The Edge Malaysia (Oct 8 2012) has a cover story on Geneva Gold.
There is a Genneva Malaysia Sdn Bhd branch in Times Square. I am aware of agents selling Geneva Gold in Kota Kinabalu. Many times, new investors are encouraged by existing investors when monthly dividends are received. Investors normally don't ask mcuh. My relative has a coffee shop in Foh Sang. Many business transactions of all types transact at the coffee shop.
To my surprise, it is estimated that there are 60K Genneva clients with investment more than RM3 billion. It is also selling in Singapore, Hong Kong, China and Philippines. There was a picture of our former PM holding a Genneva gold product at a corporate launch in 2010 in the presentation slides. It is quite hard to disbelief and to forgo such a good investment.
I feel sorry for the investors who have put in so much money, life saving, retiring money, EPF money, perhaps borrowed money from friends or banks to such investment. I sincerely hope that even if the company is running its business not according to law, there is still enough money to pay back to the investors.
Meanwhile, check your other investments with Bank Negara and Security Commission. You could have friends and family members who can assist you to understand what your other investments are. Even your unit trust investment and insurance policies, look for someone else who stay neutral to evaluate for you.
Showing posts with label Investment. Show all posts
Showing posts with label Investment. Show all posts
Thursday, 11 October 2012
Investment in Direct Selling etc
When we do any kind of investment, bear in mind that the money that you part with can bring you more money or can make you poorer. This is investment. If you can't afford to lose your money, don't do any kind of investment.
Special attention is to people who are above 40 years old, particularly for those who can't seem to get a good pay job or who feel that the later part of of their life is impossible to find a job, or to start a business.
For my past 20+ years, I have been invited to listen to 'successful' testimonies from direct sales, 'opportunity not to be missed' investments, at least twice per year.
I don't mind spending some time to listen to them because I don't want to be rude to my friends and relatives. After all, every time when I give them a chance to share, I am giving them a chance to practice their presentations, and to answer my questions to think about what they are sharing. However, I don't criticize them because I know when some one already in the 'investment', they must have put some money into what they think is bringing them hope.
About 3 years ago, a friend in her 40s joined a direct sales selling some kind of supplements magic to eye sight. She has never asked me to listen to her presentation as she knew that I would search the internet for information if in doubt of anything. I also prevailed in my biology class in high school. Since she is an active church member, her prospects are church members of those 40+ and less educated. These people would have developed problems of eye sight at these age. A friend said after drinking the 'potion', he could see clearly. However, it is not a cure. You need to drink daily to 'maintain' your eye sight. As usual, products from direct sales are never cheap. She was quite good at recruiting members and within 2 months, her commission was more than RM10,000 in a month. She showed her statement to my husband.
Anyway, because of the high 'maintenance' cost, most would only buy 1 time to entertain the agent. I don't know how she is now but her husband said that she is now selling Hong Leong insurance. Guess direct sales business did not maintain, in fact, direct selling never lasts long.
I was invited to listen to seaweed investment in Tawau. I was shown pictures of the seaweed farm and photos of both local and oversea investors visiting the farm. The agent told me how I can invest in terms of 'units', contracts will be given, and commission will be distributed, things like that. I personally feel that any firm wants to raise capital to expand their business, it should not be raised this way. I just asked him how much they want to raise. He said no limit. What kind of business when you want to raise money and there is no limit to it? I read in the paper last year that there was such company under investigation. However, I was also told by my husband that his sister was invited to join in such investment last month. I am disappointed that the authority is never strict enough and persistent to stop such activities to let many ignorant to lose their hard-earned money.
Special attention is to people who are above 40 years old, particularly for those who can't seem to get a good pay job or who feel that the later part of of their life is impossible to find a job, or to start a business.
For my past 20+ years, I have been invited to listen to 'successful' testimonies from direct sales, 'opportunity not to be missed' investments, at least twice per year.
I don't mind spending some time to listen to them because I don't want to be rude to my friends and relatives. After all, every time when I give them a chance to share, I am giving them a chance to practice their presentations, and to answer my questions to think about what they are sharing. However, I don't criticize them because I know when some one already in the 'investment', they must have put some money into what they think is bringing them hope.
About 3 years ago, a friend in her 40s joined a direct sales selling some kind of supplements magic to eye sight. She has never asked me to listen to her presentation as she knew that I would search the internet for information if in doubt of anything. I also prevailed in my biology class in high school. Since she is an active church member, her prospects are church members of those 40+ and less educated. These people would have developed problems of eye sight at these age. A friend said after drinking the 'potion', he could see clearly. However, it is not a cure. You need to drink daily to 'maintain' your eye sight. As usual, products from direct sales are never cheap. She was quite good at recruiting members and within 2 months, her commission was more than RM10,000 in a month. She showed her statement to my husband.
Anyway, because of the high 'maintenance' cost, most would only buy 1 time to entertain the agent. I don't know how she is now but her husband said that she is now selling Hong Leong insurance. Guess direct sales business did not maintain, in fact, direct selling never lasts long.
I was invited to listen to seaweed investment in Tawau. I was shown pictures of the seaweed farm and photos of both local and oversea investors visiting the farm. The agent told me how I can invest in terms of 'units', contracts will be given, and commission will be distributed, things like that. I personally feel that any firm wants to raise capital to expand their business, it should not be raised this way. I just asked him how much they want to raise. He said no limit. What kind of business when you want to raise money and there is no limit to it? I read in the paper last year that there was such company under investigation. However, I was also told by my husband that his sister was invited to join in such investment last month. I am disappointed that the authority is never strict enough and persistent to stop such activities to let many ignorant to lose their hard-earned money.
Tuesday, 28 June 2011
Invest in Oversea Land Banking?
I came to be aware of such investment about 3 years ago when a friend invited me to an office in Tanjung Aru Plaza. The company registered in Malaysia to market this investment was Eagle something. The talk was shared by a speaker from Singapore. Among the guests were some insurance agents, unit trust agents and of course, potential investors.
On the back drop of the office were impressive pictures of on-going constructions going on in the marketed sites.
We were told by convincing returns of the plots of lands sold in previous projects. This so-called new land was in Canada. The land was purchased in big piece and divided into smaller plots so that the price is affordable to retail investors like us. Investors are guaranteed with minimum returns and liquidity, blah blah blah. Once the Canadian authority approves the project plan, the plots of land will worth many times more than what we invest. Investors are invited to Canada to view the land, and even given the plot number like our land title. XD:
I had doubts in my mind as to why market the Canadian land in Singapore and Malaysia? How can I entrust this Malaysian Registered company to safeguard my money? All the financial investments in Malaysia are regulated and must be approved by Security Commission and Bank Negara. Should anything wrong, I don't think SC and BNM will get their hand in. Furthermore, instead of investing in land banking oversea which I have no control and won't have access to any reliable source of information related to my investment, why don't I just invest in Malaysia? Isn't plantation (oil palm) land more likely to give me better return?
I have not gone back to ask the investors about their investment but I have this interesting site to tell me my instinct was right.
http://www.learnmoney.co.uk/advice/advice-87.html
On the back drop of the office were impressive pictures of on-going constructions going on in the marketed sites.
We were told by convincing returns of the plots of lands sold in previous projects. This so-called new land was in Canada. The land was purchased in big piece and divided into smaller plots so that the price is affordable to retail investors like us. Investors are guaranteed with minimum returns and liquidity, blah blah blah. Once the Canadian authority approves the project plan, the plots of land will worth many times more than what we invest. Investors are invited to Canada to view the land, and even given the plot number like our land title. XD:
I had doubts in my mind as to why market the Canadian land in Singapore and Malaysia? How can I entrust this Malaysian Registered company to safeguard my money? All the financial investments in Malaysia are regulated and must be approved by Security Commission and Bank Negara. Should anything wrong, I don't think SC and BNM will get their hand in. Furthermore, instead of investing in land banking oversea which I have no control and won't have access to any reliable source of information related to my investment, why don't I just invest in Malaysia? Isn't plantation (oil palm) land more likely to give me better return?
I have not gone back to ask the investors about their investment but I have this interesting site to tell me my instinct was right.
http://www.learnmoney.co.uk/advice/advice-87.html
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