Operating since 2014 and duping hundreds of ‘investors’

18 percent returns per yearly. Sounds too good to be true? Actually, based on the current interest rates even for Malaysia, 18 percent per annum is still considered extremely high. If I am the owner of any banks here in Malaysia and such an investment is true, I would just invest all the savings from the people into the scheme and then pay 4.5 percent to all those who are putting their money into fixed deposits with my bank. Even at 4.5 percent per annum, I think I would get all the businesses from the savers. This is because all the rest of the banks are providing rates which are nowhere near me. Take a look at what ringgitplus.com is showing for some of the banks here in Malaysia. This is assuming we actually have RM100,000 to be put into the account for 12 months. Well, the 18 percent was really a carrot offered to ‘investors’ both Malaysia and Singapore. Do read The full article in asiaone.com here. 

The article shared that one property company is being investigated by the Singapore police. The company, Macro Realty Developments Pte Ltd was based in Singapore and offered investments to fund property developments in Pilbara, Western Australia. Investors were promised returns as high as 18 per cent yearly. It quoted promotional materials all the way from 2014 which told investors that it had other sources of revenue when it did not and that guarantors owned land assets when they did not. According to an ABC report, the company is controlled by Australian Veronica Macpherson and received over A$110 million (S$119 million). There were a total of 651 investors from Malaysia, 981 from Singapore, 31 from Australia, 58 from the United Kingdom and 17 from continental Europe. According to KPMG liquidator Hayden White, the scheme collapsed last year and the creditors are owned more A$200 million. (RM681 million) Full article in asiaone.com here.

If I am a Singaporean or even a PR, the savings rate in the banks based in Singapore are currently lower than 1 percent. Here’s link to moneysmart.sg to understand more. In other words, assuming the investors were promised 18 percent returns, this would be CRAZILY high. Seriously, if Singaporean based banks could only offer such rates, would it not be foolish to expect some company which is able to give such a high return? Well, what’s the interest rate like in Australia? Here’s a link to Australia’s savings rate in info choice.com.au. I think 3 percent is considered good. In other words, if I am an Australian and there’s a 18 percent return being promised, there’s no way that Australians themselves would have taken up every investment unit on offer. There’s just no opportunity at all for Singaporeans or even Malaysian investors. Well, perhaps I am just a poor Malaysian who is used to working hard, savings money slowly and invest with a very long term mindset. Perhaps that’s why I was not cheated, yet. Just perform at your work, it helps. 

written on 24 July 2017

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3 thoughts on “Operating since 2014 and duping hundreds of ‘investors’

  1. Lack of common sense and greed.

    If I can churn out 18% p.a returns, I do not need to market it to ordinary joes on the street. All the banks, fund managers etc will be forming a queue outside my office to sign up and give me tens of millions to invest for them.

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