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Sri Lanka Equity Forum » Stock Market Talk » Stock Market Research » Touchwood Case Review

Touchwood Case Review

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201Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Mon Dec 03, 2012 3:30 pm

Fresher


Moderator
Moderator
@Lord Toad wrote:I wanted to send PMs to all the frustrated investors but I have not enough posts. I have asked for that to be fixed.
However I am in contact with some large scale investors and we believe there is little option but to take positive action (legal).
If you are an investor and would like to be kept informed of what is happening please sign up on this link http://ymlp.com/xgjqusbmgmgj

you need at least 10 posts in the forum to be able to send PMs

202Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Mon Dec 03, 2012 9:26 pm

Lord Toad


Equity Analytic
Equity Analytic
npp wrote:
@Lord Toad wrote:I wanted to send PMs to all the frustrated investors but I have not enough posts. I have asked for that to be fixed.
However I am in contact with some large scale investors and we believe there is little option but to take positive action (legal).
If you are an investor and would like to be kept informed of what is happening please sign up on this link http://ymlp.com/xgjqusbmgmgj

you need at least 10 posts in the forum to be able to send PMs

Thanks - it looks like I will have to be more verbose

203Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Tue Dec 04, 2012 8:35 am

Lord Toad


Equity Analytic
Equity Analytic
Just being as threatened

204Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Tue Dec 04, 2012 8:39 am

Lord Toad


Equity Analytic
Equity Analytic
If you are an investor and would like to be kept informed of what is happening please sign up on this link [url= http://ymlp.com/xgjqusbmgmgj[url][/url]] http://ymlp.com/xgjqusbmgmgj[url][/url][/url]

205Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Tue Dec 04, 2012 9:19 am

sureshot


Vice President - Equity Analytics
Vice President - Equity Analytics
lord its only 10 post .you can do it Very Happy

206Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Wed Dec 05, 2012 9:21 am

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
u mean there are still people who think touchwood is a good investment???? Crying or Very sad

207Touchwood Case Review  - Page 11 Empty Touchwood not honouring Returns on Fri Dec 07, 2012 6:31 pm

venkat1711


Stock Analytic
Stock Analytic
Hi all, I am an Indian working in Abu Dhabi and invested in both Bamboo & Agarwood through their Dubai office. I have invested in 368 Agarwood Trees the return for which is due in Jan 2014 and an another one for 1000 Agarwood Trees the return for which is due in Jan 2018. I also made investment in Bamboo & my first return from Bamboo as due in June 2012 and the Dubai representative went to Colombo sometimes in June 12 and was in touch now and then giving me false hopes that she was arranging the return. I was also in touch with their Bangkok office until 3 months back who kept saying the CEO has to approve the returns. Then suddenly 2 months back they said all papers are being moved to Srilanka and shortly they will make arrangements for the return. Now of late the Dubai representative is totally absconding and not responding to either e-mails or telephone calls. My e-mails to the chairman/Directors and others have all gone to the dustbin and still struggling to find out if any return will be given by Touchwood. The Touchwood Colombo office is responding ( contacted them through telephone) and seems to be giving false hopes as nothing is moving. I am really worried with regard to my investments and tried to search any information on the net when I saw this forum of Srilankan equity.

I can provide any proof ...all communication by e-mail... but there is no proof in paper which Touchwood has sent. I have signed up in the website as recommended by Lord Toad. Please let me know what I should be doing to recover the investment. Appreciate any help in this regard form forum members.

208Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Fri Dec 07, 2012 6:55 pm

Whitebull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
This issue seems to be realy serious.This is either genuine problem or organised agenda.I do not know what.
It is better if a responsible person either from company itself or from SEC may shed more light on this issue.

209Touchwood Case Review  - Page 11 Empty This is a genuine & serious problem on Fri Dec 07, 2012 7:07 pm

venkat1711


Stock Analytic
Stock Analytic
Dear Whitebull,

Your concern is correct since whatever posted here is through internet & anybody could post fake. However, I can tell you that I am a genuine person having invested quite a lot of money and I am really concerned with whatever is happening. If there is anything that could make you believe the genuinity, please tell me. I shall do it. Sitting in far away places we are not able to get in touch personally with Touchwood and know the truth. Definitely Touchwood is covering up for some mis-management & we are at their mercy since our money is stuck with them. At the end, if some help is forthcoming from the forum members I will be really happy.

210Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Fri Dec 07, 2012 7:39 pm

Whitebull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@venkat1711 wrote:Dear Whitebull,

Your concern is correct since whatever posted here is through internet & anybody could post fake. However, I can tell you that I am a genuine person having invested quite a lot of money and I am really concerned with whatever is happening. If there is anything that could make you believe the genuinity, please tell me. I shall do it. Sitting in far away places we are not able to get in touch personally with Touchwood and know the truth. Definitely Touchwood is covering up for some mis-management & we are at their mercy since our money is stuck with them. At the end, if some help is forthcoming from the forum members I will be really happy.
Sorry friend if I hurt ur feelings.What I want is to open an eye of some responsible person regarding this issue.

211Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Fri Dec 07, 2012 7:54 pm

zenobia


Manager - Equity Analytics
Manager - Equity Analytics
I have read this topic from it's begining and still didnt see a single proof of any of the accusations made. whenever the topic goes down in the order of interest for a few days someone post a new complaint - usually a new comer, and the topic comes up. its still nothng but proofless accusations.

the other interesting observation is that no one from Touchwood has yet responded to anything said in this thread.
since everyone seem to speculate, can i also speculate that there may be an ulterior motive other than a genuine grievence behind this thread?
such as promoting a rival plantation company
or bring down share prices so much so that someone can accumulate?!

212Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Fri Dec 07, 2012 7:56 pm

Fresher


Moderator
Moderator
@zenobia wrote:I have read this topic from it's begining and still didnt see a single proof of any of the accusations made. whenever the topic goes down in the order of interest for a few days someone post a new complaint - usually a new comer, and the topic comes up. its still nothng but proofless accusations.

the other interesting observation is that no one from Touchwood has yet responded to anything said in this thread.
since everyone seem to speculate, can i also speculate that there may be an ulterior motive other than a genuine grievence behind this thread?
such as promoting a rival plantation company
or bring down share prices so much so that someone can accumulate?!

with regard to proof, that was sent to the admins and verified. Thus the thread was reopened.

venkat1711


Stock Analytic
Stock Analytic
Dear friends, Sometimes back on 7th September the news item regarding transferring their marketing arm to Aequus Management was published on Touchwood website . However, very quickly within a few days this news item was retracted from their website & you don't find it any longer.

Any idea if this has fallen through?? Kindly share any news reg. Touchwood status. Really concerned with the health of this company from Harvest Return point of view.

NEWS ITEM :
Touchwood’s New Collaboration with AEQUUS Asset Management
September 7th 2012

Aequus Asset Management have agreed to become the marketing arm for Touchwood Limited from Monday 10th September 2012.

We have had close link with Aequus for many years and this step forward will allow us to handle what we do best: forestry. Going forward you will notice that Aequus will be handling the marketing of Touchwood Limited while we continue with forestry management and operations.

What does this mean for clients of Touchwood?

The only difference is that our future marketing and product sales will be carried out by AEQUUS. Forestry/Plantation management and establishment will remain our primary focus.

214Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Sat Dec 08, 2012 7:12 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@zenobia wrote:the other interesting observation is that no one from Touchwood has yet responded to anything said in this thread.
since everyone seem to speculate, can i also speculate that there may be an ulterior motive other than a genuine grievence behind this thread?
such as promoting a rival plantation company
or bring down share prices so much so that someone can accumulate?!

Can we expect the company representatives to come here and comment?? We cant.. That's their own will and they'll have to bring the proof as well.

For the time being, we got some valid proof by the way of lawyers rpresenting some clients and it was the only proof that TWOD has cheated its clients. On the other hand, no official letter from the company worrying us to the core..

215Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Sun Dec 09, 2012 7:41 pm

zenobia


Manager - Equity Analytics
Manager - Equity Analytics
if you got proof why are you still keeping this thread in "prison"?

216Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Sun Dec 09, 2012 7:59 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@zenobia wrote:if you got proof why are you still keeping this thread in "prison"?

Didn't notice.. Moved..

217Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Sun Dec 09, 2012 10:07 pm

kas

kas
Manager - Equity Analytics
Manager - Equity Analytics
Company has advertised in today's Sunday Observer about new investment packages for sandalwood,wonder what will happen to the investors if they are trouble in other Asian countries (as per this thread), or is this a way to attract funds so they could pay the investors in other countries? scratch

218Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Sun Dec 09, 2012 10:59 pm

venkat1711


Stock Analytic
Stock Analytic
I have seen latest Advst on their website for some Sandalwood Biculture...may be same Ad ... Earlier Agarwood was a 7 year term investment and sometimes back they advst for 3 years/4 years and now they advst for even 2 years... Hopefully they are not operating any ponzi scheme... Could be that they are using new investors money to pay the old and goes on like this... If by chance no new investor comes in & this cycle is broken then it goes bust.. This happened in India..With international investors scattered here and there, its very easy to attract to invest in their products with fantastic returns promised .... and also get away easily if their schemes don't work out ( just like what's happening now)... They know its very difficult for international investors to get together and take any action...This is my personal view ...I only pray that Touchwood is not into any such schemes...

219Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Sun Dec 09, 2012 11:07 pm

Fresher


Moderator
Moderator
one question from these investors.
the ads state that the ownership to these trees and 'access' to the land will be given to them? Can you elaborate on this?

220Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Sun Dec 09, 2012 11:29 pm

venkat1711


Stock Analytic
Stock Analytic
Hi npp... Yes all investors sign two agreements ... 1. Land Lease Agreement whereby the said land is leased to investors by Touchwood Forestry Company (a subsidiary) for the purpose of performing any agricultural activity only.. and 2. the Forestry agreement through which the investor essentially gives the Touchwood Forestry company the authority to grow and manage the trees. These agreements provide for clauses like "access" to the land & ownership of trees... One of the main problem is there is no transparency in activity... Even if we own the trees we really don't know what quality & if they have really grown the way they are supposed to have!! They do not regularly keep us posted of how the growth of the trees etc or anything...I was asking them to provide for some photographs of how the Bamboo has grown... even after more than 1 1/2 years they never provided any evidence... However for Agarwood they did provide some photos...The issue is even if we own the trees ( Asset) what do we do with it Crying or Very sad particularly sitting in some other country...I shudder to imagine final outcome of all these...

221Touchwood Case Review  - Page 11 Empty Parole on Mon Dec 10, 2012 8:45 am

dinga


Equity Analytic
Equity Analytic
npp wrote:one question from these investors.
the ads state that the ownership to these trees and 'access' to the land will be given to them? Can you elaborate on this?

WOW - never been in prison before, but it's cold comfort to see I'm not alone. I too have joined LordToad's group and am awaiting advice about how we investors can co-ordinate actions (apologies to the apologists - but we are REAL, and there are no imperatives other than to seek to secure our investments).

An email last week promised that my concerns and requests would be raised with "Management" on Friday 7 December - I will chase a response mid this week, and let the forum know the result.

I am an investor in both agarwood and bamboo - with a modest US$560 currently owing on the March 2012 bamboo harvest. Like others, the failure to pay out the bamboo harvest (from memory there were quite limited numbers of bamboo culms promoted) in the most worrying aspect.

MODS - happy to provide whatever docs/emails you need to have this discussion parolled!

222Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Mon Dec 10, 2012 8:50 am

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I am flabbergasted as to how some people still fall prey for such scams even in this Information Ear.

223Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Mon Dec 10, 2012 9:39 am

venkat1711


Stock Analytic
Stock Analytic
The fact is the product / Investment model is good and if properly carried out should yield desired results. Of course every busines has risks and this too has its own. However, what affects the business most is the greediness of the promoters and diverting funds for more assets with an idea to build bigger business or finacial mis-management which is liekley to lead to liquidity issues.

As such looks like all Babmoo investors have not been paid. I would like to know from other investors if anyone has return due on Agarwood in the past 1 year and if that has also been delayed?? Any idea how the quality of the Agarwood / Bamoo grown has been and its acceptance in the market?? For me my Agarwood return is due in Jan 2014 and one last management fee is pending during Jan 2013. If Bamoo investors are not given their return & the news of thier default comes open in the public it is liklely that all investors will all stop paying up any further management fee on thier investments fearing loss of that money also. This will create additional problem for Touchwood as they need money for rotation !! I am not sure how they are going to come out of this mess ! Kindly share your thoughts on these.

224Touchwood Case Review  - Page 11 Empty Re: Touchwood Case Review on Mon Dec 10, 2012 11:33 am

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
No matter how much one would like to Sugar Coat the issue Embarassed , I have seen such products come and go and the end result is the same. Very Happy

225Touchwood Case Review  - Page 11 Empty Forecasts & reality on Mon Dec 10, 2012 12:32 pm

dinga


Equity Analytic
Equity Analytic
@venkat1711 wrote:
As such looks like all Babmoo investors have not been paid. I would like to know from other investors if anyone has return due on Agarwood in the past 1 year and if that has also been delayed?? Any idea how the quality of the Agarwood / Bamoo grown has been and its acceptance in the market?? For me my Agarwood return is due in Jan 2014 and one last management fee is pending during Jan 2013.

I visited the Kabinburi plantation some 6 months ago - looked OK then apart from:
* forecast agar growth rates were over-optimistic - meaning a blowout of 18 months to 2 years from the initial harvest forecast.
* likewise with bamboo - but I heard then that Touchwood would still need to pay the yearly incomes, due to some requirement by the Hong Kong regulators (the investments being placed there). Anyone shed some more light on this aspect???????

PS Can those not offering useful comment please desist or do something helpful (the "i told you so" type comments get mighty boring, apart from being a waste of everyones' time....)

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