When I first invested, I was told that the plantation plots were selling out for all investments and I had to buy in soon, or I'll miss out. Based on the prospectus, if they have almost sold out or have already sold out all the investments, EWO would have received almost (or more than) 1 billion in investment. They blame the COVID period for not being able to make money. However, based on their webinar they were taking losses since before COVID. Why is nobody asking where that money went, how was it so badly mismanaged that approximately 1 billion simply vanished?
When they originally proposed the meeting in September, our agents told us that we just have to believe EWO, to vote yes for the proposal. It was only after the meeting was stopped that I actually read the original restructuring meeting proposal and I noticed that the proposal will turn all investments into shares. Currently, the company is required by our investors' contract to pay us quarterly returns and refund our original investment or risk facing legal penalties for breaking the contract. If they passed the original R&R, the company would not be required to pay us anything if they shut down the company, they can just walk away from the investment, and investors will have nothing left. If the company needs time, they can ask for a moratorium. They could have asked us to release trustee funds while keeping the original agreement.
Why did they choose the R&R strategy where only the management company benefits if they had our best interests in mind? Do investors really benefit from this restructuring proposed by EWO? With these conditions, only EWO wins. If they profit, the original investors have to take a smaller share. If they fail, they take no responsibility, and investors cannot sue.
Now the trustee is not paying out returns for any of my investments in all 3 schemes, despite the agreement that the initial 3 years of returns are supposed to be guaranteed. When I ask my agent, I keep getting told that the company is working hard for my sake and I should keep believing in EWO and trust that EWO is working in my best interest. I find it hard to trust a company that has already tried to trick me once and not shown any good faith since.
Blog: East West planters’ scheme investors stand in solidarity to back company’s rehabilitation plan By Naoki Nakamura
2023-11-17 08:13 | Report Abuse
When I first invested, I was told that the plantation plots were selling out for all investments and I had to buy in soon, or I'll miss out.
Based on the prospectus, if they have almost sold out or have already sold out all the investments, EWO would have received almost (or more than) 1 billion in investment.
They blame the COVID period for not being able to make money. However, based on their webinar they were taking losses since before COVID.
Why is nobody asking where that money went, how was it so badly mismanaged that approximately 1 billion simply vanished?
When they originally proposed the meeting in September, our agents told us that we just have to believe EWO, to vote yes for the proposal.
It was only after the meeting was stopped that I actually read the original restructuring meeting proposal and I noticed that the proposal will turn all investments into shares.
Currently, the company is required by our investors' contract to pay us quarterly returns and refund our original investment or risk facing legal penalties for breaking the contract.
If they passed the original R&R, the company would not be required to pay us anything if they shut down the company, they can just walk away from the investment, and investors will have nothing left.
If the company needs time, they can ask for a moratorium. They could have asked us to release trustee funds while keeping the original agreement.
Why did they choose the R&R strategy where only the management company benefits if they had our best interests in mind?
Do investors really benefit from this restructuring proposed by EWO? With these conditions, only EWO wins.
If they profit, the original investors have to take a smaller share.
If they fail, they take no responsibility, and investors cannot sue.
Now the trustee is not paying out returns for any of my investments in all 3 schemes, despite the agreement that the initial 3 years of returns are supposed to be guaranteed.
When I ask my agent, I keep getting told that the company is working hard for my sake and I should keep believing in EWO and trust that EWO is working in my best interest.
I find it hard to trust a company that has already tried to trick me once and not shown any good faith since.