In the Country Heights Grower Scheme prospectus dated 8 June 2012, they include the financial statement of the management company, which showed the company has been profitable since 2007 (see page 38 of the prospectus)
However, when it comes to the proposed voluntary termination of the scheme, Gua Musang plantation account, which is less impressive was used instead.
Why the inconsistency? One is to attract investors and the other is for the termination the scheme. But for the same scheme, why different accounts were used? Good if Tan Sri can explain this to the growers.
Besides, there is flaw in the scheme. The production cost now is probably about RM1300-RM1500/ tonne. According to the payment schedule, Country Heights Grower Scheme will pay investors at least 4% annual return if the CPO price is RM1301-1500/tonne. If CPO comes to this price, it merely breakeven. How is the company going to pay investors? Investors may not be savvy enough to see this, but did the boss of the scheme fail to consider the inflation factor when introducing the scheme? Either way, it reflects badly on the boss and the company.
I am just wondering if the CPO price stays high at over RM4000/tonne, will the company convene an EGM to pass a resolution to share the extra profit with minority growers?
I am just wondering if the CPO price stays high at over RM4000/tonne, will the company convene an EGM to pass a resolution to share the extra profit with minority growers?
2 months ago, it was the GENNEVA Gold scheme fiasco. Now, it's the CHGS fiasco.
ReplyDeleteA few years ago, there had been an abandoned housing scheme that sold bungalow lots at Country Heights Resort, Kajang - infrastructure n roads not completely built.
Greedy people never seem to learn. If it's too good to be true, it's usually not.
Be very wary of "guaranteed" schemes.
I believe you are referring to College Heights in Mantin...
DeleteDear Sir/Madam,
ReplyDeleteHope everything is fine at your end.
First of all, we would like to introduce ourselves to you in regards of the Country Heights Grower Scheme matters, we are the publicist for the scheme.
This is in regards of the thread dated 2 February 2013 initiated by you (refer to below link). We would be delighted to be the contact point to answer all your queries Country Heights Grower Scheme issues in future.
http://bursastocktalk.blogspot.com/2013/02/country-heights-grower-scheme-why.html
Please do not hesitate to contact us regarding the scheme and any other matters.
Thank you for your attention and have a nice day!
Email: jlpwcomms@gmail.com