..........very happry.

LKY is happier.....he gotta plantation for a song

Thanks very much all the SUIYEE growers........thanks for the startup cap.....now i am going to chase the elephants away and reap my yields! smile.gif
prophetjul
post Feb 8 2013, 09:32 AM

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QUOTE(squall_12 @ Feb 8 2013, 08:58 AM)
kudos to all growers to make tan sri panic hahah nice one.
*
You think LKY is panicking?...........you are a suiyeee.....

Hes gonna get a plantation for a song nod.gif


hyh78
post Feb 8 2013, 10:14 AM

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can anyone attending the AGM now pls help update on the status? how did it go? many ppl show up or not? I believe it's already started now...sorry, I'm all the way from Pg, can't attend it sad.gif
alantanblog
post Feb 8 2013, 11:33 AM

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About 1,300 investors involved in the Country Heights Growers Scheme have turned up at Friday's meeting to decide on the proposed voluntary termination of the scheme.

The meeting is expected to start at 11am and the turnout was higher than anticipated, according to the StarBiz reporter at the MINES centre in Seri Kembangan, Selangor.

In total there were 10,000 shareholders involved in the scheme and the scheme had raised funds of RM215.5mil since 2007.

Some representatives from the Minority Shareholders Watchdog Group (MSWG) have also arrived.

QUOTE
http://biz.thestar.com.my/news/story.asp?file=/2013/2/8/business/20130208110825&sec=business

squall_12
post Feb 8 2013, 11:47 AM

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keep us update on the meeting. thanks
cckkpr
post Feb 8 2013, 11:50 AM

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QUOTE(prophetjul @ Feb 8 2013, 09:29 AM)
AAS i i have mentioned before

LKY's objective to to kick out the growers as he wants the plantation.

His objective is to pay them their investment back and div 2012.

He starts low......by proposing payabck over 2 years...no divs

Now he says 6 months and divs?

He is slowly getting to his target fo getting the plantation for a song since the yeilds will rocket up and operation costs reducing due to the maturityof the trees....

The SUIYEE growers will say YESSSSS to VT because they got their $$$ back..........very happry.

LKY is happier.....he gotta plantation for a song

Thanks very much all the SUIYEE growers........thanks for the startup cap.....now i am going to chase the elephants away and reap my yields!    smile.gif
*
He will modify the operasi elephant in East Malaysia so they will not die AND laugh all the way to the bank with the SUIYEE consent.

It was really a masterplan that trapped the innocent investors. He has the "brains" but use it in a way that people are not really happy with. You need not study much if you are intellectually smart esp in the business world.
alantanblog
post Feb 8 2013, 12:55 PM

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Flash - CHGS termination has over 50% support at heated EGM, but could be void due to inclusion of new conditions
cfa28
post Feb 8 2013, 01:00 PM

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You need 75% support to pass.
adaman
post Feb 8 2013, 02:32 PM

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dear fellow growers, has the meeting ended? can someone please kindly update outcome?

thanks, and happy cny.
leehf
post Feb 8 2013, 02:35 PM

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QUOTE(cfa28 @ Feb 8 2013, 01:00 PM)
You need 75% support to pass.
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Hopefully can pass 75%.
with this condition :
12% dividend payment,
10% of the capital to be returned in one month and the remaining portion in six months' time.
cfa28
post Feb 8 2013, 02:49 PM

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Latest from STAR - News seems incomplete and I think there is an error. Says only 8.49% voted for VR. Is it 84.9% or 8.49%



KUALA LUMPUR: Tan Sri Lee Kim Yew, the founder of Country Heights Growers Scheme (CHGS), had during Friday's morning meeting with the shareholders gave his personal commitment of RM25mil as a ”goodwill package”.

The meeting, which saw more than 1,300 scheme investors attending, he was also to put his commitment in writing by the trustee of the company.

An investor had proposed the meeting to be adjourned to a later date.

The investors of the scheme also requested Lee's personal commitment on the goodwill package and payment be made within six months.

As at about 12.30pm, 8.49% of the investors had voted for the termination

leehf
post Feb 8 2013, 04:19 PM

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QUOTE(leehf @ Feb 8 2013, 02:35 PM)
Hopefully can pass 75%.
with this condition :
12% dividend payment,
10% of the capital to be returned in one month and the remaining portion in six months' time.
*
Anymore update so far?
mengTH888
post Feb 8 2013, 05:03 PM

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I just came back from the meeting.

LKY gave his personal assurance he will pay the ANGPOW abt 12%(more than I expected) and full capital refund within 6mths witness by abt 1000 plus growers.

All talks are recorded and filmed.

Trustee requested for written black n white from LKY for his assurance. LKY lawyer assured all growers abt LKY personal assurance but some growers want to adjourn the meeting bcos don't trust his personal assurance.

But I believed the LKY is a honest guy. He alrdy appeared so many press conference to give his assurance.

He never runaway from this problem, unlike some other conman. He just want to "STOP LOSS" before the losses become too great and all will suffered.

I voted for the termination even the new proposal was not written in paper bcos I don't thing he will absconded we our hard-earned money.

So TAN SRI LKY, I trust you this time, pls dont upset us.








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