Touchwood Case Review

@Lord Toad wrote:The auditor resignation is true - I have several people who have confirmed that individually from KPMG.

@Lord Toad wrote:The auditor resignation is true - I have several people who have confirmed that individually from KPMG.

@Lord Toad wrote:KPMG are an international company and they will be insured.

If the suggestion is made that KPMG might be culpable they are obliged to put their insurer on notice - even if no claim is made

@cyril_madrid wrote:What do you mean "to a more private place" ? Do you mean you are negotiating with TW ?
I think affected investors have interest in this going public, and being kept in the loop, instead of the forum to go quiet and leave everyone in stand by.
We need to know if our trees are looked after, that's the first step, if we need to change caretaker for the trees, ...

@Kay2 wrote:Dear All,

I don't understand what all of you are talking about its as if the company has abandoned clients. This is not true, the company is speaking to clients in Thailand from the Touchwood Forestry Company and also speaking to Sri Lankan clients from their Local office which is Touchwood Investments PLC.

Why not speak to either company and get things resolved. They have appointed a Harvest Processing Team in Sri Lanka and In Thailand as well. If you speak to them and meet them you could discuss your concerns.

I strongly suggest the only way to resolve this matter is to talk it out with the right people in the company, I also know that the few clients have visited the plantations in Thailand and was very pleased with the management of the trees.

tnx

@Kay2 wrote:Dear All,

I don't understand what all of you are talking about its as if the company has abandoned clients. This is not true, the company is speaking to clients in Thailand from the Touchwood Forestry Company and also speaking to Sri Lankan clients from their Local office which is Touchwood Investments PLC.

Why not speak to either company and get things resolved. They have appointed a Harvest Processing Team in Sri Lanka and In Thailand as well. If you speak to them and meet them you could discuss your concerns.

I strongly suggest the only way to resolve this matter is to talk it out with the right people in the company, I also know that the few clients have visited the plantations in Thailand and was very pleased with the management of the trees.

tnx

@slstock wrote:Kay2 are you a rep from TWOD? Just asking. If so it would be good to say so.

@Kay2 wrote:Dear All,

I don't understand what all of you are talking about its as if the company has abandoned clients. This is not true, the company is speaking to clients in Thailand from the Touchwood Forestry Company and also speaking to Sri Lankan clients from their Local office which is Touchwood Investments PLC.

Why not speak to either company and get things resolved. They have appointed a Harvest Processing Team in Sri Lanka and In Thailand as well. If you speak to them and meet them you could discuss your concerns.

I strongly suggest the only way to resolve this matter is to talk it out with the right people in the company, I also know that the few clients have visited the plantations in Thailand and was very pleased with the management of the trees.

tnx

@Lord Toad wrote:What would an excellent start Kay2 would be if you were to look at all the emails you have received regarding harvest returns and answer them - if as in most cases there are multiple emails all making the same request from the same person you maybe forgiven for only answering them with one reply.
If somebody has a bounced cheque then maybe a bank transfer would solve the problem.
But in all cases people want action which = money - not platitudes.
And please remember the reason people are on here is because all usual approaches to Touchwood have been ignored or spurned.

@Kay2 wrote:

We have seen these happening in the past and going public is not the solution. This forum is not going to help any of us, it is only going to make things even bad. I am sure you should be educated enough to understand this. All i am saying is we should get in contact with the right people in the company, i know for a fact that Touchwood Forestry Company Thailand is in full operation and Touchwood Investments PLC Sri Lanka is also in full operation. Maybe it is best that we pay a visit and discuss these issues...This issue is only with the Thailand operations but it is now affecting the Sri Lanka operations as well which could have an adverse effect for many investors in Sri Lanka...and whatever money you are hoping to get will be lost..THIS IS NOT HEALTHY!!! This is my opinion only..

@venkat1711 wrote: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.

@Kay2 wrote:Dear All,

I don't understand what all of you are talking about its as if the company has abandoned clients. This is not true, the company is speaking to clients in Thailand from the Touchwood Forestry Company and also speaking to Sri Lankan clients from their Local office which is Touchwood Investments PLC.

Why not speak to either company and get things resolved. They have appointed a Harvest Processing Team in Sri Lanka and In Thailand as well. If you speak to them and meet them you could discuss your concerns.

I strongly suggest the only way to resolve this matter is to talk it out with the right people in the company, I also know that the few clients have visited the plantations in Thailand and was very pleased with the management of the trees.

tnx

@econimistSL wrote:Dear Kay2,

i agree with u to a certain extent, although im not a touchwood investor a couple of my friends have been paid their BKK returns in 2011. from what i know is that Touchwood is working on some sort of a payment plan for the remaining pay outs... i too believe that publicizing negativity about any company will not help the investors, best thing to do as kay2 says is to stay calm, analyze the situ & speak to the company.. spreading negativity will only backfire at the investors which mite help them loose whatever they are supposed to get. this was the case in many finance companies in SL recently....

@Kay2 wrote:Dear All,

I don't understand what all of you are talking about its as if the company has abandoned clients. This is not true, the company is speaking to clients in Thailand from the Touchwood Forestry Company and also speaking to Sri Lankan clients from their Local office which is Touchwood Investments PLC.

Why not speak to either company and get things resolved. They have appointed a Harvest Processing Team in Sri Lanka and In Thailand as well. If you speak to them and meet them you could discuss your concerns.

I strongly suggest the only way to resolve this matter is to talk it out with the right people in the company, I also know that the few clients have visited the plantations in Thailand and was very pleased with the management of the trees.

tnx

@econimistSL wrote:Dear Kay2,

@Lord Toad wrote:

@Kay2 wrote:

@dinga wrote:G'day

Hi,

You should contact Touchwood local office on 0094117444888, As far i know Touchwood Asia is still very much operational and i have verified this from the local office and also via my contacts in Thailand. I am sure there is a valid explanation to your concern and doubts, at this point the right thing to do is to contact the local office. Clearly posting comments is not helping. Get it off the horses mouth.

Thanks

I am sure you are right. But it would help if Touchwood management actually clarified what is happening and how harvest returns will now be paid.

It would help if they answered their emails. I have sent 3 in the last month without one response.

The only reason people are posting here is because they are getting no response and the rumour mill (in Bangkok) is rife with bad news - of course rumours are just that but it is the job of Touchwood management to counter them.

I am an investor with Touchwood and can confirm that the office in Bangkok is closed as is the Hong Kong office. There are many clients who have not been paid their returns. There are a number of clients who are now considering litigation as the only solution. This is of course very sad, however, Touchwood are refusing to acknowledge emails or give its clients answers.

I have not been paid my harvest returns for 2011 and have not been able to get confirmation of when or even if I will be paid for 2011 and 2012's payment is now due.

Why have so many directors resigned recently? at least two directors recently resigned after being on the board for only a few months.
These are not rumours and its important that the facts are brought to the publics attention.

@dinga wrote:G'day

I have invested in agrwood & returns are due in 2015, also made an investment with their monthly project 2 months ago & successfully receiving returns, visited their plantations in Girandurukotte too. please back your accusation with proof

@Kay2 wrote:

@dinga wrote:G'day

I have invested in agrwood & returns are due in 2015, also made an investment with their monthly project 2 months ago & successfully receiving returns, visited their plantations in Girandurukotte too. please back your accusation with proof

If what you are trying to do is shut the thread up you are going the wrong way about it. I have got an email list of over 40 disgruntled investors. The quickest way the shut them and me up is the pay us what was promised on time (which means in most cases NOW) with interest for late payment. We will take the minimum that was promised - namely $200 per tree. Then we will all ride of into the sunset saying 'oh what nice people.'

If you want a list of the harvest returns that are over due I can provide a few dozen from my files - if I ask my email list to post here I am sure all 40 will and I presume you will then see they are paid!

Please remember the first rule of holes is when in one stop digging!