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

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netcrawler
post Jan 7 2008, 11:52 PM

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I have invested in this scheme couple months ago and i have a question to ask Neo (Andrew). The brochure stated that if the CPO is above RM2100, we are entitled to 12% dividen. Would the management pays extra dividen if the CPO price hits all time high like RM6000?
netcrawler
post Jan 8 2008, 10:37 AM

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QUOTE(neocappuccino @ Jan 8 2008, 08:54 AM)
aiks aiks....correction my bad.....
its on the 22nd of February 2008 Friday
i'll get more info on the gala dinner asap.
*
Would CHGS send out any invitation card for investor to attend the dinner? Also, if the CPO is RM6000, where would the profits go if no distribute as a bonus to the Growers?

This post has been edited by netcrawler: Jan 8 2008, 10:38 AM
netcrawler
post Jun 15 2008, 08:39 PM

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Already appreciate to RM7500? I bought 1 lot last november at RM5500 only. This mean 36% gain. Frigging good investment i reckon.
netcrawler
post Jan 16 2010, 03:28 PM

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Anyone know when CHGS going to send out 8 % dividen of last year? Anyone already receive the dividen?
netcrawler
post Feb 4 2010, 11:17 PM

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Haven't received eventhough i'm staying near their office sad.gif
netcrawler
post Jan 22 2011, 10:24 AM

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No news yet for CHGS. We suppose to get >12% since CPO is staying at all time high now smile.gif
netcrawler
post Mar 3 2011, 10:18 PM

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Still haven't get my dividend eventhough i already fax 1-2 weeks the form. How do i contact them?
netcrawler
post Feb 26 2012, 07:38 PM

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I have yet to receive the dividend. Should I call the CHGS as most of the investors received theirs. sad.gif
netcrawler
post Feb 28 2012, 09:17 PM

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Anyone still haven't got the dividend ? I yet to get mine. Who can provide me the phone to call them?
netcrawler
post Mar 16 2012, 01:04 PM

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The website still down. I haven't received my cheque. Anyone kindly give me the phone number for customer service.
netcrawler
post Jan 18 2013, 01:02 AM

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QUOTE(sam sam @ Jan 17 2013, 01:18 PM)
was told it going to be major bad news
plans to wind up the scheme or something else equally bad

this was told by the office of chgs
*
Your info better to be accurate. Don't simply spread rumour bear on hearsay otherwise
it'll land you in hot water as it concern investor's interest
netcrawler
post Jan 19 2013, 09:06 PM

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QUOTE(sam sam @ Jan 19 2013, 06:32 AM)
Officially it's buy back as per the conversation with office

But hearsay from people who knows people inside from 2 sources
Is that the plantation is not doing too well quite bad. This info quite believe able as the prospectus do mention

So wind up might be a possibility if the buy back is not approved. They need 70 percent to approved the buy back. Also buy back could be buying back at initial price only.
Also has no word yet on whether they are issuing dividend as per the office. Does not sound good

So best to come for the Agm on the 8 th feb.
*
According to the agreement signed, if the CPO is staying above RM2100, investors are entitled to 12% of dividend.
Obviously, the CPO prices were above RM2100 through out the year, so they should pay out at least 12% dividend smile.gif

netcrawler
post Jan 19 2013, 10:21 PM

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QUOTE(alantanblog @ Jan 19 2013, 09:16 PM)
be careful wt all these oil palm planter’s scheme .some get a letter saying they R going to terminate the scheme....will get back 10% in 1 mth & balance within 2 year IF they manage to sell their land else burn
*
There are various of these schemes. CHGS is one of the pioneer and by renown businessman. If this turn out to be a scam, we'll going to
buy their Dream City without paying single cent biggrin.gif

netcrawler
post Jan 20 2013, 08:36 PM

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Have received the letter of meeting for Growers and it's confirmed that CHGS is in deep trouble!! The planting of palm oil faced many challenges and the board of directors decide to call a meeting for voluntary termination.
I hope they will refund the Grower's fee in a month and not in 2 years mad.gif Also please pay dividend for year 2012 which is due for growers. Never will I trust any stuff or investment from this Tan Sri again vmad.gif

This post has been edited by netcrawler: Jan 20 2013, 08:39 PM
netcrawler
post Jan 22 2013, 12:01 AM

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The meeting should be held after CNY because most of the people would have started to leave for outstation. Could we request the meeting to be postponed? Meanwhile, it's very fishy with all their arguments and it does look like they are leveraging our money for their interests. The company should have compensated the Growers for wasting time with this scheme. We should tell that Tan Sri to liquidate his shares and the proceed to pay the grower. Furthermore, we should request him to make public apology to all the growers!!

This post has been edited by netcrawler: Jan 22 2013, 12:02 AM
netcrawler
post Jan 22 2013, 09:16 PM

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We should gather forces and report this to DAP since the scheme was endorsed by MCA's Woman chief and Tan Sri is BN's big cro*y. Also we should set 3 conditions for the CHGS.

1. They should pay out dividend 12% for last year without setting any condition whatsoever.

2. Refund 50% in 1 month and another 90% month in 6 months.

3. Tan Sri and his management to come out in public to explain and apologize to Growers for failing to live up grower's expectation
netcrawler
post Jan 22 2013, 10:04 PM

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They should also bring few representative of growers to visit the site for inspection. why do this so hurry for AGM?
netcrawler
post Jan 23 2013, 09:40 PM

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QUOTE(mkhor7 @ Jan 23 2013, 09:21 PM)
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.
*
Agree to vote against early termination but do you still trust the current management to manage this scheme? Why they only
informed us in the eve of dividend payout? Did all these problems happen overnight? LKY should have given up his investment
to compensate the Growers and this is also to clear his name for exploiting the investors. We could agree to receive lower dividens
as exchange of long term investment. Also the AGM must be held after CNY to allow more growers to attend.
netcrawler
post Feb 11 2013, 12:01 PM

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So, the dividend should be paid on 14 Feb 2013 and we will getting the 10% before 8 Mac?
netcrawler
post Feb 14 2013, 10:28 PM

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QUOTE(stupidbump @ Feb 14 2013, 02:40 AM)
Any exact date on when investors will be receiving the dividend and 10% initial investment and when will the remaining balance be fully refunded?
*
The dividend should be paid today right according to agreement? We'll receive the payment in a week I suppose

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