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

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apathen
post Mar 17 2014, 04:32 PM

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QUOTE(MNet @ Mar 5 2014, 09:18 PM)
but their trustee is very fishy.

beware
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how fishy? please tell your side of story for all of us to judge otherwise not very fair for the one being accused.
apathen
post Mar 17 2014, 04:40 PM

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QUOTE(mikro @ Feb 4 2013, 11:28 PM)
+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  tongue.gif
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https://www.facebook.com/photo.php?fbid=604...&type=1&theater
apathen
post Mar 17 2014, 10:13 PM

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

QUOTE(MNet @ Mar 17 2014, 08:52 PM)
my premier trustee which is used by them is not registered under SC
http://www.sc.com.my
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?


QUOTE(MNet @ Mar 17 2014, 08:52 PM)
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!”
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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
apathen
post Mar 17 2014, 10:37 PM

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QUOTE(MNet @ Mar 17 2014, 10:28 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
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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.





apathen
post Mar 17 2014, 10:55 PM

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QUOTE(MNet @ Mar 17 2014, 10:46 PM)
why these dont want use SC regulated trustee?

something to hide?
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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.

apathen
post Mar 17 2014, 11:22 PM

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QUOTE(MNet @ Mar 17 2014, 11:21 PM)
u can try ask ict why they dont chose sc regulated trustee
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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
apathen
post Mar 21 2014, 12:00 AM

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QUOTE(Azurika @ Mar 18 2014, 09:41 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.
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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
apathen
post Mar 22 2014, 03:43 PM

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QUOTE(Azurika @ Mar 21 2014, 08:49 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  laugh.gif
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i'm lazy too bruder but no pain no gain smile.gif , 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 icon_rolleyes.gif
apathen
post Mar 22 2014, 03:46 PM

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QUOTE(MNet @ Mar 20 2014, 10:10 PM)
wah their website spread virus

user posted image
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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.
apathen
post Mar 22 2014, 03:47 PM

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QUOTE(MNet @ Mar 21 2014, 08:38 PM)
do they provide details financial statement for each quarter?
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nope only yearly.
apathen
post Mar 22 2014, 11:56 PM

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QUOTE(MNet @ Mar 22 2014, 06:21 PM)
what auditor they engaged?
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PKF.
can go read the prospectus info all there.
apathen
post Mar 30 2014, 05:30 PM

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QUOTE(MNet @ Mar 26 2014, 09:35 PM)
what different between buy from member compare to buy direct from company?

user posted image
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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.
apathen
post Mar 30 2014, 06:23 PM

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QUOTE(MNet @ Mar 30 2014, 05:44 PM)
What you mean by earn extra 2 year profit at the end tenure?
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if u notice carefully that guy bought that unit at 23April2012 aka contract date, the profit sharing calculation start from the contract date which is about 2 years ago, but u only got transfer the unit now hence the gain of 2 years. (Technically buy old contract should refer as transfer)

As mentioned this product is shariah compliant and according to the akad it will be 30:70 profit sharing, in short 30% of the profit will need to distribute among interest holder at end of tenure at year 2020.


apathen
post Mar 30 2014, 10:12 PM

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QUOTE(MNet @ Mar 30 2014, 07:02 PM)
u mean investor will only get the dividend at 2020?
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8% dividend payout is yearly, but the profit sharing can either declare yearly or the latest at end of tenure must distribute, refer to my earlier post it was mentioned there.

Simply, just set a correct mindset that minimum dividend expected to receive is 8% yearly and anything extra is a bonus, hence they call it as profit sharing. I agree with some view that this kinda have combine characteristic of bond + reit , that's why it's unique.

It's a pity before start to understand and seek clarification, some just try to shoot down first, may be they are insurance/unit trust agents that feel threatened, just look at the title of this thread 'Highly not reccommended ...' yet no valid reason given not sure what is the motive ... deprive an alternative to those who seek fixed term income.
apathen
post Mar 30 2014, 11:16 PM

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QUOTE(Showtime747 @ Mar 30 2014, 10:25 PM)
Nobody is to be blamed except the management. It shows the bad PR and zero attention to publicity and investor relationship
those publicity may not reach you, but to accuse zero publicity is not true otherwise i will not come to know about it and some will not pop in here to ask question, if want to question the effectiveness of their publicity then i may have to agree.


QUOTE(Showtime747 @ Mar 30 2014, 10:25 PM)
Please dont put the blame on competitor when it is the management's responsibilities to sell the company
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who put the blame on competitors? i only question the motive of thread starter with irresponsible title without prove and some of those just shoot from the hip...
apathen
post Mar 30 2014, 11:23 PM

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QUOTE(MNet @ Mar 30 2014, 10:35 PM)
sound fishy.

this company will buy the stock/pc/desktop from their owner company.

why not buy the stock/pc/desktop through tender? more transparent
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again back to your fishy theory without prove, i wish u could go to their office hold banner and shout out loud ... see u can get away with defamation or not ...

they are a ict leasing company, what are u talking about open tender? You can go check with HP of their status ...
looks like i simply wasting my time talk to ppl who are not base on fact.
apathen
post Mar 31 2014, 12:48 AM

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QUOTE(Showtime747 @ Mar 30 2014, 11:43 PM)
Defend the company however you wish, the fact that there are more sceptic than supporter shows that the co has failed in its PR  tongue.gif

Usually loser will shift the blame to someone else instead of looking at what he himself did wrong. Winner, on the other hand, will accept criticism and improve himself
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accuse however you wish. why should i defend the company? i agree their publicity is not effective, failed PR maybe but you say they have zero publicity please back it up with prove ... i bet you never try to find out too, i did a google search and can find this http://www.bfm.my/investment-based-interest-schemes.html

try not to put your word in my mouth and twisting into conspiracy of blaming game ... u try to play hero but neglect to offer reasons on my original question on motive and validity of this thread title claiming 'highly not recommended...' ? i want to know why so. i only interested in finding out the fact and discuss base on it and not hearsay.






apathen
post Mar 31 2014, 10:25 PM

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QUOTE(MNet @ Mar 31 2014, 07:29 PM)
Do you know from who did ictzoneventure buy the pc/desktop then rent it to other ppl?

Do you know who is the owner of the company of ictzone?
http://www.ictzone.com.my/pcrental/ICTZone_aboutUs.htm

which mean that mr A basically have 2 company let say company A and company B.

mr a open a scheme using company B name. Then buy the pc/desktop from company A.
Did you see what is the problem lie here?
Did you see any conflict of interest? Why not open tender? Buy from the cheapest pc/desktop supplier?

user posted image
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ok good at least now u do spend time study and point to the source of your doubt so there is ground to exchange view.

Firstly to understand the background u need to also read page 8 of the prospectus where they are telling the history of management company, one they consider as business partner and another as affiliate, don't think they try to hide anything there.

and for the practice I don't think it's something abnormal unless one can prove that is exorbitant, you can find that practice in all listed company's annual report. Just take one company for example Boustead (just happened i'm reading abt their proposed listing of Boustead plantation so can give u immediate comparison), download part2 at
http://www.bursamalaysia.com/market/listed...cements/1573497
and from page 78-80 (appendix II(B)), under significant related party transactions disclosing many transactions with subsidiary of their immediate holding company ... so are they doing something fishy too?



apathen
post Mar 31 2014, 10:44 PM

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QUOTE(Showtime747 @ Mar 31 2014, 06:11 AM)
If you are so confident about the company , why do you bother about other investor's opinion ? Just put your money in.

Highly not recommended is just an opinion. Nobody point a gun at your head to prevent you from investing. It is always an investor's right to question because it is a free market.

If you are blaming investor' opinion and thought that they have ill motive, you should ask the company to do more to reverse the public' perception. That is a perfectly normal situation in business. You cant kill opinion unless you are in north korea
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Not trying to kill opinion, but Opinion need to be substantiated by fact. Otherwise can't blame other of thinking they have ill motive. That's the least we can ask to maintain a quality discussion.

otherwise anyone can start a thread with hit and run title: 'Showtime747 is highly unreliable ....'. period.
Is that what we like to see this forum full of mudslinging threads?



apathen
post Mar 31 2014, 11:31 PM

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QUOTE(MNet @ Mar 31 2014, 10:46 PM)
u also say subsidiary company.

but here, the transaction is not with subsidiary company.

Company is losing money every year? 200k/year?

user posted image
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they are related companies what is the difference? to get your answer you can engage the company to further explain to u abt their company structure and business model, not for me to disclose.

at least now u ask some pertinent question on their income statement, those were the questions i posted to them before, in summary they have unabsorbed capital allowance so they r tax exempted but accounting wise still need to show there however in real fact no need to pay. So you u should look at profit before tax as actual profit (and those were already after all dividends payout).
To me, for newly incorporated company first two years losses are common, the fact they can start making small profit in first two years i have no complaint, and i expect this year financial report will be better, don't just believe me, just wait for their latest prospectus coming out in two weeks time then we judge again.

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