Business News

Published: Friday February 8, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:47:41 AM

Some CHGS investors want Lee’s RM25m personal pledge in writing

KUALA LUMPUR: Tan Sri Lee Kim Yew, the founder of Country Heights Growers Scheme (CHGS), had during Friday's morning meeting with the shareholders gave his personal commitment of RM25mil as a ”goodwill package”.

The meeting, which saw more than 1,300 scheme investors attending, he was also to put his commitment in writing by the trustee of the company.

An investor had proposed the meeting to be adjourned to a later date.

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

As at about 12.30pm, 8.49% of the investors had voted for the termination.

Below is the earlier story

About 1,300 investors at Country Heights Growers Scheme meeting

KUALA LUMPUR: About 1,300 investors involved in the Country Heights Growers Scheme have turned up at Friday's meeting to decide on the proposed voluntary termination of the scheme.

The meeting is expected to start at 11am and the turnout was higher than anticipated, according to the StarBiz reporter at the MINES centre in Seri Kembangan, Selangor.

In total there were 10,000 shareholders involved in the scheme and the scheme had raised funds of RM215.5mil since 2007.

Some representatives from the Minority Shareholders Watchdog Group (MSWG) have also arrived.

Tags / Keywords: News, Business, Lee Kim Yew, founder of Country Heights Growers Scheme, personal commitment of RM25mil, goodwill package, Business

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