but i find some slot still buying pending since jun 2010. it already take more than 9 months, why still pending?

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

Go DreamCity seri kembangan
Clearwater group development
show house there make noise
His daughter development
Bang table

Anyway, I feel the manager is not doing his job in protecting the interest of minoirty shareholders and give the promised yield of 8% to 12% as promised.

If the company terminate earlier and only returning our capital in 2 years later, most probably the company has breached the agreement of giving a guaranteed YTM of 8% to 12%, so we could sue the company on this basis.

Or we could just fire the manager and run the company by ourselves since the company has planted palm oil for almsot 5 years and I think it's time for us to ripe off the benefit from mature of palm oil yield by ourselves.

No way they can kick us out by getting cheap fund from us and sharing their risk to us in the initial stage and now try to kick us out when time to ripe fruits without sharing the return back to minority shareholders. A typical situation head you win, tail we lose!!!

link to Ng Yen Yen contact.

http://www.drngyenyen.com/contact.html

Pls call her up today.

You All Must Call.

To Let her handle this CRISIS.

She endorsed the so called "Invest in Certainty"

What we are certain is to get all our hard-earned money back in full sum ASAP.
2 years of waiting will cause us mental depression and have to seek Dr. Gila Gila(psychiatrist)

One call to her is not enuf. ALL MUST CALL AND LET HER KNOW THE TRUTH OF "INVESTMENT OF CERTAINTY"

We need all the growers to contact others growers to call/gather at her office and call reporters to know that
we are SERIOUS of getting back our investment in full sum  ASAP.

Now is PEOPLE POWER. PEOPLE POWERRR!!!!!!! WE ARE NOT ALONE. STAY FIRM TO OUR DEMAND AND DON'T
LET THE BIG FISH MAKAN US or else our money will FLYYYY!!!!

Don't see-see, don't think-think, do it now. IS Your HARD-EARNED MONEY. Click the link.

http://www.drngyenyen.com/contact.html

Tel :  03-88917000 or 03-88917011

what i meant is instead of return money...
give us share? in case cannot pay back us 2012 interest and principal amount.

Btw, another question, each of us bought the plot with different price... they will return us with what amount? eg. you buy with 7000.. u get 8000(last selling price?), 7000(Purchased price) or 5000(first launched price)?

come to think of it, it is unfair for previous year buyers...
they invest in this thinking that it would be a good return of 12% this year.
instead, 1st year invest in this, already gone case....
also, if previous year buyer bought at a higher price, how are they going to offset the loss?

e.g. 1st owner bought at 6k.
      1st owner tries to sell the plot at 7k (with a 1k profit).
      2nd owner sees an opportunity and buy the plot at 7k (expecting a 12% return this year, roughly about rm720 (based on 6k plot)).
      end up, this year come out the termination proposal. 2nd owner gets nothing in return and loss 1k instead.

if vote FOR = meaning we will follow their proposal and I don't think we can change the terms and condition. end up they pay us back 10% and 90% (in 2 years time frame).
                    no need to talk about 2012 dividend anymore as it was not even mention inside the circular.

If vote AGAINST = meaning we don't agree with the clause that they propose, we want it to change so that it sound fair to us as INVESTORS.
                            meaning a lot time will be wasted (trustee side, court, etc)...

vote FOR = 2 years time frame
vote AGAINST = 2 years or more (nobody can be sure of this time frame)
in the end, I still need either the 2012 dividends or the 10%. I'm really depending on that for medical purposes.... 

thumb up  so both of u plan to vote against correct?If both of u do so i will follow by voting against as well.

Thanks

The Proxy Form can appoint someone who if do not turn up, the Chairman of the meeting must use count your vote according to your instruction. Remember to indicate "X" in only one correct box and also the form signed by a witness.

It has to be send back to the address stated to reach them latest on 10am 6-Feb . The address is the Company Secretary of PGCB, the management company itself.
As security, an original sign copy must be given to your appointed person.

@ stonkong, can we PM you for your address ?  We can then mail the Proxy Form this week to you so that you can lodge it at their office before the deadline.  Thanks!

Anyone else who can act as our Proxy?

It would have been better if the GM is postponed to another date due to CNY holidays and most Growers unable to attend.
There are provisions printed in the Prospectus about Meeting of Growers on page 57 onwards.
The chairman can adjourn the meeting to another date by a show of hands of those present in persons.
The Chairman can be appointed by Growers present at the meeting, or a nominee of the trustee or a representative approved by ROC.  PGCB representative can even be the Chairman.
Growers can demand a poll on the election of the Chairman or adjournment of the meeting.

Hence, suggest we demand a poll to adjourn this meeting to another more convenient date and time. A poll is one vote for one Grower Plot in person or by proxy who must also be a Grower.

Meanwhile, the fact remained that PGCB may not be able to pay on this Valentine Day the 12% yield of 2012.
Adjournment only delay this reality, but may give more time for some to decide whether to accept termination at their terms, or revised either the refund terms, or continue CHGS with new terms.

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.....