hey guys, must warn you guys this.

On the proxy form, read the Notes (1):-

A Grower of CHGS entitled to attend and vote at the meeting is entitled to appoint to a proxy to attend and vote in his stead. A proxy appointed must be a Grower of CHGS.

in the event they cant sell the land this represents worst case scenario.
the unaudited assets divided by the amount refunded
they can only refund in full if they sell the land succesfully at 129 million or higher
again this is the worst case scenario.

Deeply understand your feeling. I am complaint to the MCA website every 5 minute. Hope you can do so.

QUOTE(sam sam @ Jan 23 2013, 03:49 PM)
in the event they cant sell the land this represents worst case scenario.
the unaudited assets divided by the amount refunded
they can only refund in full if they sell the land succesfully at 129 million or higher
again this is the worst case scenario."


at least someone is talking sense....read the details figures inside the circular

WZUP mkhor7

All buyers are very angry and disappointed with this Proposal by PGCB.  Until the meeting day, many of us are still confused and grieving over our imminent losses. > EXACTLY. SO THERE'S NEED TO CREATE UNNECESSARY PANIC. IF PPL ARE STATING OPINIONS, CLEARLY SAY ITS OPINION. DUN ACT LIKE ITS FACT.

But please, fellow forum members here do not need harsh words. > OH, I NEVER INSTIGATE SALTY LANGUAGE. BUT AM MORE THAN HAPPY TO RETALIATE WID EM.

CHGS by their action is throwing the contract covenants into the bin because they claim no foreseeable profitability from the CHGS plantation, and they do not want to "subsidy" from their other plantation and business.  Money talks louder than their dignity. > BOTTOMLINE, SCHEME SHUD BE TRANSFERRED BY TRUSTEE TO A VIABLE PARTY WHO CAN BRING IT UP AGAIN. FAILING THAT, FULL CAPITAL REMUNERATION & 12% ROI WITHIN A MAX 1 YEAR PERIOD IS A MUST. WORSE CASE SCENARIO > WE STILL OWN THE LAND.

Our best strategy now could be vote Against their Proposal, then use the meeting to find alternative solutions.  Be prepared for more meetings after CNY with the Trustee and PGCB. > AGREED! NO WAY IT WILL BE RESOLVED IN 1 MEET.

One sure thing by voting Against is that CHGS must pay us 2012 yield of 12% due on Valentine Day Feb-14. > EXACTLY. NOW, WHY CANT THE REST GRASP THIS SIMPLE CONCEPT...?

The RM129million is definitely conservative as it is a valuation dated Oct-2010.  Latest expert report on the estate was dated Mar-2012 in the Prospectus that you can download from CHGS website.  Yes it seems they can easily refund us in full within 2 years with the sales proceed of the land.  But is getting a refund within the first 8 years the original purpose of us investing in this CHGS?

i believe they should not have issues to sell the land at 129 million since its oct 2010
but they need to find a buyer for the land.

If i am a buyer why would I want to buy a land that had a fail palm oil plantation. the risk is that a new buyer may value the land lower.

I would like to continue receiving dividends as that was my plan but if the mother company is up to something will like to cut losses and move on to other investments

Friends, I am one of the disappointed. Truth be told. This scheme was a scam from the beginning. It. Was too good to be true but I did not trust my better judgement. I was forewarned to be careful about. LKY. Everyone i have spoken to immediately told me he has a black name. So I want to BAIL OUT NOW! Cut my losses.  Demand they give back our principal as soon as possible. Don't harbour any ILLUSIONS of any future profit with this faecal venture. For those who want to continue, hey..have you seen any of the oil palm trees yet? It is a scam. Buy land cheap ,  elevate expectations, promise at least 12 percent interest and sell the land for twice the price. Brothers, only a cheat will promise guaranteed income and only fools would believe. We were fools! This guy is a known con man. I WANT TO GET OUT OF THIS TITANIC now.

OMG. THEY HAVE TRUSTEES & ARE BACKED BY A BANK, MAN.

& PPL HAVE INDEED SEEN THE PALM OIL. FIRST BATCH OF BIG BUYERS WERE GIVEN A FULL TOUR, HELICOPTER RIDE, ETC.

CHEER UP - IT AINT AS BAD AS U THINK.

JUST GOTTA STAY CALM & PROCEED IN THIS MATTER WITH A COOL HEAD & PROPER FACTS.

Hi All Growers

Imagine going into the meeting...and the winning vote is AGAINST the Proposal...

Meeting could then be adjourned or continued on to determine the next course of action...

What if PGCB now announced it cannot pay 2012 yield of 12% as hinted by the expert Andrew Heng in his "Recommendation" on page 8 Part B of the Circular?
PGCB must already has at least 5% cash in hand and 5% in Investment with Trustee since the Proposal requires 10% payment within 30 days.
  Do we accept 5% yield or insist they must pay the first 5% part on due date, then balance 7% later ?...

What would be the revision of terms that we can accept, especially the yield A based on average CPO price ?  Maybe temporary reduced this yield A rate ?
Above is going much ahead, and actual event can be otherwise, but it's good to be prepared.

Some forum members here are saying we get in a new management company to take over the CHGS plantation, but this could be time consuming, costly and unproductive as the new teams would unlikely give us good terms.  As the trustee only know about sitting behind a desk, who will the trustee appoint? It is more beneficial to stick with current team if we want long term results.  Suggest that we do not go into termination or winding up the scheme even on different terms.  We buy into CHGS because we want to partner a palm oil plantation venture here.  If the plantation now is in bad shape and some trees were lost, allow the current team some time to restore it.

I feel the Board of PGCB made this VT Proposal because they do not the money now to pay 12% without losing a small piece of their shirt.  And if the plantation is as bad as they claimed, it has no means to pay us 10% to 12% yield on every Valentine Day up to year 2030.

We cannot run this estate ourselves.  Our current management team want to bail out. What is we continue and our directors reallly bail out ? Then what do we do? Who is going to organise a new management team? Get out now. Grab the 24+percent we have earned the past 3 years.