It sounds like it. Looks like the minority unit holders' interest is capped (can receive only lower amount) while the management got all the upside (if CPO price improves). Does this practice tantamount to "oppression of minority shareholder" in the Companies Act ?

The management should offer an option for all unit holders to fore-go (or reduction of) dividend for 2012, since the management says the profit is no good. Then the EGM should approve the management to find a buyer for the plantation. The proceed from sales of the plantation should be divided equally by the unit holders. This way, all parties share the risk (and potential gain, of course)

Based on what it is posted here, the management is open to criticism of being "taking advantage" of the minority unit holders by limiting their own risk, while open to the upside in the event that CPO price and fruits yield rates improve

But time is against the minority unit holders. Hope some of the unit holders are in the legal profession and can take steps to buy more time to appoint consultant who will be tasked to look into the exercise from the minority unit holders' interest point of view

I'm not going to be able to attend. I have not even received any letter yet.
How?

luckily i come to this thread often, else it might be too late to find out

What are we suppose to decide anyway? Anyone can list it out?


This post has been edited by scoop7: Jan 22 2013, 11:00 AM

simple, you are just required to agree or against the voluntary termination, thats all.

Page 8 Recommendation by Independent Adviser stated that if this proposal is not accepted, then the Trustee will have to call a meeting to determine the best course of action which may take considerable time. He underline "Growers may not be able to realize the full Grower's Fee invested."

Means if agreement is not reach for 10% in 30 days and 90% in 2 year time, investor might not even get back the invested money?

This post has been edited by chwong00: Jan 22 2013, 01:09 PM

does this mean, either way minor holders get screw?

the difference is if you dun follow their plan, you get SCREWED left right centre top and down.

So you think we should agree to it?

8th Feb dah balik kampung leh, how to attend?

i think no matter what they will get what they plan for...

Hi, I new to you guys. I also worried after reading the Notice in newspaper! I think better we go and listen to company. Then we decide whethet to follow their advice or not?

It seems cannot attached the scan circular (received yesterday) directly here in LYN. They shd make it available on CHGS website.

This post has been edited by mkhor7: Jan 22 2013, 02:34 PM

I also received this today.
If you read Page 7. Section 6.ii.
The Auditor said... we may have problem to get back full refund!!!!!!!

I will definitely reject the offer.
1. Pay 10% 30 days, 90 % is 2 yrs later.
2. no compensation.
3. Risk of no full refund
5. Other oil palm is doing well.. how come Tan Sri's is having problem?
6. who will they sell this piece land for? Are you just buy the piece of land for them? then they buy back with cheap price? Government should look into Tan Sri scam!

This post has been edited by truth_seeker_09: Jan 22 2013, 02:39 PM

if we reject the offer then can we get back our money anyway this really not looking good for us as all the condition they provide is really not fair to us.

download circular here 2.5MB

Edited
Another poster hyh78 has found it now available on CHGS website. Download this smaller size file.
Circular 0.85MB

This post has been edited by mkhor7: Jan 26 2013, 07:21 PM

My friend sold the scheme earlier and the company is suppose to pay my friend within stipulated time, 1month if I still remember correctly.

When my friend went to the office to collect cheque 1 month later, he was told the cheque was not ready because the person authorised to sign the cheque was overseas.

HALLO, that's 1 month time and cheque not yet ready? Customers don't care your internal problem. Terms and conditions have to be honoured.

Lost my trust on the boss since then...

Hope the Trustee will look after our interest as growers and give good advise.

If most are against then what will happen?

bring more rotten eggs into the general meeting

Complain to Bank Negara. Is this another scam?

yep we need more ppl to voice on the meeting if i am not in penang then i will go to the meeting..