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 Country Heights Grower Scheme (CHGS), anyone heard before?

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TKCP
post Jan 27 2013, 01:51 AM

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Hi Guys - Just came to know about this.

Some questions we may want to discuss.....

1. Is there a tender being called for Corp Advisor to be appointed?
2. What are the resposnsibilities and liabilities of the directors for this scheme?
3. The financial performance looks healthy, with profit turning to positive territory from 2010 to 2011 and continue to grow in 2012. Why the sudden/abrupt negative impact happened within such short time frame?
4. Is there a mismanagement or misappropriation of the funds?
5. Should there be a police report to lodge to launch investigation on this? (This may drag on the whole process and procedures and Growers claims would be delayed)

TKCP
post Jan 30 2013, 09:53 AM

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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 !
121

TKCP
post Jan 30 2013, 03:16 PM

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QUOTE(mkhor7 @ Jan 30 2013, 03:07 PM)
Do whatever lawful that is needed against this unhealthy corporate exercise.

GOOD news!  Minority Shareholders Watchgroup Group (MSWG) has given permission to use their office address for Growers to send in their signed proxy forms.

Her office and mailing address is:

MSWG
11th floor, Bangunan KWSP
No. 3, Changkat Raja Chulan
Off Jalan Raja Chulan
50200 Kuala Lumpur

Phone:603 2070 9090
Fax: 603 2070 9107
Email: watchdog@mswg.org.my
Website: www.mswg.org.my

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Do u hv sample what to fill in the Form of Proxy (the appointment name, IC & address) ? How about witness (leave blank) ?

After we post the Form of Proxy, must grower attend the meeting on 08 Feb ?
TKCP
post Jan 30 2013, 10:54 PM

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QUOTE(mkhor7 @ Jan 30 2013, 06:43 PM)
We are happy Tan Sri Lee has issued a letter to us Growers. rclxms.gif

The attached 2011 letter which we received last year had suggested "a meeting of the Growers will be called at an appropriate time to up-date Growers on the current state of affairs of the estate whereby the Growers would have the opportunity to participate in and make decisions on their investments in this scheme."

We hope and I would personally humbly request Tan Sri to postpone the proposed Feb-8 meeting to "an appropriate time to up-date Growers on the current state of affairs of the estate whereby the Growers would have the opportunity to participate in and make decisions on their investments in this scheme."
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Now, they need our vote for voluntary termination. If we agree, there will be nothing to stop them from 'terminating' the company or holding company.

If they have the fund to pay us within 30 days, why no fund to pay for the dividend ???
TKCP
post Feb 6 2013, 11:51 PM

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QUOTE(mkhor7 @ Feb 6 2013, 05:13 PM)
Trustee or Grower cannot replace PGCB unless two things happened.  The Trustee can only act after it decided PGCB is not doing its job or if PGCB go into liquidation/wind-up.  Then Trustee can ONLY call EGM to get mandate from Growers to appoint another Management Company if PGCB windup  or to wind-up CHGS or to negotiate with PGCB on revised terms.  IT IS Growers who will decide then what Trustee can do with CHGS. rclxms.gif

This route is definitely not good for PGCB who has to transfer all CHGS assets to the new MC. CHGS estates are coming into full yield in few years time.  Do you think PGCB will give up this for the 2012 nett yield costing more than CHGS earnings in 2012?
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Yes, agree....

If vote for ‘FOR’, is just like what Chinese saying...Throwing a meat dumpling to hit a dog.....we can say goodbye to our meat dumpling....

If vote for ‘Against’, at east we still have opportunity to dig more into where did our money go and teh return should not be lesser that what had offered to Growers.....

Threat ??

- Land can only appreciate over years and from what u have showed, it is not true that the land cannot be charged for loan to repay Growers......afterall, Growers are aware this is a long term investment, is the matter of time...

- Just default 1 payment and trustee will replaced ?? Doubt it and anyway, we all know he can still afford, else, how dare they commit to pay growers 10% within 30 days.....

 

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