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While I was looking about TWOD in the web I found following
one of those site has links back to this forum (http://forum.srilankaequity.com/t24518p200-touchwood-is-touchwood-in-trouble)
may be its the same people who do posts in both sites.
I have no idea weather those accusations 100% correct or not,
but it wouldn't hurt to read some of them.
AGARWOOD INVESTORS SMELL SOMETHING BAD
Well they say money does not grow on trees. But of course it does, and people are investing in forests all over the place. Buy a tree and your money should grow as the tree grows. Voilà!
And don't forget the feel-good factor - you're helping the environment (well in this case with a view to burning it later).
Well that’s the theory anyway. But it does not always work like that. Lots of people have put money into a company called Touchwood. Touchwood is based in Sri Lanka, but set up offices in Thailand, Dubai and Hong Kong looking for foreign investment.
People were approached to invest in bamboo and agarwood with amazing returns promised. Agarwood is burned for its perfumed smell by the way. It comes from the Aquilaria tree. Now it seems like US$40 million may have gone up in smoke (albeit sweet smelling).
Touchwood set up plantations in Thailand, in Kabin Buri and Prachin Buri and, say punters, they are still aggressively selling to Thais and foreigners, but meanwhile it’s MD Roscoe Maloney a Sri Lankan has hopped it back to Sri Lanka and closed the Dubai, Bangkok and Hong Kong offices.
http://www.andrew-drummond.com/2013/03/investors-who-put-money-in-incense-see.html
more to read.
http://touchwoodinvest.com/
https://s1273.photobucket.com/user/Touchwood_Investors/library/Touchwood_plantations_feb_25_26_2013?page=1
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I'm not holding TWOD shares or not an investor in TWOD and not trying to promote or demote this share
one of those site has links back to this forum (http://forum.srilankaequity.com/t24518p200-touchwood-is-touchwood-in-trouble)
may be its the same people who do posts in both sites.
I have no idea weather those accusations 100% correct or not,
but it wouldn't hurt to read some of them.
AGARWOOD INVESTORS SMELL SOMETHING BAD
Well they say money does not grow on trees. But of course it does, and people are investing in forests all over the place. Buy a tree and your money should grow as the tree grows. Voilà!
And don't forget the feel-good factor - you're helping the environment (well in this case with a view to burning it later).
Well that’s the theory anyway. But it does not always work like that. Lots of people have put money into a company called Touchwood. Touchwood is based in Sri Lanka, but set up offices in Thailand, Dubai and Hong Kong looking for foreign investment.
People were approached to invest in bamboo and agarwood with amazing returns promised. Agarwood is burned for its perfumed smell by the way. It comes from the Aquilaria tree. Now it seems like US$40 million may have gone up in smoke (albeit sweet smelling).
Touchwood set up plantations in Thailand, in Kabin Buri and Prachin Buri and, say punters, they are still aggressively selling to Thais and foreigners, but meanwhile it’s MD Roscoe Maloney a Sri Lankan has hopped it back to Sri Lanka and closed the Dubai, Bangkok and Hong Kong offices.
http://www.andrew-drummond.com/2013/03/investors-who-put-money-in-incense-see.html
more to read.
http://touchwoodinvest.com/
https://s1273.photobucket.com/user/Touchwood_Investors/library/Touchwood_plantations_feb_25_26_2013?page=1
-------------
I'm not holding TWOD shares or not an investor in TWOD and not trying to promote or demote this share
