again how many growers is going for the AGM ?
no point to have earlier meeting if number of growers going for the AGM is low.
Very likely it will Country Heights will succeed in their motion

sam sam, we have to win the vote against termination terms that take up to two years to return 90%.
We need to have at least 25% to win the vote by Growers and Proxies in total.
People's Power need as many as possible the number of Growers proxies.

Contact your sales agent to help in informing them to send their Proxy forms to appoint a Growers to act as proxies at the meeting.

There are some Growers who do not know who can be their proxy, can a group of Growers who will be attending the meeting offer to do this? We need a place to send the signed form to , then our attending Growers will filled in their name as proxies before submitting the forms to PGCB before the deadline. THIS IS VERY IMPORTANT for us to get enough votes!!! Who can help organise this group of Growers to act as proxies???

One suggestion could be MSWG office as the address to send our signed proxy form, but we need their permission.

Update:
MSWG has given their support and permission! Please send your proxy form to their office fast! Thanks a lot.

This post has been edited by mkhor7: Jan 31 2013, 08:47 PM

After Tan Sri LKY "INVESTMENT OF CERTAINTY" become "INVESTMENT IN PANG SAI CHUA" and cause all nation Growers in worrying state n difficult situation/depress/cannot sleep well/cannot makan well/cannot pangsai well and etc.....Now come another new similar scheme

Who dare to participate? KAKALAI ..... KAKASEEE

http://biz.thestar.com.my/news/story.asp?f...32&sec=business

Golden Agro offers 70% of grower plots to public

KUALA LUMPUR: Golden Agro Plantation Sdn Bhd has allocated 70% of the grower plots, or 29,240 plots, to the public to participate in its Golden Agro Growers Scheme.

Its chief executive officer, Datuk Allan Lim Kim Huat, said the management would retain 30% of the plots in the plantation in Mukah, Sabah.

"Each plot is equivalent to 1/4 acre and will be offered at RM8,000 each. "The scheme offers a guaranteed 7% returns for the first five years (projected at different palm oil prices).

"Currently, the price for the commodity is around RM2,300 a tonne," he said at the soft launch of the scheme here on Tuesday.

Lim said one ha of oil palm could produce four to 5.5 tonnes of crude palm oil (CPO) annually, which made it five to 10 times more efficient than any other commercially-known oil crop on a per ha basis.

He said Malaysia accounted for 39% of the total CPO production and 44% of total world exports.

"If we take into account all other oils and fats produced in the country, Malaysia accounts for 12% and 27% of the world's total production and exports of oils and fat respectively.

"Therefore, as one of the largest producers and exporters of palm oil products worldwide, Malaysia has a very important role to play in fulfilling the rapidly-expanding global demand for oils and fats," he said.

He said the Companies Commission of Malaysia has approved the scheme.

Subject to availability of the plots, there was no limit to the number of plots each investor could subscribe to.

"The plots are freely transferable after two years," he said.

Lim said 100% of the audited net profit would be distributed from year six onwards until the maturity of the plantation in 20 years.

The share of net proceeds from the sale of plantation land then would be distributed upon maturity, he said.

On the choice of the land in Mukah, he said, there was no need for investors to worry as the land was safe and free from the wild animals. - Bernama

Hhahahahahaha

At least one less excuse for them to terminate later right?

Last day of lodgement of form of Proxy is on 6th February 2013 at 10 am. This means the last date you can send the form of proxy to attend the AGM is probably by 3/02 or 4/02 (if send by overnight courier).

This means you have exactly 5 days to do so...get cracking...

Please note that a proxy appointed MUST be a grower and not anyone you like...

This post has been edited by gark: Jan 29 2013, 06:54 PM

The land is free from wild animals...got elephants or not???

CHGS latest prospectus has on pages35 to 51 their audited a/c to 2010. It show PGCB has good revenue from both their LahadDatu and GuaMusang plantations at RM11.9Millions giving Operating Profit of RM3.9M combined, 33% margin. In the termination Circular, they claimed as "extracted audited" figures for GuaMusang plantation as RM0.7M revenue and Operating Loss RM1.2M. By deduction, their LahadDatu estate would be RM11.2M with Operating Profit of RM5.1M , fantastic 46% margin !!!



Figures don't look right for GuaMusang estate. Why the expert independent advisers Andrew Heng and Ong Tee Chin did not notice this?

This post has been edited by mkhor7: Jan 29 2013, 08:20 PM

very smelly..........so why the negative projection?

i believe all this tan sri or datuk see many "water fish" in malaysia, so promote the same product to catch those "water fish" who are not CHGS's grower

I need assistance:
Mine is a joint name with my mum, I am going to the 8/2 meeting but she is not, does she need to appoint me as her proxy?

How to sign & fill-up the proxy form? First time doing proxy and cannot get it wrong.

It is okay to use photocopy form.

It my opinion that a Joint name can attend and vote at the meeting by as one person. Any other kind people here can confirm this ?
However, it should be no defect for your mum to appoint you as her proxy and lodge the form with their office by 6-Feb

You must ensure all Joint Name persons and a witness must sign at the proper place with name and IC no.



This post has been edited by mkhor7: Jan 29 2013, 11:26 PM

You and your mom sign as joint shareholders to appoint you as the proxy will be fine.

Thanks! We need more proxy form signed by those who cannot attend , and Growers who can attend to volunteer as proxy.

More details the next few days by KL/Selangor growers. It is EMERGENCY as proxy forms must reach us by Tuesday Feb-5 latest or send directly to reach PGCB office by Feb-6 morning.

Have we complained officially to SSM regarding CHGS's winding up. The Govt. regulators need to intervene to safeguard the minorities.

Secondly CHGS did not mention what is the Growers price they are paying back. Understand the initial Growers fees was RM5000/lot. Their latest Prospectus dated early 2012 give the Growers fees at RM10,000/lot. Are we getting the original invested fees or should we not get the latest Fees/lot.

As mentioned earlier the 2012 Prospectus is highlighted below. Please read up their full proposal in their web site.

PLENTIFUL GOLD-CLASS BERHAD
Incorporated in Malaysia (Company No: 576102-V)
PROSPECTUS
(ISSUED PURSUANT TO SECTION 90 OF THE COMPANIES ACT, 1965)
OFFER FOR SUBSCRIPTION OF OIL PALM GROWER'S PLOTS
THIS PROSPECTUS IS DATED 8TH JUNE 2012 AND EXPIRES ON 7TH DECEMBER 2012

1.1 Prospectus
The Management Company is the registered lessee of the Land and proposes to establish the Scheme as an oil palm sharefarming scheme in respect of 10,000 acres comprising the Plantation for a period of twenty-three (23) years commencing from the Planting Date and expiring on the Maturity Date.
The Scheme will involve the offer to the public for subscription of Grower’s Plots in respect of and, connected to the Plantation. Each Grower’s Plot interest is connected to a ¼ - acre plot within the Plantation. The Grower’s Plots are established pursuant to Section 84(1)(b) of the Companies Act 1965.
The Grower’s Plot had a subscription price of Ringgit Malaysia Five Thousand only (RM5,000-00) at the Initial Launch and all subsequent Grower’s Plots will be at such price as shall be stipulated by the Management Company from time to time based on market forces. With effect from the date of this Prospectus, the revised subscription price of each Grower’s Plot shall be Ringgit Malaysia Ten Thousand only (RM10,000.00)
As at the date of this Prospectus, the Management Company has established forty thousand (40,000)
Growers’ Plots under the Scheme of which thirty six thousand (36,000) Grower’s Plots are intended for public subscription and remaining four thousand (4,000) Growers’ Plots are designated as Reserved Grower’s Plots not for subscription and may be released for public subscription only upon the approval of the Registrar of Companies.

Cheap opex money for the managemnet.......

Rm5k for QTR acre! WOW! Thats RM20k per acre or Rm49.4 per hectare! Wishhhhhhhhhhh!

At that price you could OWN the land and pay for the startup as well!

ScrewED from the beginning.........

I myself not a Grower but assisting those who complain the proposed termination.

I am wondering why so many investors got into this scheme with such a high cost of RM49k per hectare, some more put money into the mouth of LKY . With such a high cost, CHGS owed the Growers $ without having enough asset to back the claim, no wonder the IA mentioned Growers may not be able to get back your principal in full, so Growers are screwed from the beginning is true .

When I 1st come to know CHGS, I don't even really bother to read more on the brochure even it looked attractive with guaranteed return, as I totally avoid any scheme launched under the deck of LKY. This is a lesson we should learn that never trust big croc.

This post has been edited by kinwing: Jan 30 2013, 09:08 AM

These Bizmen like Sheeples........they dont know the in and outs of the biz..........

The marketing ploy


a) GUARANTEED payouts

b) 7% better than FD

c) GROWing divs

BUT they dont see the micro perspectives

This post has been edited by kinwing: Jan 30 2013, 09:18 AM

We only hv limited time for tonight meeting in YMCA Penang, my suggestion below :

Agenda Mins
1 Introduction - current situation 20
2 Set Direction (obviously AGAINST the resolution) 1
3 S.W.O.T analysis 45
a. Strength (how many Plots we are holding………etc)
b. Weaknesses (no heahd, no fund, not organized……….etc) c. Opportunity (support / help from MSWG, Politicians, Legal advisor + continue receive the deividen until 23rd year + share of sale of land………etc)
d. Threat (risk of no return of capital invested ??........etc)
4 Participant voices / Arguement 20
5 Go / No go decision (AGAINST the resolution) 5
7 If Go 30
a. Appoint spoke person + committee and get contact with other location (Ipoh, KUL….etc)
b. How to fill in the Proxy form (attend / not attend the meeting on 08 Feb)
c. Those cannot attend, pass the form to who ?
d. Take contact of participants
e. AOB
f. Next meeting (venue + time)
8 If No Go - we go for supper and Good Night !
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