We should not vote for the termination. Don't be afraid that we won't get back the 90% of our capital if we vote against.

If the manager can't do a good job of realising the assets to give back our capital in full instead of threatening us not giving us the full amount, why don't we replace the manager and appoint a trusted manager to continue run this scheme or at least realise a fair value for the shareholders? LKY does not have much stake on this company, so if we the minority shareholders can collaborate, we can have this to be under our control without need to follow the stupid advice from the independent advisor.

The only thing I can think of not getting back full amount of capital due to the assets were inflated with manipulation when the time the company sold their stakes with a higher cost to the minority shareholders.

By the way, the shareholders' meeting is too rush to be hold on 8 February and many shareholders are unable to attend the meeting. Maybe we could apply a court injunction to stop the meeting and request the company to hold the meeting after chinese new year.

I am now trying to gather support from minority shareholders to vote against the termination. Hope you all can do the same to defend our rights as minority shareholders.

This post has been edited by kinwing: Jan 23 2013, 10:26 AM

How Many here is victim?
Can head count?

I think what you are doing is good
But leaves even more questions on time

I am going to the Agm
Shareholders should go because they are invested in this. Need to make time else when the motion is pass don't complain

Go DreamCity seri kembangan
Clearwater group development
show house there make noise
His daughter development
Bang table

I got LKY's 3 daughters punya FB, but don't feel good to put their link here or else their pages will be flooded with complain, ahaha.

This post has been edited by kinwing: Jan 23 2013, 10:36 AM

I just create a CHGS group page in facebook. IS better to invite your friend or relative who invest on CHGS to join the group. so we can update the latest news immediately. It also help to gather more people.

http://www.facebook.com/ChgsGrouphttp://www.facebook.com/ChgsGroup

wow...u even created a new logo for it....impressive....LOL!

WAHHH... u targeting people's daughters?

No lah, they all married edi .

Marry also u know. Haha

Anyway, I feel the manager is not doing his job in protecting the interest of minoirty shareholders and give the promised yield of 8% to 12% as promised.

If the company terminate earlier and only returning our capital in 2 years later, most probably the company has breached the agreement of giving a guaranteed YTM of 8% to 12%, so we could sue the company on this basis.

Or we could just fire the manager and run the company by ourselves since the company has planted palm oil for almsot 5 years and I think it's time for us to ripe off the benefit from mature of palm oil yield by ourselves.

No way they can kick us out by getting cheap fund from us and sharing their risk to us in the initial stage and now try to kick us out when time to ripe fruits without sharing the return back to minority shareholders. A typical situation head you win, tail we lose!!!

This post has been edited by kinwing: Jan 23 2013, 11:02 AM

so most of u guy will vote against?

Guaranteed? Mere lip service if the guarantee is not backed by any assets

Yes we will vote against!

AGREED.

WTH IS THE MAJORITY HERE ACTING LIKE COWARDS? ALREADY TALKIN BS BOUT NOT GETTIN FULL AMOUNT & OTHER CRAP. GROW THE HELL UP & ACT MATURED.

- CHGS OWES US OUR 12% FOR THIS YEAR! THEIR MISMANAGEMENT IS OF THEIR OWN DOING. GLOBAL TRENDS SHOWED CONTINUED STRONG GROWTH FOR PALM OIL INTERESTS.
- EVERYONE SHOULD GET THEIR THEIR FULL CAPITAL REIMBURSED (IF IT COMES TO THAT) AND DEFINITELY XTRA COMPENSATION FOR EARLY TERMINATION. & NO STAGGERED LATE PAYMENT NONSENSE. 1 YEAR MAX.
- QUIT WORRYING BOUT STUPID BS LIKE NOT GETTIN FULL $ BACK, ETC. THAT WHY THERE'S A TRUSTEE.

DONT GIVE IN TO THE VOLUNTARY TERMINATION BS. LET/FORCE TRUSTEE TO APPOINT (QUALIFIED) INTERIM MANAGEMENT TO OVERSEE OPERATIONS & MAKE THIS A VIABLE SCHEME AGAIN. CHGS OBVIOUSLY NOT UP TO THE TASK & SHUD BE FORCED TO RELINQUISH TASK TO THOSE BETTER ABLE TO HANDLE IT.

WE MIGHT TAKE A SHORT TERM HIT, BUT SO WHAT... TELL CHGS TO FUK OFF NOW & WE CAN TRY TO IMPROVE THING WID NEW MANAGEMENT. THIS TIME WE'LL ENSURE NEW MANAGEMENT HAS GOT LIQUIFIABLE ASSETS TO ACT AS COLLATERAL IN CASE THINGS GET IFFY. WORSE COME TO WORSE - WE STILL HAVE LAND IN OUR NAME RIGHT? THAT IS ALWAYS A GOOD THING - FRUIT ORCHARD, CHICKEN FARM, ETC.

CHGS IS TRYING TO CREATE PANIC & GET PPL TO RELINQUISH LAND - SIMPLY COZ THEY WANNA ENJOY HUGE PROFITS BY BEING THE SOLE STAKEHOLDER.

SO, WAKE THE HELL UP, PPL. OUR INITIAL FUNDING HAS DONE ITS JOB - NOW TIME TO RIDE OUT THE STORM & ENJOY THE REWARDS. ONLY PIGS RUSH FOR SCRAPS.

Die die die lo. I really thought this investment was safe and good. Now another headache we have.

GOOD FOR YOU.

OTHER THINGS TO BE CONSIDERED.

- HAVE THEM POSTPONE AGM TILL LATER DATE & BETTER TIME (10 AM... WTF?!)
- IF AGM CANT BE POSTPONED, HAVE IT STREAMED LIVE ON YOUTUBE - NO EXCUSE! JUST NEED LAPTOP WID WEBCAM & WIFI... HOW THE HELL IS THAT HARD TO GET...?

- EITHER WAY, THERE NEEDS TO BE A VIDEO RECORD OF THE ENTIRE PROCEEDINGS.

MORE TO COME.

THE INVESTMENT IS ACTUALLY DECENT. JUST THE CHGS MANAGEMENT SUDDENLY GOT GREEDY & STUPID. THEY GOTTA GO.

I RATHER OWN THE LAND THAN RELINQUISH IT UNDER SUCH BS TERMS... IF ITS EVEN TRUE IN THE FIRST PLACE THAT THEY'RE FACING PROBS.

ANYWAY,

IF THEY ARE > APPOINT NEW MANAGEMENT. WE SUFFER A BIT TILL IT GETS GOOD AGAIN. ALSO, TAKE CHGS TO COURT FOR EARLY TERMINATION, CBT, CRIMINAL MISMANAGEMENT, ETC. AT THE VERY LEAST, TARNISH THEIR REPUTATION SAVAGELY. NO ELSE WILL FALL FOR THEIR FUTURE BS AGAIN.

IF THEY ARENT > THEN REALLY DESERVED TO BE TAKEN INTO COURT FOR WILFUL & FRAUDULENT MANIPULATION OF FINANCIAL DISCLOSURE RECORDS WITH THE AIM OF FINANCIAL GAIN.

Dear all, I just came to know that there's such thread exist on LYN for this GHGS, well, I do not have the time to go through the whole thread, at least I will view all the posts after the circular date i.e. 17 January 2013.

I personally not an investor in this, but my family members are, I have also just briefly read the circular a little, and according to my understanding from my dad about the scheme, I feel it's really a big rip off from the management, I personally think this termination is crap.

I feel like reading the "termination" clause of the scheme in the Trust Teed dated 2 March 2007, according to the circular, pursuant to clause 17.7, GHGS may voluntarily terminate by resolution passed by a majority in number representing ¾ in value of the Growers present in person or by proxy at that meeting.

Do anyone of you have sighted the trust deed before? This trust deed was draft in such a way that it only protect the majority shareholders.

Can we roughly know what are the numbers are we expecting at the meeting and the numbers of voting against this termination?
It says by a ¾ in value, I feel they themselves and their proxies would have already out-numbered everyone of us (minority) present at the meeting.

I feel it is time, for all the minority like us, to put up a fight/strong will to oppose against the big guns.

What are the consequences of not terminating this scheme?

I will join the facebook page later, cant access it in the office.

TO SETTLE THIS ISSUE ONCE & FOR ALL, BELOW IS THE EXCERPT FROM THE EMAIL BY MY AGENT. IT CLEARLY SAYS "FULL REIMBURSEMENT". SO PLEASE STOP POSTING NONSENSE ABOUT 'NOT RECOVERING FULL CAPITAL, ETC'. THATS ALL JUST BS... SO JUST STOP IT. BOTTOMLINE, WE'RE ALL GETTING FULL REIMBURSEMENTS.

ALSO, KEEP READING THE BELOW IN FULL TO SEE MY AGENT'S POV. I FOUNT THE PART BOUT 'vote AGAINST the proposed resolution, till it is changed to FULL CASH REFUND of our Capital within 30 days or according to period stipulated in the contract.' VERY INTERESTING. THIS MEANS ITS IN CHGS CONTRACT THAT WE MUST BE REFUNDED FULL AMOUNT WITHIN 30 days or according to period stipulated(?). GOOD TO KNOW!... WONDER WHEN IS THE STIPULATED PERIOD THOUGH > THATS ANOTHER GREAT POINT TO BE TAKEN UP AT THE MEETING!

"Dear Valued Investors,

It's sad to know that, CHGS is proposing voluntary termination of the scheme, meaning they will be refunding the full growers fee, whereby 10% will be paid within 30 days and the remaining within 2 years. They will be calling for a meeting for all growers on 8th Feb at 10am at the Mines Resort City's Convention Centre.

CHGS HQ had sent out the Circular for Volunteer Termination letter with a proxy form (as attached) ,it is important that all of us vote AGAINST the proposed resolution, till it is changed to FULL CASH REFUND of our Capital within 30 days or according to period stipulated in the contract. If u can't attend the 8/2/13 EGM, please make sure you send a proxy to attend so that your vote can be counted. 3/4 in value of the Growers present or by proxy are needed to pass a resolution. If you need detailed explanation please email or call me"