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 ICT Zone Ventures - 8% p.a. yield, Highly not recommended to invest

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TSronnie
post Aug 17 2011, 10:37 AM, updated 15y ago

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Excerpt from the website
WHAT IS ICT ZONE VENTURES SCHEME ?

ICT Zone Ventures Scheme is an investment scheme offered to public and institutions to invest in ICT rental business in Malaysia for the periods of 9 years. ICT Zone Ventures Scheme is the 1st ICT interest scheme approved by Malaysian government, regulated by Suruhanjaya Syarikat Malaysia (SSM) under Section 90 of the Companies Act 1965.

All the funds received from the investor will be managed by My Premier Trustee (Malaysia) Bhd.- a Trustee company approved by Suruhanjaya Syarikat Malaysia (SSM). Pannell Kerr Forster (PKF), one of the world's premier accounting and business advisory organizations is the independent consultant and auditor that audit the performance of the scheme and the company twice a year. Interest Holders (Subscribers) will enjoy a fixed 8% nett yield return per annum for the period of 9 years ending at 27 March 2020.

URL: http://www.ictventure.com.my

anybody invested in this scheme ?

This post has been edited by ronnie: Aug 18 2011, 02:28 PM
jack2
post Aug 17 2011, 10:52 AM

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Even it is regulated and governed by SSM, what are the protections given to investors?
michspc
post Aug 17 2011, 12:13 PM

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is this mutual fund or what? is it covered by PIDM?
Hansel
post Aug 17 2011, 12:14 PM

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Wow,.. 9% - better study the underlyings carefully....
jack2
post Aug 17 2011, 12:17 PM

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QUOTE(Hansel @ Aug 17 2011, 12:14 PM)
Wow,.. 9% - better study the underlyings carefully....
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8%, not 9% doh.gif doh.gif doh.gif doh.gif doh.gif doh.gif doh.gif doh.gif doh.gif doh.gif
monsta2011
post Aug 17 2011, 12:40 PM

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It better not be a Ponzi Scheme rolleyes.gif
spikyz
post Aug 17 2011, 01:20 PM

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Lets read first and discuss. What i found.

1. What is the minimum investment value per unit?

They are referred to as ICT Interests and the minimum investment value per ICT Interest is RM5,000.

2. Is there a limit to the number of units that I can invest?

No, there is no limit to the number of ICT Interests that you can invest.

3 . Is there a buy-back guarantee?

Yes, there is a buy-back of ICT Interests after a three-year lock-in period.

4 . How safe is my investment?

A scheme trustee approved by Bank Negara and Suruhanjaya Syarikat Malaysia - My Premier Trustee (Malaysia) Berhad [719395-T], has been appointed to oversee the Scheme and your capital is protected by a cumulative nine-year Redemption Reserve Fund managed by the approved scheme trustee. An independent consultant, PKF Accountants (AF 0911) has been appointed to audit the Scheme every six months to ensure its governance and transparency.


Added on August 17, 2011, 1:22 pm
QUOTE
he ICT Zone Ventures Scheme

The ICT Zone Ventures Interest Scheme provides opportunities to investors – the general public and public institutions, to participate in the profitable ICT equipment rental business. It is the first ICT Interest Scheme approved by the Malaysian government and regulated by Suruhanjaya Syarikat Malaysia (SSM) under Section 90 of the Companies Act 1965.

This redeemable ICT Interest Scheme offers investors an 8% fixed nett annual yield for a period of nine years on a minimum investment of RM5, 000 per ICT Interest. At the end of the nine-year period investors will be offered a full redemption of their investment capital. An investor’s capital is protected within a cumulative nine-year Redemption Reserve Fund which is managed by an established trustee.

A trustee company, My Premier Trustee (Malaysia) Berhad – approved by SSM, had been appointed to oversee the investment scheme. An independent consultant, PKF Accountants, audits the Scheme every six months to validate its governance.

The total approved fund size is currently at RM110 million and there are 22,000 ICT Interests already approved

The ICT Interest Scheme is fully transferable after the initial two-year lock-in period commencing 28th March 2011. There is a buy-back guarantee after the initial three-year lock-in period. Both Malaysians and non-Malaysians are eligible to apply for the Scheme. A Prospectus had been issued on 28th March 2011 and it expires on 27th September 2011.
This post has been edited by spikyz: Aug 17 2011, 01:22 PM
michspc
post Aug 17 2011, 02:06 PM

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QUOTE(spikyz @ Aug 17 2011, 01:20 PM)
Lets read first and discuss. What i found.

1. What is the minimum investment value per unit?

They are referred to as ICT Interests and the minimum investment value per ICT Interest is RM5,000.

2. Is there a limit to the number of units that I can invest?

No, there is no limit to the number of ICT Interests that you can invest.

3 . Is there a buy-back guarantee?

Yes, there is a buy-back of ICT Interests after a three-year lock-in period.

4 . How safe is my investment?

A scheme trustee approved by Bank Negara and Suruhanjaya Syarikat Malaysia - My Premier Trustee (Malaysia) Berhad [719395-T], has been appointed to oversee the Scheme and your capital is protected by a cumulative nine-year Redemption Reserve Fund managed by the approved scheme trustee. An independent consultant, PKF Accountants (AF 0911) has been appointed to audit the Scheme every six months to ensure its governance and transparency.


Added on August 17, 2011, 1:22 pm
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so is it safe to invest? is it too good to be true? 8% nett per annum for 9 years till 2020


kparam77
post Aug 17 2011, 02:28 PM

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QUOTE(michspc @ Aug 17 2011, 02:06 PM)
so is it safe to invest? is it too good to be true?  8% nett per annum for 9 years till 2020
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8%, almost = to ASB.


is this scheme register with securities Commissions?


deodorant
post Aug 17 2011, 03:12 PM

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Hmm this isn't any different from a company issuing bonds to finance their business operations / expansion, is it? So the "guarantee" is only as good as the company's available funds to pay the interest.
joey85
post Aug 17 2011, 04:56 PM

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means every year enjoy 8% interest and in 9th year (maturity) i can get back my initial capital in full?


Godek
post Aug 17 2011, 05:02 PM

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Their current office is old office one of popular ponzi scheme in Malaysia. Just better watch out. Maybe same people run it. tongue.gif


jack2
post Aug 17 2011, 05:17 PM

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I don't trust this scheme even regulated by SSM. They can still run away.

If the finance cost is 8%, why don't they get loan or overdraft facility from bankers?
kparam77
post Aug 17 2011, 05:19 PM

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QUOTE(joey85 @ Aug 17 2011, 04:56 PM)
means every year enjoy 8% interest and in 9th year (maturity) i can get back my initial capital in full?
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accrding to the scheme, yes as per below;

This redeemable ICT Interest Scheme offers investors an 8% fixed nett annual yield for a period of nine years on a minimum investment of RM5, 000 per ICT Interest. At the end of the nine-year period investors will be offered a full redemption of their investment capital. An investor’s capital is protected within a cumulative nine-year Redemption Reserve Fund which is managed by an established trustee.

BUT, NO COMPUNDING INTEREST LIKE UT. U CAN'T RE-INVEST THE DIVIDEDNS.


kucingfight
post Aug 17 2011, 05:59 PM

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Most important is

it should be regulated/under SC (securities commission)

SSM is nothing, any ah fatt/ abu / dorasamy companies can be registered.


Selectt
post Aug 17 2011, 06:11 PM

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QUOTE(kucingfight @ Aug 17 2011, 05:59 PM)
Most important is

it should be regulated/under SC (securities commission)

SSM is nothing, any ah fatt/ abu / dorasamy companies can be registered.
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+1
kaiserwulf
post Aug 17 2011, 06:28 PM

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QUOTE(kucingfight @ Aug 17 2011, 05:59 PM)
Most important is

it should be regulated/under SC (securities commission)

SSM is nothing, any ah fatt/ abu / dorasamy companies can be registered.
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+1
monsta2011
post Aug 17 2011, 06:45 PM

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If RM 5000 is a PEANUT to you then no harm trying tongue.gif
spikyz
post Aug 17 2011, 07:21 PM

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eh eh regards to my comment earlier, i invite u guys to discuss about this scheme. not promoting nor im saying its good.

i just want to know.
1. cover under pidm n such?
2. how much is the next investment topup, Rm500?
SUSMNet
post Aug 17 2011, 08:19 PM

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5000/lot

next is 5000

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