Business News

Published: Friday February 8, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:47:50 AM

Country Heights Growers Scheme investors agree to terminate scheme

KUALA LUMPUR: Tan Sri Lee Kim Yew, the founder of Country Heights Growers Scheme (CHGS), proposal to terminate the scheme received overwhelming approval at Friday's meeting.

A total of 98.98% voted in favour to end the scheme while 1.018% were against.

Lee had, during the meeting with the shareholders, gave his personal commitment of RM25mil as a ”goodwill package”.

The meeting saw more than 1,300 scheme investors attending.

Lee was also to put his commitment in writing by the trustee of the company.

The investors of the scheme also requested Lee's personal commitment on the goodwill package and payment be made within six months.

Tags / Keywords: News, Business, Lee Kim Yew, Country Heights Growers Scheme (CHGS), overwhelming approval to terminate scheme, Business

advertisement

  1. TNB net profit up to RM1.7bil
  2. Obama to lend MaGIC touch
  3. Battersea's 2nd phase to cost more than twice of phase 1
  4. Quek, Poh acquire 15% of Alam Maritim
  5. Liew's 2.76% stake in S P Setia traded off-market at RM3.95 per share
  6. Property transactions dip, but house prices continue to rise
  7. 1MDB and US firm in solar tie-up
  8. 1MDB's annual land assessments set a precedent
  9. Bulk of 1MDB loans guaranteed by Govt
  10. M'sian property market falls 10.9% in volume, rises 6.7% in value

advertisement

advertisement