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

Even it is regulated and governed by SSM, what are the protections given to investors?

is this mutual fund or what? is it covered by PIDM?

Wow,.. 9% - better study the underlyings carefully....

8%, not 9%

It better not be a Ponzi Scheme

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 pmThis post has been edited by spikyz: Aug 17 2011, 01:22 PM

so is it safe to invest? is it too good to be true? 8% nett per annum for 9 years till 2020

8%, almost = to ASB.


is this scheme register with securities Commissions?

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.

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

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

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?

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.

Most important is

it should be regulated/under SC (securities commission)

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

+1

+1

If RM 5000 is a PEANUT to you then no harm trying

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?

5000/lot

next is 5000

ronnie,

If this investment scheme is not approved by Securities Commission, then it is not a legitimate scheme. If the trustee is not a registered body with Bank Negara, then it is not eligible to hold public money.

Trustee list that can be found at SC website.

For bond
http://www.sc.com.my/main.asp?pageid=269&m...=&linkid=&type=
For unit trust
http://www.sc.com.my/eng/html/resources/st...tees_June06.pdf

Er can't find My Premier Trustee (Malaysia) Bhd on those lists

so is this good to invest?

hmm...a red flag perhaps! what's their management track record of success in such schemes I wonder!!

LOL, and after all these discussion, u've got no clue?

The sifus has highlighted issues with this investment....

SSM doesnt have ANY POWER on investment vehicles and approval of such i think.
Check it out:
http://www.ssm.com.my/en/corporate_power.php

Thus, the company seems to be misleading the public - might as well say approved & regulated by ROC
"Mother's a woman"

This post has been edited by wongmunkeong: Aug 18 2011, 04:26 PM

Is a scam??

Hahah thats a nature of business.

anyway, anyone contact the company to find out more?

and all d noobies den come in and post one liner perhaps looking for post count anyway i dont think they even read d article.

Read inside and know this scheme is work under company act 1973 section 90.

http://www.ssm.com.my/acts/fscommand/a0125sc007.htm

What is this about?

SSM approve the company registration for what ever usage as long as it does not breach the company act. However, in order to have investment scheme that involve public funding, the company needs approval from securities commission and a trustee approved by bank negara.

SSM (Suruhanjaya Syarikat Malaysia) and SC (Securities Commission) are different thing la friend. One approve company registration only. One approve investment scheme.

For example, One can have the company nature of business approve by SSM (like importing drugs for medical usage), but in order to really import drugs for medical usage, one need license from MOH. So do you think as long as SSM approve the company i can really go and import drugs? Same to selling of commercial diesel, investment scheme etc. company.

Sifu from this thread, my explanation sounds good?

very clear to me. Make sense now. thanks for the explanation =)

If its not approved by the SC, no point to invest even with the SSM in hand..

SC controls investment related institutions and grands licenses to those people to collect deposits..

SSM is just a company issuing license commission..

Don't get confused of it.. ^^

Hmmm....
But those company registered under SC is investment type company. This company is IT type company.

This scheme is just like a corporate funding project or company bond. I think they not necessary register under SC, because it is just one time one project only.

As long as they complied the company act section 90, they are legal.

I heard many type of investment scheme same as them, like country heights oild palm in Kelantan, Nirwana memorial park, they are quite long and seem no problem until today.

Maybe this scheme is new and all sifu here not familiar it and object it.

Thats is my opinion.^^

Interest Scheme falls under under PART IV - SHARES, DEBENTURES AND CHARGES
DIVISION 5 - INTERESTS OTHER THAN SHARES, DEBENTURES, ETC under the Companies Act 1965 ("Division 5"). You may further refer to S84 of Companies Act 1965 [/COLOR] for the definition of "Interest" referred to in "Interest Scheme". Suruhanjaya Syarikat Malaysia ("SSM") is the regulatory body which regulates the above legislation.

In order for a company to offer interest for the subscription to public they must first fulfill the requirement set-forth by Division 5 as well as the Guidelines of SSM for the schemes (which can be found on their website). In short the above are basically mechanisms to ensure the protection of the investors who consist of the general pubic.

A Trust Company does not require to be registered under the Securities Commission for the simple reason as it does not fall under their jurisdiction but instead of SSM's as mentioned above. The requirement of the appointment of a Trustee is described under S87 of the Companies Act 1965 and the provisions of the Policy Guidelines respectively issued by SSM. The Trustee serves as a watchdog for SSM in monitoring and reporting any breaches to which a company offering interest may have committed.

As such, u should firstly get hold of the prospectus of ICT Zone which describes the terms of the said offering if you are interested. The excerpts and advertising materials are merely an invitation to treat.

Another tip is that SSM provides for the list of Approved Schemes in their website to ensure that the company you wish to invest in has legitimately registered its scheme.







This post has been edited by mintorox: Nov 16 2011, 09:45 PM

Spot on! Don't be naive and invest in this stupid company that is set up to fool the average citizens.

This post has been edited by MilesAndMore: Nov 16 2011, 11:06 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.

All public mutual / unit trust fund are regulated by Security Commission, not SSM

What I can said here 200% not safe, just like gambling...

My Premier role under this Scheme are:-
Following under the Companies Act 1965 is to ensure that the rights and interests of members who participated in this scheme are safeguarded . MY Premier also ensures the management company /operator exercises due diligence in carrying out its duties as described in the Trust Deed in accordance with provisions of the Companies Act 1965 and various guidelines by Companies Commission of Malaysia issued from time to time. MY Premier carries out its obligations and duties as Trustee to preserve the interest of investors/members in accordance to the respective scheme structure approved Companies Commission of Malaysia or Suruhanjaya Syarikat Malaysia.

Same role as "Watchdog" & not as ICT Zone ventures claim in their website as Fund Management cause My Premier don't have authority (License From SC) to collect & invest public money.... so watch out here...

My point are here, refer ICT Zone claim below:-

1) All the funds received from the investors will be managed by My Premier Trustee (Malaysia) Bhd.

http://www.ictventure.com.my/index.php?opt...tpage&Itemid=28

2) A trustee company, My Premier Trustee (Malaysia) Berhad – approved by SSM, had been appointed to oversee the investment scheme.

http://www.ictventure.com.my/index.php?opt...d=48&Itemid=76..

Managed vs Oversee... are this 2 word carry same or difference meaning & responsibility...

Others - Funny thing inside MY Premier Trustee (M) BHD

Never seen/face/saw this before... PUAN SABRINA BINTI RUGAI she are 1 of Company Director but his just Manager in company management team where she are supposed to be an Executive Director or Chief Finance Officer....

Board of Director
http://www.mpt.com.my/board-of-directors.php

Management Team
http://www.mpt.com.my/key-management.php

This post has been edited by Oldskolboyz: Nov 18 2011, 10:04 AM

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.

Than I know what their modus operandi, to obvious sdn bhd to bhd with 5m paid-up capital... "PAPER GAME"... Vastalux, Tracoma, Oil Corp, Transmile those are paper game victim.. Metronic Global could be next coz as at to date carry RM80m liability.... Project can create either from hell or haven... Old trick, It look ICT Zone just new boy in this game coz can see it clearly. When they fail to deliver as per their scheme, what they can do/offer to investors just covert investment unit to company share. To make sure they can do this, they need Public Limited Company or BHD (WHY Sdn Bhd to BHD)... That why I said Old Trick. Right now responsible people never use this method anymore, they look/get/obtain SBLC from Overseas Bank than they enter/join "PAPER GAME"..

This post has been edited by Oldskolboyz: Nov 18 2011, 11:50 AM

All companies operating schemes under the Companies Act must be a Berhad Company. Its a requirement set forth by SSM and not the Company. therefore assuming they are new boys playing new trick might be abit hard


As for a Trust Company's, they are empowered under Section 8 (1) namely subsection (g) of the Trust Companies Act 1949 (http://www.agc.gov.my/Akta/Vol.%202/Act%20100.pdf)

However they would have to follow the guidelines set forth by and in accordance with the jurisdictions of respective regulators

Actually i think 8% is reasonable enough...

About ur opinion on the company bond, i think its logic also..

dont simply assume everything comes under previu of SC.. interest scheme means joint venture.. SSM is already playing a role of regulator even before SC... for unit trust also if you read the procpestuc ..wht does it say?

A copy of the Funds' prospectus featured in this website has been registered with the Securities Commission.

The Securities Commission shall not be liable for any non-disclosure on the part of the management company and takes no responsibility for the contents of the Prospectus/Information Memorandum, makes no representative as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the Prospectus/Information Memorandum.


Please read and understand the contents of the respective Fund's Prospectus/Information Memorandum (Principal and/or Supplemental - if any) before investing in the Fund. A copy of the above Prospectus/Information Memorandum can be obtained from any of our offices and all authorized agents/distributors of


so if the NAV of the fund goes down ..SC is not going help you..get your money back...or if the fund doesnt pay u dividend.. its more of the preformance/capabilities of the fund managers .. any investment has its risk..

The fund might be regulated by SSM, there is Management Agreement to governed this fund..

But there is a few things that u need to understand from the Management Agreement:-

1) There is an annual management fee of 0.15% over the net returns of 8%
2) Under the Termination by Deed section, it states '.... If the Management Company exercises the Termination Option, the Management Company is obliged to refund to each ICT Interest Holder an amount not less in value than Seventy Percent (70%) of the ICT Interest Value received under the Scheme by the Management Company from the respective ICT Interest Holder..

What do you guys think?

I got a reply from Bank Negara Malaysia. Just for your reference:

Tuan,

Kami merujuk kepada e-mel tuan bertarikh 26 Oktober 2012 mengenai perkara di atas.

Untuk makluman tuan, Bank Negara Malaysia (Bank) tidak pernah mengeluarkan sebarang lesen kepada syarikat tersebut untuk menjalankan operasi atau menawarkan produk/perkhidmatan kewangan. Untuk panduan tuan, jika sesuatu skim pelaburan tersebut jelas menawarkan peluang pelaburan dengan mengutip wang orang ramai dan kutipan atau pelaburan tersebut diberi pulangan mengikut jangkamasa tertentu yang mana pelaburan asal juga boleh diambil semula, ianya mungkin menyalahi seksyen 25(1) Akta Bank dan Institusi-institusi Kewangan 1989 (ABIK). Aktiviti pelaburan seperti yang disebut di atas adalah menyalahi undang-undang. Sekiranya tuan melabur disini, sebarang kerugian adalah ditanggung sendiri. Kami mengesyorkan agar tuan hanya melabur di institusi-institusi kewangan yang berlesen sahaja.

Untuk kemudahan tuan mengenal pasti sama ada sesebuah institusi kewangan/syarikat itu berlesen dengan Bank atau sebaliknya, sila rujuk senarai institusi kewangan/syarikat yang diberi lesen oleh Bank di laman web kami seperti di pautan berikut:
http://www.bnm.gov.my/index.php?ch=17&pg=54&ac=57

Sekiranya syarikat/institusi kewangan tersebut TIDAK TERSENARAI di dalam laman web kami, bermakna syarikat tersebut TIDAK DIBERI LESEN oleh Bank untuk menjalankan operasi atau menawarkan produk/perkhidmatan kewangan.

Tuan juga boleh merujuk kepada laman web Suruhanjaya Sekuriti (SC) untuk membuat pengesahan lanjut di pautan-pautan berikut:
1. http://www.sc.com.my/eng/html/licensing/licenseMain.html
2. http://www.sc.com.my/eng/html/licensing/in...Alert_list.html
3. http://www.sc.com.my/eng/html/licensing/in...IApg_other.html

Berdasarkan laman web ICT Zone Venture Bhd ( http://www.ictventure.com.my/ictventuresnews/index.php ), kami mendapati bahawa syarikat ini adalah dikawalselia oleh Suruhanjaya Syarikat Malaysia (SSM) di bawah skim berkepentingan (http://www.ssm.com.my/en/company/is-registered-scheme-public?field_is_category_value=All&field_state_list_value=All&field_is_status_value=All&=Apply). Oleh yang demikian tuan adalah dinasihatkan untuk membuat pengesahan lanjut dengan SSM berhubung syarikat ini dan skim yang ditawarkan oleh mereka tuan dengan menghubungi mereka secara terus di alamat berikut:

Suruhanjaya Syarikat Malaysia
Menara SSM@Sentral
No 7, Jalan Stesen Sentral 5
Kuala Lumpur Sentral
50623 Kuala Lumpur.
Tel : 03-2299 4400
Fax : 03-2299 4411
Hotline : 03-22995500
Emel : enquiry@ssm.com.my
Bahagian Penguatkuasaan: rufaiha@ssm.com.my

Terima kasih.

Kami amat menghargai sekiranya tuan dapat meluangkan masa untuk melengkapkan satu kaji selidik untuk membantu kami menilai dan memperbaiki kualiti perkhidmatan kami.

Bersama-sama ini turut dilampirkan panduan kepada pengguna berkaitan isu-isu kewangan untuk makluman.

Untuk mengetahui lebih lanjut tentang amaran penipuan kewangan, sila layari
http://www.bnm.gov.my/index.php?ch=216&pg=701&ac=98
dan http://www.bnm.gov.my/microsites/fraudalert/index.htm

Untuk mengetahui lebih lanjut tentang perbankan, insurans & takaful, sila layari http://www.bankinginfo.com.my dan
http://www.insuranceinfo.com.my

Noraishah Mohd Yacob
BNMTELELINK
Bank Negara Malaysia
No Tel : 1-300-88-5465
No Faks: 03-21741515
Email : bnmtelelink@bnm.gov.my

anyone still interested in this?? heard its doing ads everywhere on radio.. trustworthy plz advise sifu?

I saw this in a fair, i am interested but I afraid it is another scam like G gold, possible?

+1, SSM doesn't regulate, they just require to file company financial statement, SC is the one monitor the company doesn't play with investor money, if SC don't regulate, then there is no control

no one dive into this anymore?

So what is the conclusion? Is this legal and safe?

This scheme still surviving ? any investor from 2011 to comment ?

Ya I heard from One FM this morning. Any investors got the returns already?

All cheat wan.... No return

The annual yield for last year 2012 was 8% + 2% profit sharing.

The scheme is monitored by Islamic Banking & Finance Institute Malaysia (IBFIM) where IBFIM is registered and licensed by the Securities Commission (SC) of Malaysia.

It is regulated by SSM under Interest Scheme Act, and it is also audited by Shariah Advisor under SC. Further, investment fund is managed by the Trustee. The subject issuer has existing business to generate sufficient profit to pay for the obliged annual yield of 8% + 2%.

PM me for more details on the scheme, no obligation.

It is totally a different platform. G. Gold is not regulated by SSM/SC/BNM.

Somebody to prove is the investment is alright?
Last time Genneva got Dr M also..so what else?

You can check SSM website and you will see ICT in the list of the registered Interest Scheme.

Read la from 1st page to last page, so far only 3 pages, after u've read all, then u'll totally understand if it's safe or not!

U're responsible solely for your own judgement!

what is this company business?

The company is doing ICT Rental. Most of their clients is Government agencies.

Latest yield payment received by the investors on 15th Jan 2014.

Can check also their facebook Facebook

I'm one of the investor and now i already received my second yearly payment

but their trustee is very fishy.

beware

how fishy? please tell your side of story for all of us to judge otherwise not very fair for the one being accused.

https://www.facebook.com/photo.php?fbid=604...&type=1&theater

my premier trustee which is used by them is not registered under SC
http://www.sc.com.my

Look at My Premier’s Trustee’s company profile ( http://www.mpt.com.my/Company%20Profile%202011.pdf) . Then, take a look at the companies they worked with. Notice none are companies u heard of. Next, google those companies. And……



3a) AZZ Marketing. Some headlines when u search in google (in 1st page) are,
– “AZZ Marketing Tidak Bayar Hasil Pemilik”
– “Azz Marketing menipu jutaan ringgit duit rakyat”
– “AZZ Marketing Berhad Pelaburan Ikan Keli Penipu!”

ok at least this is some fact you reference to, let me give my opinions below :-

Not sure you are clear that interest scheme actually is SSM product and not SC product, hence the trustee need not registered with SC as long as recognized by SSM, unless the trustee want to handle SC product then they need to register with SC. Will you expect for example a will trustee to registered under SC as well?


Looks like SSM was taking action against them, contradict to some say they are powerless.
https://www.ssm.com.my/en/press-release/pen...ad-dituduh-oleh

Now to be fair, for this case was it the fault of trustee that lead to this? I doubt so bcos no action taken on them so far ... otherwise some one with proof can sue them and make quick buck, just like you can't fault an accounting firm that do audit on a bankrupt firm as long the accounting firm do their job professionally.

I guess so far I can only fault them of still being unknown but not that they are illegal.

This post has been edited by apathen: Mar 17 2014, 10:15 PM

u need understand what is sow for trustee.

will company is different as it did not hold any $$ from investor.

and did u notice that majority of My Premier’s Trustee’s customer, which use My Premier’s Trustee’s is a potential scam company?

First, let’s look at REIT’s Trustees. I’ve found there are 14 REITs in Malaysia, and below are the REITs and the Trustee they used. Note that AR stands for Annual Report. All AR can be obtained (and verified) from http://www.bursamalaysia.com/ .




1. AMANAH HARTA TANAH PNB – Amanah Raya Berhad (page 2 of 2010′s AR)
2. AMANAHRAYA REAL ESTATE INVESTMENT TRUST – CIMB Trustee Berhad (page 4 of 2010′s AR)
3. AMFIRST REAL ESTATE INVESTMENT TRUST – Mayban Trustees Berhad (page 5 of 2011′s AR)
4. ATRIUM REAL ESTATE INVESTMENT TRUST – BHLB Trustee Berhad (page 15 of 2010′s AR)
5. AXIS REAL ESTATE INVESTMENT TRUST – OSK Trustees Berhad ( page 3 of 2010′s AR)
6. AL-HADHARAH BOUSTEAD REIT – CIMB Trustee Berhad (page 28 of 2010′s AR)
7. CAPITAMALLS MALAYSIA TRUST – AmTrustee Berhad (page 20 of 2010′s AR)
8. HEKTAR REAL ESTATE INVESTMENT TRUST – AmTrustee Berhad (page 32 of 2010′s AR)
9. AL-’AQAR KPJ REIT – Amanah Raya Berhad ( page 5 of 2010′s AR)
10. QUILL CAPITA TRUST – Mayban Trustees Berhad ( page 2 of 2010′s AR)
11. STARHILL REAL ESTATE INVESTMENT TRUST – Mayban Trustees Berhad (page 14 of 2011′s AR)
12. SUNWAY REAL ESTATE INVESTMENT TRUST – OSK Trustees Berhad (page 7 of 2011′s AR)
13. TOWER REAL ESTATE INVESTMENT TRUST – Am Trustee Bhd (page 3 of 2010′s AR)
14. UOA REAL ESTATE INVESTMENT TRUST – OSK Trustees Berhad ( page 5 of 2010′s AR)



How many of the 14 REIT uses Trustee that is listed in SC’s website? ALL !!!Or, let me rephrase the question differently. How many of the 14 REIT uses non-registered Trustee ? NONE !.



Just in case someone might say that this interest scheme by SSM is different from REIT or Unit Trust (since both REIT and Unit Trust uses registered Trustee which can be found in SC’s website), i’ve dug further to the SSM’s interest scheme companies.



There are currently 3 types of interest scheme in SSM, Sharefarming Scheme , Equipment Sharing and this Property Scheme. For convinience, let me list all the companies below, and the trustee they used.
- AZZ MARKETING BERHAD – MY PREMIER TRUSTEE
- GOLDEN PALM GROWERS BERHAD – AmTrustee Berhad – ( http://goldenpalm.com.my/auditors.html )
- PLENTIFUL GOLD-CLASS BERHAD – BHLB Trustee Berhad ( http://www.chgs.com.my/trustee.asp )
- AROWANA VENTURE BERHAD – MY PREMIER TRUSTEE
- SWIFTLET ECO PARK BERHAD – PB Trustee Berhad ( http://www.swiftletecopark.com.my/scheme_why_esris_5key.htm
- EAST WEST ONE CONSORTIUM BERHAD – Equity Trust (Malaysia) Bhd – ( page 10 of the company’s eprospectus here: http://www.eastwestone.com/downloads_eprospectus.html )
- ICT ZONE VENTURES BERHAD – MY PREMIER TRUSTEE
- AVENUE PROPERTIES BERHAD – MY PREMIER TRUSTEE

I think you just copy and paste from someone's blog without properly digesting it.


Firstly, WILL's trustee will hold the asset of the individual WILL owner if they passed away and that is not money to you ?

Secondly, who regulate REIT? It's SC. So what is so surprise that all REIT's trustee registered with SC? it's only a surprise if it's not.

why these dont want use SC regulated trustee?

something to hide?

Those are the questions may be you need to post to respective companies , or ssm why they don't want to share sc regulated trustee.
The answer can varies, may be they are more pricey? have no experience dealing with interest scheme? not licensed by ssm?

But for the company is concern they are following the rule.

u can try ask ict why they dont chose sc regulated trustee

Bcos they don't have to.
Think about it, if ppl ask you why you drive a Myvi and not a BMW, will that make your Myvi fishy?

If i got a chance i shall ask.

This post has been edited by apathen: Mar 18 2014, 12:52 AM

Has anybody entered share with us their profit sharing part ?
Putting in a multiplier of RM5000 for a 8% PA is decent, and a 3 year buy back. On top of that, there is "Profit Sharing"
I didnt go into detail, but wonder where are they generating this source of income.

wah their website spread virus

profit sharing they can declare either every year or end of tenure, according to shariah's akad mudharabah ratio will be 3:7.
Their record of dividend distribution thus far:
2011 - 8%
2012 - 8+2%
2013 - 8%

study their prospectus and u will know nature of their business and depict their profit margin then analyse yourself viable or not..

This post has been edited by apathen: Mar 21 2014, 12:00 AM

Kinda lazy to research on them, and since LYN has a topic, would be great if the insiders or the person who has invested can give their feedback

do they provide details financial statement for each quarter?

i'm lazy too bruder but no pain no gain , last time their sales agent spend not less than 2 hours answer my what, why, when, how .. so cannot expect me repeat those details here plus that should be their job, so if u r lazy to read better engage their representative, if can't find one pm me for the agent's contact, lest ppl say i have motive. Reason i bump into this thread bcos cannot tahan some just spilled half truth and treat it like gospel, refuse to accept new info and continue barking at wrong tree that mislead the public for so long. however if u got small question one at a time that's within my knowledge i can try to share when i'm free, that suppose to be the purpose of this platform isn't it? peace

i guess that depend on antivirus. i have two laptops one install with avast and one with bitdefender. Avast reported the threat but bitdefender no.

nope only yearly.

what auditor they engaged?

PKF.
can go read the prospectus info all there.

what different between buy from member compare to buy direct from company?

This page in their website is for two purpose: -
(i) For existing investors to sell their investment units
(ii) For new investors to buy investment units from (i)

Benefits to buy from existing investor: -

(i) New investors get higher profit sharing from old units

Reason: ICT Zone Ventures Scheme is Shariah-compliant. That means on top of the 8% annual yield, investors are also entitled to additional profit sharing in the end of the scheme (year 2020) based on business performance.

Example: Let's say new investor Mr. Jacky buy directly from company now (March 2013). The unit investment date will start now, in the end of the scheme (year 2020), his profit sharing will be calculated start from 2013.

If Mr. Jacky now buy directly from existing investor Mr. Leon who already start invest since Jan 2012, then the unit investment date will start from 2012 and in the end of the scheme (year 2020), his profit sharing will be calculated start from 2012. Earlier means better.


(ii) New investors may get cheaper price

Reason: The original price for one unit is RM5000. However as you can see, the existing investors who wanna sell can choose to sell at lower price.
What? Then means the seller will suffer loss la? Why seller willing to suffer loss to sell their units?

Not really, the seller don't really suffer loss, even selling at lower price.

Example: The return for this investment is 8% per year and RM5000 x 8% = RM400 (every year).
Let's do a simple calculation, Mr. Leon start invest since Jan 2012.
That's mean until now (March 2014), he already invested for 2 years and a little bit.
Assume he want to sell his investment unit now and set the selling price at RM4500.
If someone buy from him now, he will get RM4500.
From the total cycle of Mr. Leon investment, he get returns of:-
RM4500 (Selling price) + RM400 (8% returns from year 2012) + RM400 (8% returns from year 2013) = RM5300

Means still get RM300 returns from RM5000 he invested at first.

Justification to sell at lower price: Most probably is because the seller need fast cash.
If other seller offer RM5000, but you offer RM4500, most probably you will sell faster. Open market.
However seller have to make sure selling price cannot less than [RM5000 - returns already received],
if not, will suffer lost.

However if existing seller can wait, then he can just set the selling price as per original price RM5000.
Use back the example of Mr. Leon, if he choose to sell at original price RM5000.
Then from the total cycle of his investment, he will get returns of:-
RM5000 (Selling price) + RM400 (8% returns from year 2012) + RM400 (8% returns from year 2013) = RM5800

Means get RM800 returns from RM5000 he invested at first.

What is the fee involve if buy from other investor?

I see from calculation buying from other investor(rm4600) will be more profitable compare to buy direct from company

Oh ya, forget the admin fees d :x

If I didn't rmb wrong, RM100 will be charged toward seller, but not the buyer.
If the selling price is RM4600, then buyer only pay RM4600.

So correction here, if buyer don't want to suffer loss, then the selling price cannot less than
[RM5000 - Returns already received - RM100]

Ya, if existing investor is willing to sell at lower price, then buying from existing investor is recommended.

what mean by the company will refund the ICT investor the total amount invested minus the dividend given received by ICT investor?

When you don't want to keep the investment units anymore, you have 2 options:-

1.) Sell to others (like last post mentioned)
2.) Sell back to the company (aka Buy-back)

Buy-back

Meanings: The company will refund to investor the total amount invested minus the returns already received.

Example: The return for this investment is 8% per year and RM5000 x 8% = RM400 (every year).
Use back the example for Mr. Leon, he start invest since Jan 2012.
That's mean until now (March 2014), he already invested for 2 years and a little bit.
Assume he want to trigger Buy-Back now.

Total amount invested: RM5000
Dividend received: RM400 (year 2012) + RM400 (year 2013)
Admin fees: 1% = RM50 (This time I rmb d )
Total Refund he can get back: RM5000 - RM400 - RM400 - RM50 = RM4150

Means in total investment cycle, he get returns of:-
RM400 + RM400 + RM4150 = RM4950
In the end, Mr. Leon lost RM50 from RM5000 he invested at first.

Conclusion:
Thus trigger Buy-back is not recommended at all,
cuz u will get totally nothing after put the money there for several years,
u invested RM5000, u get back RM5000.
plus still need to pay the 1% admin fees.Will lost no matter how.
However the lost will limited to the 1% admin fees only.

If you want to sell the investment units, go for "selling to other investor" option.
Unless you really really really need fast cash.

actually u just discover yourself a bargain if want to make a quick buck then should quickly grab this, the bargain i'm talking about for this case are:

Firtsly, instantly you got an 8% discount (5000-4600)/5000 = 8%

Secondly, for this year you dun need to sit for the full year but only 9 more months to receive your dividend so effectively it's >8% p.a. for this year, and effectively subsequent year return should consider as more than 8% (i.e. 400/4600 = 8.69%) bcos your cost only at 4600

Thirdly, u gain extra 2 years in profit sharing calculation at end of tenure


in fact this is the first time i saw ppl sell at this price rm4600 may be they really desperate to cash out ... for the rm100 admin fee i think is negotiable with the seller who wanna bear it.