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

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xxx2299
post Jan 28 2013, 08:52 PM

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I am from pahang, so cannot join you all on the coming discussion group.

Please let me know what to do next, and I will give my support.
xxx2299
post Jan 28 2013, 08:55 PM

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Btw, mine is a joint name with my mum, so if she cannot go for the 8/2 meeting, does she need to appoint me as her proxy?
xxx2299
post Jan 29 2013, 10:01 PM

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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.
xxx2299
post Jan 31 2013, 07:30 AM

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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

Please send early to them today! No more time, must be lodged with CHGS by 6-Feb early morning. No need to send in proxy form if you can attend.

Please fill in your own particulars at the top.  Ensure you and a witness have sign at the bottom together.  The witness must write his/her name and IC no.
For Joint accounts holders, everyone must sign as per the application form.
Leave the proxy name and particulars blank.  We have a group of Growers to be your proxy.

Derrick Teoh has suggested on FB to use 1 proxy form for 1 Grower's Plot.
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also delete the words "the Chairman of the meeting" ??
xxx2299
post Feb 2 2013, 07:11 AM

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QUOTE(jcmy @ Feb 1 2013, 11:04 AM)
This CHGS fiasco is a reminder to all to be wary of similar schemes in the market. I always look at the ultimate person responsible and Tan Sri LKY's reputation just does not cut it for me. Those who follow his business expolits will know what I am referring to. The age old saying - a leopard never changes its spots- comes to mind. I hope the authorities comes down hard on the management for this is a clear breach of contract. Stay strong people!
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When my dad told me about this scheme, I did a quick background check on the mastermind behind the show and advised my dad not to invest. but some time later, i found out he invested quietly anyhow...
xxx2299
post Feb 2 2013, 07:15 AM

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My proxy form is sent, 4pcs from kuantan, pahang.
xxx2299
post Feb 7 2013, 06:35 PM

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QUOTE(EddyLB @ Feb 7 2013, 06:20 PM)
Good point !

LKY is in effect asking the growers to trust his words. He wants the growers to pass the proposal first. And separately he will make sure the growers get the 12% dividend, plus get back the original capital in 6 months

Further question....What is he eats his words ? What if he later say the newspaper mis-quoted him ?  sweat.gif
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IF LKY is sincere with his proposed improve VT, he should:
1) adjourne tomorrow's meeting
2) issue an undertaking letter stating what he promised to do
3) set another date for egm to table his improved VT

Personally, spoken words bear no meaning in this issue.
xxx2299
post Feb 8 2013, 03:13 AM

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QUOTE(FALSEALIAS @ Feb 7 2013, 09:03 PM)
?!!!

WTH IS WRONG WITH EVERYBODY?

WHY THE PREMATURE VICTORY CELEBRATIONS?

ALL WE HAVE CURRENTLY IS A BUNCH OF WORDS THAT IS NOT ADMISSIBLE OR ENFORCEABLE IN COURT.

WITH NOTHING IN BLACK & WHITE - THIS IS JUST A WHOLE LOT OF RUBBISH TO SWAY VOTING DECISION.

THE PAPER MAY HAVE EVEN MISQUOTED HIM... THATS EXACTLY WHY PAPERS FREQUENTLY ISSUE RETRACTIONS!

LKY'S 'PERSONAL GUARANTEE' MEANS LESS THAN TOILET PAPER... I REMEMBER ANOTHER PERSONAL GUARANTEE TOO > 'INVEST IN CERTAINTY'... HOW DID THAT TURN OUT?

MAKE NO MISTAKE - LKY'S WORDS ARE USELESS IF NOT LEGALLY BINDING IN BLACK OR WHITE OR EVEN REALISTICALLY ENFORCEABLE (MEANING, WHAT HAPPENS IF HE DIES? OR DECLARES BANKRUPTCY? OR ABSCONDS TO A DIFF COUNTRY?OR IS FIRED/RETIRES/DECLARED INSANE/UNFIT TO CARRY OUT DUTIES... OR A THOUSAND OTHER LOOPHOLES THAT MAY MYSTERIOUSLY APPEAR LIKE THE PREVIOUS RAMPAGING ELEPHANTS, TEMPESTUOUS WEATHER, SUDDEN MAGICAL TERRAIN SHIFTS, ETC)

...HAVE WE NOT HAD ENOUGH OF HIS BULLSHIT?

WHY DID HE SUDDENLY DECIDE TO OFFER 'RM25 million' AND 'I will ensure that the growers will be compensated within six months instead of the two year timeline stipulated in the circular.'?

IF HE TRULY MEANT 'out of goodwill' > BOTH THE ABOVE WOULD/SHOULD HAVE BEEN IN THE VERY INITIAL AGM LETTER!!!

SO, WHY THE SUDDEN LARGESSE IN THE LAST MINUTE?

...SIMPLY COZ HE WAS CALLED ON HIS BULLSHIT SHODDY BULLYING UNDERHANDED TACTICS & KNOWS THAT THERE'S NO WAY HE'S GONNA GET MAJORITY NOW - SO BETTER CHANGE TACTIC & GIVE BS NON-ENFORCEABLE VERBAL ASSURANCES & TRY TO PERSUADE FOOLS TO BITE THE BAIT SO HE CAN GET THE VOTES.

HAS ANYONE EVEN CALCULATED WHETHER 'RM25 million' IS ENOUGH TO COVER THE 12% DIVIDEND FOR ALL GROWERS? PLEASE DO SO & POST UR FINDINGS HERE.

BOTTOMLINE:

VOTING AGAINST VT ONLY STRENGTHENS OUR ABILITY TO GET OUR 12% DIVIDEND & ROC WITHIN 6 MONTHS, AS WE'LL BE THE ONES HOLDING THE POWER & CAN DICTATE THE VT TERMS (WHICH LKY HAS ALREADY SO-CALLED AGREED TO BASED ON THE ARTICLE - MEANING ITS A SLAM DUNK FOR US ANYWAY... WITH THE DIFFERENCE BEING WE STILL RETAIN THE POWER IN CASE HE TRIES ANYTHING IN THE LAST MINUTE). SO, VOTING AGAINST VT IS INSURANCE FOR US TO ENSURE LKY COMPLIES & FULFILS WHAT HE SAYS IN THE ARTICLE -  BECAUSE WE'RE THE ONES IN CONTROL!

VOTING FOR VT ONLY WEAKENS OUR POSSIBILITY TO GET WHAT WE WANT AS (CURRENTLY) IT'S ONLY MERE WORDS BY LKY & NOTHING IS LEGALLY BINDING. HE CAN JUST AS EASILY RELEASE A PRESS STATEMENT LATER SAYING, "I CHANGED MY MIND. TOO BAD. HAPPY CNY"... AND THERE'S NOTHING WHICH CAN BE DONE AS WE HAVE GIVEN AWAY OUR ONE AND ONLY (ALL POWERFUL!) BARGAINING CHIP. CHGS WOULD THEN HOLD THE ENTIRE POWER - & WE'D HAVE NO INSURANCE AGAINST THEM TO ENSURE COMPLIANCE... & LETS NOT FORGET THEIR HORRIFIC RECENT TRACK RECORD OF NOT HONOURING THEIR WORD/TRYING TO TAKE ADVANTAGE OF US... NEED I SAY MORE?

LOOK, IF LKY REALLY MEANT TO GIVE US 12% & A FULL ROC WITHIN 6 MONTHS - ALL HE HAD TO DO WAS CALL OFF THE AGM TOMORROW, REWRITE THE TERMS OF THE VT TO INCLUDE THE LATEST 2 AMENDED PROVISOS, GIVE US OUR 21 DAYS AGM NOTICE & THEN PROCEED TO HAVE A VOTE UNDER THE NEW VT TERMS.... DID HE DO THAT.... NO!

END OF THE DAY, YOU MAKE YOUR OWN DECISIONS & YOU LIVE WITH THE CONSEQUENCES.
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I second what you have said.

Spoken words bear no meaning in this issue.

An undertaking letter by LKY stating what he said is vital.
xxx2299
post Feb 8 2013, 03:37 AM

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QUOTE(Rubberban @ Feb 8 2013, 12:25 AM)
Bro, can you please cool down? Be practical please, when u vote AGAINST, what will happen? what control did u get? the trustee will involved in and NOBODY knows what will happen, u face the possibility of not getting ur initial invested money also.

Tan Sri already made his statement on the newspapers/media, i bet he as the tycoon and one of the leader in property, he would not gamble his reputation like that, obviously everyone will chase after him if he did not fulfill his promise.

So, why dont we be practical a bit? just get back the dividend last year and the full refund within 6-month, whether u still believe in him or not, that is another story, getting back the cash on hand is the most important thing.

One more thing, u thought calling off an AGM is so easy? those people traveled from penang or even sabah, r u going to compensate them?
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I sent in my proxy marked Against before 6/2/2013. How can my proxy vote For now? No logic lah, this LKY.

Bro, newspapers/media in Malaysia often "mis-quote" statements, so there is no guarantee the same would not happen especially in this case.

My did a very very quick background research on LKY and end result suggested not to invest in CHGS, but my dad dont listen and quietly invested. I really hope I was wrong in my research, but this VT event only proofs me right.

This post has been edited by xxx2299: Feb 8 2013, 03:44 AM
xxx2299
post Feb 17 2013, 01:05 PM

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QUOTE(SJ555 @ Feb 17 2013, 10:39 AM)
Have you heard anything regarding the 25M goodwill package by LKY needs to be approved by another EGM by the growers?  I read the Nanyang today it stated something like this. Is this true?
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Thanks for informing.

Latest news:
http://www.nanyang.com/node/511488?tid=460

quoting last sentence:
"PGC接下来需要举行第二轮投资者大会,再为李金友的“商誉配套”提案,寻求投资者的批准。"
rough translation:
"Next , PGC needs to hold a second investor meeting(EGM) to table LKY's goodwill package to seek approval by the investors"

Questions:
1) Who said the above statement? PGC? SSM?

2) If above said by PGC:
and the 8/2/2013 approval does not legally include approval of the goodwill package as one,
and by quoting Denniston (since I did not attend the EGM),
"His lawyer explained that his declaration is a verbal offer and is contract binding, substantiated by the Trustee which stated that these revised conditions have been recorded in the minutes. A vote for VT would be an acceptance of those terms"
is the lawyer lying to the investors just to woo votes?

3) If above said by SSM:
and the 8/2/2013 approval does not legally include approval of the goodwill package as one,
and, PGC with all the resources to seek best legal advice,
and by quoting Denniston (since I did not attend the EGM),
"His lawyer explained that his declaration is a verbal offer and is contract binding, substantiated by the Trustee which stated that these revised conditions have been recorded in the minutes. A vote for VT would be an acceptance of those terms"
is PGC really sincere in handling the issue?

4) So as of today, the legal status of CHGS is:
a) CHGS terminated + goodwill package approved and binding (as voted FOR on 8/2/2013 by over 99% investors);
OR
b) CHGS terminated only, goodwill package is just a proposal and not legally binding until further EGM in later dates?

This post has been edited by xxx2299: Feb 17 2013, 01:34 PM
xxx2299
post Feb 18 2013, 09:58 AM

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QUOTE(mkhor7 @ Feb 17 2013, 03:31 PM)
This Nanyang's article was based partly on The Edge's news on the morning of Feb-8 before the EGM was held.  The meeting referred to here is the EGM that had indeed proceeded that day as scheduled, and the RM25million Goodwill Package had indeed been accepted by the Growers.  CHGS is now considered terminated and no longer will be calling any further meeting.  CCM will monitored compliance of termination procedures.

To all growers, Tan Sri LKY had given his personal guarantee to pay this Goodwill package.  When? hopefully by 28-February-2013...
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Called CH and received confirmation that there will be no 2nd EGM, while the goodwill package will be paid within 6 months.

 

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