Nov 18 2011, 10:28 AM
QUOTE(mintorox @ Nov 17 2011, 12:11 PM)
I agree with you about not being naive. Reading and understanding is of utmost importance. Therefore assuming that each and every company which conducts an Interest Scheme is stupid and is set up to fool average citizen is incorrect without firstly understand the concept and mechanism.
First and foremost find out who are the regulators for such investments. If it falls under SC, check their website to confirm that such investments has been approved. If it falls under SSM as in the above scenario, you can check their website to confirm whether it has been approved. Further example, if it falls under Co-operatives (Koperasi), you would refer to Suruhanjaya Koperasi Malaysia instead for such confirmation. If its under the Exchange Act then you would have to refer to Bank Negara and so on... That is how administration of law works. In layman terms, if there is a fire at your house, you will call the fireman. If there is a brawl outside your house, you will call the police. Same goes for regulators. It depends to which jurisdiction you fall under.
Please understand that SSM's powers and obligations are not restricted to just registrations of companies. They are a regulatory body as mentioned in my previous post to administer the Companies Act 1965 (in contrary to Security Commission which administer the Capital Market and Service Act 2007 which involves Bonds, Unit Trust, Reits etc. Please distinguish) . Under this legislation, it provides for the issuance of interest which can be offered to the public for subscription provided that it meets the requirement of the Act as well as the guideline of SSM.
For more informoation, you can contact SSM. You could even contact Ismail Sabri who is the Minister of Domestic Trade, Co-Operatives & Consumerism since SSM are under their directive.
that is very true. i had the opportunity to talk to the CEO of ICT Venture yesterday at the VC2E@GEW. like what mintorox had mentioned, this particular scheme falls under the purview of SSM and SSM does have ICT Zone Ventures Bhd listed under "equipment sharing scheme". you can check this on SSM website. what i understood from the CEO is that the capital is protected and they could only utilise this fund when they secure project, i.e. going to use the money to fund its equipment purchase for project use. besides, ICT Zone has been established and running the equipment rental business since many many years back and i believe this is not a fly-by-night company like many other scams. so far they have received about 10% application from their approved fund size of $110mil (in about 6 months period). still got plenty of opportunity for those who are interested to invest.First and foremost find out who are the regulators for such investments. If it falls under SC, check their website to confirm that such investments has been approved. If it falls under SSM as in the above scenario, you can check their website to confirm whether it has been approved. Further example, if it falls under Co-operatives (Koperasi), you would refer to Suruhanjaya Koperasi Malaysia instead for such confirmation. If its under the Exchange Act then you would have to refer to Bank Negara and so on... That is how administration of law works. In layman terms, if there is a fire at your house, you will call the fireman. If there is a brawl outside your house, you will call the police. Same goes for regulators. It depends to which jurisdiction you fall under.
Please understand that SSM's powers and obligations are not restricted to just registrations of companies. They are a regulatory body as mentioned in my previous post to administer the Companies Act 1965 (in contrary to Security Commission which administer the Capital Market and Service Act 2007 which involves Bonds, Unit Trust, Reits etc. Please distinguish) . Under this legislation, it provides for the issuance of interest which can be offered to the public for subscription provided that it meets the requirement of the Act as well as the guideline of SSM.
For more informoation, you can contact SSM. You could even contact Ismail Sabri who is the Minister of Domestic Trade, Co-Operatives & Consumerism since SSM are under their directive.
Quote
0.0253sec
0.86
5 queries
GZIP Disabled