Thank you for the comments False Alias. This company does not have the money to pay us the dividends. They said they can't and therefore won't. It looks like their parent company won't either. The 12% interest rate is unrealistic if we base it on their earnings form this estate. The only way we can fight for it is if we sue them. This itself is complicated with so many shareholders.Even if we win they can just declare bankruptcy and we get nothing. Forget about ROI. Cut our losses and get out of this rotten marriage. Many people don't understand. All we have is a certificate that we own a share of the profits. WE DON"T OWN ANY land. This certificate is now near to being worthless because no one will buy our shares except this company. They are willing to do the less evil thing which is to buy it back. Take it. Do you want to be bounded to these jokers the next 20 years. ROI or not the mental and psychological stress is not worth it. I forsee if we continue this partnership, we will forever be arguing about the dividends they give us each year. Take out our principal. Cut our losses from potential ROI lost and invest it elsewhere like under our mattress.

to postpone the meeting, what action shall we take? write letter to them? pls forgive me that i am not high educate person. And bear in mind that, we may be the very low % of the minority grower that are access to the LYN forum. There are high % of uncle auntie that are not aware of our discussion. There may get affected by the proposal and vote yes.

Thank you for the comments False Alias. This company does not have the money to pay us the dividends. They said they can't and therefore won't. It looks like their parent company won't either. The 12% interest rate is unrealistic if we base it on their earnings form this estate. The only way we can fight for it is if we sue them. This itself is complicated with so many shareholders.Even if we win they can just declare bankruptcy and we get nothing. Forget about ROI. Cut our losses and get out of this rotten marriage. Many people don't understand. All we have is a certificate that we own a share of the profits. WE DON"T OWN ANY land. This certificate is now near to being worthless because no one will buy our shares except this company. They are willing to do the less evil thing which is to buy it back. Take it. Do you want to be bounded to these jokers the next 20 years. ROI or not the mental and psychological stress is not worth it. I forsee if we continue this partnership, we will forever be arguing about the dividends they give us each year. Take out our principal. Cut our losses from potential ROI lost and invest it elsewhere like under our mattress.

Precisely, we do not know who are all the Growers.  If its mainly from MCA Wanita contacts, then it is a foregone conclusion the outcome of the meeting.
PGCB made wrong assumptions about CPO prices and Kelantan sold them 10000 acres of land probably not ideal for oil palm plantation??
CHGS purpose was to allow us to partner PGCB up to year 2030.  But since CHGS agreement has to pay us yield based on CPO prices that has gone sky high, and the plantation is giving returns slower than what they had forecasted, PGCB do not want to dig into their own pocket. They want to get out of their covenant after making the wrong assumptions.

I am not insisting to bleed my "partner" -  CHGS now cost them 12 % every year for our RM200 million funding.
However, LKY group can easily raise RM200 million cheaper loan to buyback this "partnership".
Voting AGAINST could at least get us better faster refund terms.

Thank you for the comments False Alias. This company does not have the money to pay us the dividends. They said they can't and therefore won't. It looks like their parent company won't either. The 12% interest rate is unrealistic if we base it on their earnings form this estate. The only way we can fight for it is if we sue them. This itself is complicated with so many shareholders.Even if we win they can just declare bankruptcy and we get nothing. Forget about ROI. Cut our losses and get out of this rotten marriage. Many people don't understand. All we have is a certificate that we own a share of the profits. WE DON"T OWN ANY land. This certificate is now near to being worthless because no one will buy our shares except this company. They are willing to do the less evil thing which is to buy it back. Take it. Do you want to be bounded to these jokers the next 20 years. ROI or not the mental and psychological stress is not worth it. I forsee if we continue this partnership, we will forever be arguing about the dividends they give us each year. Take out our principal. Cut our losses from potential ROI lost and invest it elsewhere like under our mattress.

1st of all, being a gentleman, I would like to make a public apologize to False Alias for being rude last yesterday. Sorry.

2nd, I am fully agreed with what SabahMan said.
These are multi million dollar companies. What makes u think they are not gear up for a lawsuit? They can hire the best lawyer in the country if they want to.
Or maybe, they want to find an easy way out by EXPECTING ppl to sue them, when they don't want to ENTERTAIN us anymore, screw it, declared bankruptcy, we get nothing.
Just put urself in their shoes. If you are the company, wouldn't u do the same?
That's the power of the corporation. Like I said, it is unfortunately that this happens now.
I know many investors has enjoyed the dividends year after year, I myself too and suddenly the dividends are being cut off, everybody feels uncomfortable.
Sometimes thinking logically it much better than theoretically.

TQ FOR THE COUNTER POINTS, SabahMan.

IF IT CAME DOWN TO IT, ITS STILL BETTER TO VOTE AGAINST SIMPLY BECAUSE WE CAN AMEND THE TERMS SO MUCH BETTER.

THE NO ROI, 2 YEARS STAGGERED PAYMENT, ETC IS RIDICULOUS.

THEY DEF CAN DO BETTER - SO, A VOTE AGAINST TELLS THEM THAT EXACTLY > "NO, YOUR TERMS ARE UNSUITABLE & WOULD NEED TO BE AMENDED FURTHER IN OUR FAVOUR IN ORDER FOR US TO EVEN CONSIDER IT ACCEPTABLE".

GIVES US ROOM TO NEGO, INSTEAD OF ACCEPTING THE SCRAPS THEY'RE THROWING AT US.

LEGALLY, ANYTHING DONE 'VOLUNTARILY' BEARS NO CONSEQUENCE.

... & THIS IS DEFINITELY UNDER DURESS, THERE'S NOTHING VOLUNTARILY ABOUT THE WAY THEY'RE FORCING IT ON US.

The entire story just like using growers money to start the business and later when oppoutunity
then buyback all the plots at a very low price .....

Clearly understand any investment will have risk , but the issue is CPO price is so much higher than
the scheme .question remain the on the Yield ?

Dear All, We all agree this scoundrels cannot be trusted. Look at the reasons they gave us. Too many elephants. Too much rain. Soil not fertile enough. Price not good. Minimum wage. These are all ridiculous. It's as if Malaysia suddenly had too many elephants, rain and the soil suddenly turned infertile. These are all the type of excuses a con man would give you when he can't pay you back your money. It's a classic modus operandi of cheats. Promise high returns. High returns in the beginning to induce you to buy more and then cabut. Agree. we should terminate but get back our money much sooner than 2 years. It should be 50% now and 50% within the next 1 year but bottom line is we want to get out.

They are not running away.  The plantation is viable, just slower returns than expected and they used wrong assumptions in their calculations. 
PGCB is refunding the Grower fee, but at their term of two years without paying any further yield to us.  They can easily obtained loan at lower rates than 12% now, but Voting FOR means we allow them free use of our money for two years .

What is our strength? Are we hopeless?


CHGS being MCA Wanita linked cannot afford bad publicity now.  Chua Soi Lek should tell LKY to improve the refund terms.  Definitely not delay the balance to two years later.

Some may prefer an option to stay on with CHGS for the long term.  We can agree to revised the Fourth Schedule for a Win-Win position.

I am keep on writing and caling MCA hotline, hope all of us here can do so. Although 32 emails sent, none is reply, i still do the same.....

sorry,one more question here ..do we need to indicate the agreement no in the proxy form or just the no of plots of land that we bought? coz i have two proxy forms here.

will vote for AGAINST like what Falsealias and mkhor7 said, at least have chance to nego. and change the repayment period to a more reasonable time.

Another similar scheme by Golden Palm has its plantation at Gua Musang as well.

Do they face the same problems?

Beginning to like your ALL CAP, direct to the point...

It may be a foregone conclusion they will get their FOR votes.  LKY team up to the last Prospectus date of  12-June-2012 is still selling good points about CHGS.
What were their plannings and strategies since then ???