I've just come to know of this CHGS from a Maybank mailer, guess i did not notice any of CHGS earlier marketing efforts.

As i'm very interested to know more before putting in my money, much online research was done.  My conclusions are :

1.  CHGS is to fund the Management Company(MC) in their project of a 10,000 acre oil palm plantation.  For each plot of RM5.5k fee, 29% is set aside to give us the initial returns of 8%x3yrs and 5% kept as Reserve funds with the Trustee.  MC gets to use about RM3.5k after marketing costs.  If all 28000 plots are sold, MC will have about RM 100 million funds to develop this 10,000 acre project.

2.  We lenders are given a nice name as "Growers".  For each Grower Fee of RM5.5k we will get a "Grower's Certificate" which is only redeemable after 23 years!  Our earning yields from the 4th year onwards will depend largely on Average Annual CPO Price each year which top at 12% regardless when world price goes much higher than RM2.1k where MC keeps all the rest for it's shareholders.

3.  Lenders main risk is when CPO price falls below RM1K which is very remote.  My lowest expectation is RM1.2k seen 5 years ago against today level of RM3k.  MC easily is getting a cheaper source of funds from "Growers" when CPO prices are below RM1.5k as MC only pays 6% or less to "Growers" when compared with loans from banks.
However, when CPO prices go above RM1.5k, "Growers" share in the extra profit is about one-third.  The maximum "Growers" can get is 12% on the Fee paid.  MC gets to keep all the rest!  Hence, MC can also afford to insured the trees too.

4.  We can only hope for the "bonus" of extra 1% to 5% since only top performers get harvest output of over 20MTonne/Hectare and today in Kelantan it is below this figure. (Business Times Online)

5.  Each acre is expected to produce at least 6MT each year.  When CPO price is above RM2.1k, hence MC income will be above RM13k/acre.  Note also that only 28000 out of 40000 plots are "sold" to the public.  Incomes from the 30% Reserved plots are wholly for MC for their own cashflow and profit purposes.

6.  Current value of an operating oil palm plantation in similar location is about RM20K/acre (Terengganu).  Value will depend on location, age of trees, yields, facilities, land size, land title, royalty premium, etc.  Maximum value can fetched RM50k/acre while lowest with old trees about RM7k/acre current.  Hence, with continuous tree replanting, the land after 23 years will then easily worth more than RM20K/acre.

7.  MC has over 10 years experience but at a smaller scale 1,196 acre plantation in Sabah.  MC has put in RM5 million as share capital plus another RM15.5 million advances from their Group as at Feb-2007 a year ago.
In my final analysis, this CHGS is a VERY good medium/long-term investment for small folks.  It is 100% failproof when looking at the possibility of CPO prices and how MC has computed this project to be win-WIN in operating a large physical oil palm plantation.  A small limited win for us lender "Growers" and big potential WIN for MC with this very viable and profitable project.

Well, as the saying goes : the rich gets richer, and the rich use our money to make more money...
To Mr.Andrew, i cannot find any mentioned of the Launch Date or the Maturity Date.  Please find out the dates and reply here, thanks.