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> GENNEVA MALAYSIA, some facts.., READ and UNDERSTAND

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TSroycechuah
post Mar 14 2012, 11:48 AM, updated 9y ago

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I am here just for some facts to share:

First of all, Genneva welcome everyone to test out their gold collected as personally i tested so many pieces including recent ones.. I wish i can find one which is fake or “not so real”, coz i thinking that way i can earn more money as Genneva Malaysia will be willingly pay me a big chunk of money to cover the story. But until now i bought so many bars and cant find any fake ones. Even the Assay company director asked no need to spend anymore money testing my gold. Haha.. Because he knows if Genneva Malaysia Give out any Fake gold, tomorrow it will came out in newspaper and no more in operation.

Secondly, to whom that says Genneva Malaysia selling gold at mark up or over priced, then you must be saying dont buy any gold from All the gold smitch shop in town as they are selling at same market price as Genneva. Bare in mind, Genneva Malaysia is also a retailer selling gold at much much much lower opoeration cost then any other ppl out there. One office in each state of Malaysia we can sell 3Billions worth of gold, ask yourself, do other gold smitch shop sells such a n amount of gold?? NO

When you like to compare buying gold from Genneva Malaysia and from bank, then you always have an option to buy from bank as their price is much lower. Buy and wait for appreciation and sell back. Earn your money. But today, Genneva Malaysia sells at retailer’s price, people cannot accept. I dont understand. I am a big buyer in Genneva, i have check my price with gold smitch out there.. especially the gold smitch starts with P**. I dont think i am so stupid buying from Genneva as with the same price,i got 2% in average a month from them. Even one day they decided not to pay Hibah anymore, i am not at the loosing end. I have my Gold Bar.

You see, ppl always asked a stupid question, how Genneva Malaysia Sustain their business by giving out hibah. With all the money collected from customers, do you really think 2% a month is a lot??? Example: if you start up a business at 100k capital, if you only can make 2% a month, which is 2k, do you think you still wanna run the business? Your workers probably will be more happy coz their salary could be 1k or 2k and above. With 3Billions ringgit that they collected, they can roll at anything they want, definately one month can earn more than 2 or 3% profit. Some of my friends dont plan even to invest in Genneva because to them 2 or 3% is just way too low profit that they can make. I just dun understand why ppl out there thinks it is a lot.. haha.. Probably they never see how much money ppl can make with capital in hand.

Thirdly, Genneva SDN BHD use to run as a china man company. They take in cash at any amount and Genneva give out Gold to customer. They will never know the source of money came from. It is so easy to launder money by buying some gold from Genneva as when contracts ends, just sell back and get all your money back and it is clean money. Now company is governed by AMLA, to prevent this thing from happening. Genneva can take only cash up to 10k and rest are all cheque.

Genneva SDN BHD and Genneva Malaysia SDN BHD are totally different company. They have totally different directors and shareholders. DO YOUR SSM check before you start saying a word. Yes, the people behind are the same, but what is the outcome of the court case for money laundering? NOTHING.. they can find nothing that the directors did wrong.. In court, you are guilty unless proven innocent, so no choice but to start a new company by the name of GENNEVA MALAYSIA SDN BHD.

Fourthly, ask yourself, if one day Genneva Malaysia decided to put a clause “Guarantee buy back”, will u think that, OK now it is safe to buy from Genneva malaysia as they will guarantee buy back their gold? I would say stupid ppl only will think that way. Tell you why, “Guarantee buy back” clause doesnt mean anything, they will never also tell you how much they will buy back. CAN THEY BUY BACK AT 100/g? Yes they can. Now do you really think that that clause makes any differences?
NO.....

Genneva Malaysia sells gold at retailer’s market price and customer get the gold they buy. Actually by doing this, no one is owing anyone money. Hibah is discretionary means they will pay to customers so long that they wanna run the business as this is their business model. If one day they decided not to pay anymore Hibah, do you think they will still get business? NO... So simple as one day they still wanna run their business, they will pay Hibah. Even if one day they decided to close shop, there is nothing wrong with that also. As you get your gold and they get the money. Deal ENDS. Whats the problem? Keep the gold and wait for appreciation and sell outside la. Greed is the only thing that ppl have that is ruing their life. Who asked you to mortgage your house or take a personal loan to buy gold from Genneva Malaysia? Just put in some of your savings to buy gold and get the hibah. Not taking personal loan to earn more interest then the one you are paying.

If anyone can find one piece of GOLD from Genneva Malaysia That is fake, i can buy from you with original price and bring back to Genneva Malaysia to claim because i know i can make more money that you do.. just blackmail Genneva say you will go to the press, they will pay you tons to money just to cover your mouth. Because if it really happens, that’s it for the company...

If you ask me will the company close down? Yes it will.. even the directors of Genneva malaysia will tell you that.. but when? 20 years later? 5 months later? Every company can close down come on.. Dont be foolish. But eventually you still holds the piece of Gold wafer certified and tested by ASSAY company to be 999.9 GOLD, you can always liquid it with immediate cash, with a small percentage taken away. BUT who ask you to liquid it immediately? Wait for gold price to go up and sell.. 10 years ago, per gram is only RM30 and now in 2012 is RM200/g, what do you think 5 years down the road will be.....

lunchtime
post Mar 14 2012, 12:30 PM

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QUOTE(roycechuah @ Mar 14 2012, 11:48 AM)
I am here just for some facts to share:

First of all, Genneva welcome everyone to test out their gold collected as personally i tested so many pieces including recent ones.. I wish i can find one which is fake or “not so real”, coz i thinking that way i can earn more money as Genneva Malaysia will be willingly pay me a big chunk of money to cover the story. But until now i bought so many bars and cant find any fake ones. Even the Assay company director asked no need to spend anymore money testing my gold. Haha.. Because he knows if Genneva Malaysia Give out any Fake gold, tomorrow it will came out in newspaper and no more in operation.

Secondly, to whom that says Genneva Malaysia selling gold at mark up or over priced, then you must be saying dont buy any gold from All the gold smitch shop in town as they are selling at same market price as Genneva. Bare in mind, Genneva Malaysia is also a retailer selling gold at much much much lower opoeration cost then any other ppl out there. One office in each state of Malaysia we can sell 3Billions worth of gold, ask yourself, do other gold smitch shop sells such a n amount of gold?? NO

When you like to compare buying gold from Genneva Malaysia and from bank, then you always have an option to buy from bank as their price is much lower. Buy and wait for appreciation and sell back. Earn your money. But today, Genneva Malaysia sells at retailer’s price, people cannot accept. I dont understand. I am a big buyer in Genneva, i have check my price with gold smitch out there.. especially the gold smitch starts with P**. I dont think i am so stupid buying from Genneva as with the same price,i got 2% in average a month from them. Even one day they decided not to pay Hibah anymore, i am not at the loosing end. I have my Gold Bar.

You see, ppl always asked a stupid question, how Genneva Malaysia Sustain their business by giving out hibah. With all the money collected from customers, do you really think 2% a month is a lot??? Example: if you start up a business at 100k capital, if you only can make 2% a month, which is 2k, do you think you still wanna run the business? Your workers probably will be more happy coz their salary could be 1k or 2k and above. With 3Billions ringgit that they collected, they can roll at anything they want, definately one month can earn more than 2 or 3% profit. Some of my friends dont plan even to invest in Genneva because to them 2 or 3% is just way too low profit that they can make. I just dun understand why ppl out there thinks it is a lot.. haha.. Probably they never see how much money ppl can make with capital in hand.

Thirdly, Genneva SDN BHD use to run as a china man company. They take in cash at any amount and Genneva give out Gold to customer. They will never know the source of money came from. It is so easy to launder money by buying some gold from Genneva as when contracts ends, just sell back and get all your money back and it is clean money. Now company is governed by AMLA, to prevent this thing from happening. Genneva can take only cash up to 10k and rest are all cheque.

Genneva SDN BHD and Genneva Malaysia SDN BHD are totally different company. They have totally different directors and shareholders. DO YOUR SSM check before you start saying a word. Yes, the people behind are the same, but what is the outcome of the court case for money laundering? NOTHING.. they can find nothing that the directors did wrong.. In court, you are guilty unless proven innocent, so no choice but to start a new company by the name of GENNEVA MALAYSIA SDN BHD.

Fourthly, ask yourself, if one day Genneva Malaysia decided to put a clause “Guarantee buy back”, will u think that, OK now it is safe to buy from Genneva malaysia as they will guarantee buy back their gold? I would say stupid ppl only will think that way. Tell you why, “Guarantee buy back” clause doesnt mean anything, they will never also tell you how much they will buy back. CAN THEY BUY BACK AT 100/g? Yes they can. Now do you really think that that clause makes any differences?
NO.....

Genneva Malaysia sells gold at retailer’s market price and customer get the gold they buy. Actually by doing this, no one is owing anyone money. Hibah is discretionary means they will pay to customers so long that they wanna run the business as this is their business model. If one day they decided not to pay anymore Hibah, do you think they will still get business? NO... So simple as one day they still wanna run their business, they will pay Hibah. Even if one day they decided to close shop, there is nothing wrong with that also. As you get your gold and they get the money. Deal ENDS. Whats the problem? Keep the gold and wait for appreciation and sell outside la. Greed is the only thing that ppl have that is ruing their life. Who asked you to mortgage your house or take a personal loan to buy gold from Genneva Malaysia? Just put in some of your savings to buy gold and get the hibah. Not taking personal loan to earn more interest then the one you are paying.

If anyone can find one piece of GOLD from Genneva Malaysia That is fake, i can buy from you with original price and bring back to Genneva Malaysia to claim because i know i can make more money that you do.. just blackmail Genneva say you will go to the press, they will pay you tons to money just to cover your mouth. Because if it really happens, that’s it for the company...

If you ask me will the company close down? Yes it will.. even the directors of Genneva malaysia will tell you that.. but when? 20 years later? 5 months later? Every company can close down come on.. Dont be foolish. But eventually you still holds the piece of Gold wafer certified and tested by ASSAY company to be 999.9 GOLD, you can always liquid it with immediate cash,  with a small percentage taken away. BUT who ask you to liquid it immediately? Wait for gold price to go up and sell.. 10 years ago, per gram is only RM30 and now in 2012 is RM200/g, what do you think 5 years down the road will be.....
*
screw you, GENNEVA STILL OWE MY WIFE MONEY AFTER BNM RAIDED THEM. PTUIIII!!!!

This post has been edited by lunchtime: Mar 14 2012, 12:44 PM
Maplin
post Mar 14 2012, 12:36 PM

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QUOTE(roycechuah @ Mar 14 2012, 11:48 AM)
I am here just for some facts to share:

First of all, Genneva welcome everyone to test out their gold collected as personally i tested so many pieces including recent ones.. I wish i can find one which is fake or “not so real”, coz i thinking that way i can earn more money as Genneva Malaysia will be willingly pay me a big chunk of money to cover the story. But until now i bought so many bars and cant find any fake ones. Even the Assay company director asked no need to spend anymore money testing my gold. Haha.. Because he knows if Genneva Malaysia Give out any Fake gold, tomorrow it will came out in newspaper and no more in operation.

Secondly, to whom that says Genneva Malaysia selling gold at mark up or over priced, then you must be saying dont buy any gold from All the gold smitch shop in town as they are selling at same market price as Genneva. Bare in mind, Genneva Malaysia is also a retailer selling gold at much much much lower opoeration cost then any other ppl out there. One office in each state of Malaysia we can sell 3Billions worth of gold, ask yourself, do other gold smitch shop sells such a n amount of gold?? NO

When you like to compare buying gold from Genneva Malaysia and from bank, then you always have an option to buy from bank as their price is much lower. Buy and wait for appreciation and sell back. Earn your money. But today, Genneva Malaysia sells at retailer’s price, people cannot accept. I dont understand. I am a big buyer in Genneva, i have check my price with gold smitch out there.. especially the gold smitch starts with P**. I dont think i am so stupid buying from Genneva as with the same price,i got 2% in average a month from them. Even one day they decided not to pay Hibah anymore, i am not at the loosing end. I have my Gold Bar.

You see, ppl always asked a stupid question, how Genneva Malaysia Sustain their business by giving out hibah. With all the money collected from customers, do you really think 2% a month is a lot??? Example: if you start up a business at 100k capital, if you only can make 2% a month, which is 2k, do you think you still wanna run the business? Your workers probably will be more happy coz their salary could be 1k or 2k and above. With 3Billions ringgit that they collected, they can roll at anything they want, definately one month can earn more than 2 or 3% profit. Some of my friends dont plan even to invest in Genneva because to them 2 or 3% is just way too low profit that they can make. I just dun understand why ppl out there thinks it is a lot.. haha.. Probably they never see how much money ppl can make with capital in hand.

Thirdly, Genneva SDN BHD use to run as a china man company. They take in cash at any amount and Genneva give out Gold to customer. They will never know the source of money came from. It is so easy to launder money by buying some gold from Genneva as when contracts ends, just sell back and get all your money back and it is clean money. Now company is governed by AMLA, to prevent this thing from happening. Genneva can take only cash up to 10k and rest are all cheque.

Genneva SDN BHD and Genneva Malaysia SDN BHD are totally different company. They have totally different directors and shareholders. DO YOUR SSM check before you start saying a word. Yes, the people behind are the same, but what is the outcome of the court case for money laundering? NOTHING.. they can find nothing that the directors did wrong.. In court, you are guilty unless proven innocent, so no choice but to start a new company by the name of GENNEVA MALAYSIA SDN BHD.

Fourthly, ask yourself, if one day Genneva Malaysia decided to put a clause “Guarantee buy back”, will u think that, OK now it is safe to buy from Genneva malaysia as they will guarantee buy back their gold? I would say stupid ppl only will think that way. Tell you why, “Guarantee buy back” clause doesnt mean anything, they will never also tell you how much they will buy back. CAN THEY BUY BACK AT 100/g? Yes they can. Now do you really think that that clause makes any differences?
NO.....

Genneva Malaysia sells gold at retailer’s market price and customer get the gold they buy. Actually by doing this, no one is owing anyone money. Hibah is discretionary means they will pay to customers so long that they wanna run the business as this is their business model. If one day they decided not to pay anymore Hibah, do you think they will still get business? NO... So simple as one day they still wanna run their business, they will pay Hibah. Even if one day they decided to close shop, there is nothing wrong with that also. As you get your gold and they get the money. Deal ENDS. Whats the problem? Keep the gold and wait for appreciation and sell outside la. Greed is the only thing that ppl have that is ruing their life. Who asked you to mortgage your house or take a personal loan to buy gold from Genneva Malaysia? Just put in some of your savings to buy gold and get the hibah. Not taking personal loan to earn more interest then the one you are paying.

If anyone can find one piece of GOLD from Genneva Malaysia That is fake, i can buy from you with original price and bring back to Genneva Malaysia to claim because i know i can make more money that you do.. just blackmail Genneva say you will go to the press, they will pay you tons to money just to cover your mouth. Because if it really happens, that’s it for the company...

If you ask me will the company close down? Yes it will.. even the directors of Genneva malaysia will tell you that.. but when? 20 years later? 5 months later? Every company can close down come on.. Dont be foolish. But eventually you still holds the piece of Gold wafer certified and tested by ASSAY company to be 999.9 GOLD, you can always liquid it with immediate cash,  with a small percentage taken away. BUT who ask you to liquid it immediately? Wait for gold price to go up and sell.. 10 years ago, per gram is only RM30 and now in 2012 is RM200/g, what do you think 5 years down the road will be.....
*
Nice write up bro. But you have missed something here.
Genneva's business is very simple. You buy gold at current market rate. Keep the gold until your "contract" expire. During the contarct period, they will "give" you 2% from the total money you have paid for the gold. After the contract period, you can either return the gold and get back your invested money or "renew your contract" whereby the company will calculate the amount of gold the company have to give based on the current rate (most of the time, they will reduce the gold amount because the gold price will always go higher).
How about the TAT (Turn Around Time). As you know, you won't get your gold immediately after you pay for it. You have to wait at least 2-3 day to get your gold. So, if something happens during this TAT time, who going to pay us? Have to lick our finger, stuck it in our arse and wait for years for them to pay us? If something happen during this TAT, the company will tell you that they cant do anything because its instruction from BNM not to pay you until investigation over (eventhough the money freezed during the raiding by BNM is far less then money owed to investors). Im not sure, but I think this is part of their plan (when they could not sustain the business by paying the investors 2% every month) to inform Bank Negara Malaysia (BNM) to raid them so that they can give excuse to the investor that they can pay them the intrest anymone. On top of that they will get "bonus" from the gold they hold during the TAT. Mind you, based on the post above, the investment is almost 3 Billion, so do your maths people! What will be the daily investment rated? 100M? so for 3 days it is almost 300M. Do you think they will keep 300M in their account if BNM raid them? Most of it will be in gold form which BNM will never touch!!!!

Don't say a word if you are not the investor who lost your money and gold during the old Genneva Sdn bhd raided by BNM. You know why, because they refused to give me neither my investment nor the gold I purchased back until today!!!!!!! SO who is to be blamed?

So ppl beware before you invest in anything!!!! The only thing I can tell you is that this company is a SPAM!!!! The business model of this company is so good that it can convinced even the great G.Soros, Warren Buffet and etc. But they have one thing in mind, cheat you if necessary. Why I said "if necessary" is becasue if they have problems, they will never care for the investors. If you dont believe, ask all the old Genneva investor if they have received any sort of information or letter or anything regarding the hard earn money they have invested in this ponzi company!! THEY DONT CARE.

So how?
lowya
post Mar 14 2012, 12:37 PM

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buy at +25% extra premium
sell to goldsmith second gold bar at after market value -25% without workmanship (if company kaput)
storage box of gold bar +Rm50/mth for security safe keeping.
hence, net loss -50%

vs

monthly 2% gain x 12 mths = +24%

hence...

Net risk = +24% - 50% = -26% after a year (Assuming Gold price didn't change)
xander83
post Mar 14 2012, 02:33 PM

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From: Autobiography!!!
Even the name itself sounds conned shit doh.gif doh.gif doh.gif
kh8188
post Mar 14 2012, 03:11 PM

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1. If the model is so great, why can't goldsmith like P** promises the same?

2. If the return is so great, EPF return of 6% is laughable. Why didn't EPF just put money into it's model?

3. If you can't rent, can't grow or can't utilize the gold, where does the 2% profits generated?

4. If they profits from buying alot of gold at low prices, why can't they deliver the stock immediately?
prophetjul
post Mar 14 2012, 04:14 PM

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QUOTE(roycechuah @ Mar 14 2012, 11:48 AM)
I am here just for some facts to share:

First of all, Genneva welcome everyone to test out their gold collected as personally i tested so many pieces including recent ones.. I wish i can find one which is fake or “not so real”, coz i thinking that way i can earn more money as Genneva Malaysia will be willingly pay me a big chunk of money to cover the story. But until now i bought so many bars and cant find any fake ones. Even the Assay company director asked no need to spend anymore money testing my gold. Haha.. Because he knows if Genneva Malaysia Give out any Fake gold, tomorrow it will came out in newspaper and no more in operation.

Never thought that Genneva was selling Fakes...

Secondly, to whom that says Genneva Malaysia selling gold at mark up or over priced, then you must be saying dont buy any gold from All the gold smitch shop in town as they are selling at same market price as Genneva. Bare in mind, Genneva Malaysia is also a retailer selling gold at much much much lower opoeration cost then any other ppl out there. One office in each state of Malaysia we can sell 3Billions worth of gold, ask yourself, do other gold smitch shop sells such a n amount of gold?? NO

You are selling Gold BARS using jewellery prices ie 25% markup......YES i tell people
NEVER to buy bars at jewelers cos you would be SUCKERS to do that.
Same with genneva.....only SUCKERS buy gold bars at 25% above spot prices
Therefore buying from Genneva is only for SUCKERS


When you like to compare buying gold from Genneva Malaysia and from bank, then you always have an option to buy from bank as their price is much lower. Buy and wait for appreciation and sell back. Earn your money. But today, Genneva Malaysia sells at retailer’s price, people cannot accept. I dont understand. I am a big buyer in Genneva, i have check my price with gold smitch out there.. especially the gold smitch starts with P**. I dont think i am so stupid buying from Genneva as with the same price,i got 2% in average a month from them. Even one day they decided not to pay Hibah anymore, i am not at the loosing end. I have my Gold Bar.

i think you are stupid to pay jewellers price. A gold bar is NOT jewellery.
If you dont understand read the above again


You see, ppl always asked a stupid question, how Genneva Malaysia Sustain their business by giving out hibah. With all the money collected from customers, do you really think 2% a month is a lot??? Example: if you start up a business at 100k capital, if you only can make 2% a month, which is 2k, do you think you still wanna run the business? Your workers probably will be more happy coz their salary could be 1k or 2k and above. With 3Billions ringgit that they collected, they can roll at anything they want, definately one month can earn more than 2 or 3% profit. Some of my friends dont plan even to invest in Genneva because to them 2 or 3% is just way too low profit that they can make. I just dun understand why ppl out there thinks it is a lot.. haha.. Probably they never see how much money ppl can make with capital in hand.

Only stupid people think so. Genneva collect the money UPFRONT. They dont need much capital.
They use other people's money to roll. The more the merrier.
So if its not your money, 2% per month returns is OBSCENE


Thirdly, Genneva SDN BHD use to run as a china man company. They take in cash at any amount and Genneva give out Gold to customer. They will never know the source of money came from. It is so easy to launder money by buying some gold from Genneva as when contracts ends, just sell back and get all your money back and it is clean money. Now company is governed by AMLA, to prevent this thing from happening. Genneva can take only cash up to 10k and rest are all cheque.

Genneva SDN BHD and Genneva Malaysia SDN BHD are totally different company. They have totally different directors and shareholders. DO YOUR SSM check before you start saying a word. Yes, the people behind are the same, but what is the outcome of the court case for money laundering? NOTHING.. they can find nothing that the directors did wrong.. In court, you are guilty unless proven innocent, so no choice but to start a new company by the name of GENNEVA MALAYSIA SDN BHD.

Fourthly, ask yourself, if one day Genneva Malaysia decided to put a clause “Guarantee buy back”, will u think that, OK now it is safe to buy from Genneva malaysia as they will guarantee buy back their gold? I would say stupid ppl only will think that way. Tell you why, “Guarantee buy back” clause doesnt mean anything, they will never also tell you how much they will buy back. CAN THEY BUY BACK AT 100/g? Yes they can. Now do you really think that that clause makes any differences?
NO.....

Exactly. Genneva do Not care too much about the buyback since Gold is HOT, they arent
expecting customers to sell back . Afterall the promo is LONGTERM. Why sellback?


Genneva Malaysia sells gold at retailer’s market price and customer get the gold they buy. Actually by doing this, no one is owing anyone money. Hibah is discretionary means they will pay to customers so long that they wanna run the business as this is their business model. If one day they decided not to pay anymore Hibah, do you think they will still get business? NO... So simple as one day they still wanna run their business, they will pay Hibah. Even if one day they decided to close shop, there is nothing wrong with that also. As you get your gold and they get the money. Deal ENDS. Whats the problem? Keep the gold and wait for appreciation and sell outside la. Greed is the only thing that ppl have that is ruing their life. Who asked you to mortgage your house or take a personal loan to buy gold from Genneva Malaysia? Just put in some of your savings to buy gold and get the hibah. Not taking personal loan to earn more interest then the one you are paying.

The problem?  Genneva just suckered customers with higher premiums over spot....only
sucker customers dont see this. They are only interested in the Hibah


If anyone can find one piece of GOLD from Genneva Malaysia That is fake, i can buy from you with original price and bring back to Genneva Malaysia to claim because i know i can make more money that you do.. just blackmail Genneva say you will go to the press, they will pay you tons to money just to cover your mouth. Because if it really happens, that’s it for the company...

If you ask me will the company close down? Yes it will.. even the directors of Genneva malaysia will tell you that.. but when? 20 years later? 5 months later? Every company can close down come on.. Dont be foolish. But eventually you still holds the piece of Gold wafer certified and tested by ASSAY company to be 999.9 GOLD, you can always liquid it with immediate cash,  with a small percentage taken away. BUT who ask you to liquid it immediately? Wait for gold price to go up and sell.. 10 years ago, per gram is only RM30 and now in 2012 is RM200/g, what do you think 5 years down the road will be.....
*


When the company closes down, gold prices will probably have dived.
At that time, those customers holding the bars will have limited outlets to sell.
One outlet is the jewellers that you mentioned.
Guess what? They will have to take another haircut of maybe 30% to be able to sell....


There's a sucker born every minute - P T Barnum
mariobro
post Mar 14 2012, 08:41 PM

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Epic Thread/Info.
doraemonkiller
post Mar 14 2012, 11:50 PM

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QUOTE(roycechuah @ Mar 14 2012, 11:48 AM)
I am here just for some facts to share:

First of all, Genneva welcome everyone to test out their gold collected as personally i tested so many pieces including recent ones.. I wish i can find one which is fake or “not so real”, coz i thinking that way i can earn more money as Genneva Malaysia will be willingly pay me a big chunk of money to cover the story. But until now i bought so many bars and cant find any fake ones. Even the Assay company director asked no need to spend anymore money testing my gold. Haha.. Because he knows if Genneva Malaysia Give out any Fake gold, tomorrow it will came out in newspaper and no more in operation.
You should ask you sales person to believe that your gold is genuine as one of your sales person went to Poh Kong for purity test. Ofcoz without cutting the gold bar, it is useless to test the external part.

Secondly, to whom that says Genneva Malaysia selling gold at mark up or over priced, then you must be saying dont buy any gold from All the gold smitch shop in town as they are selling at same market price as Genneva. Bare in mind, Genneva Malaysia is also a retailer selling gold at much much much lower opoeration cost then any other ppl out there. One office in each state of Malaysia we can sell 3Billions worth of gold, ask yourself, do other gold smitch shop sells such a n amount of gold?? NO
The main objective of goldsmith shop is to sell Jewellery (finished goods) and most listed company like PK and Tomei do join goldsmith association so the price is controlled. You can't expect them to use the price which is same like the bank as their main objective is not investment. Thats why their buying gold bar back price also higher than bank, Free instalment for 1 year, bear the gold price floating risk.


When you like to compare buying gold from Genneva Malaysia and from bank, then you always have an option to buy from bank as their price is much lower. Buy and wait for appreciation and sell back. Earn your money. But today, Genneva Malaysia sells at retailer’s price, people cannot accept. I dont understand. I am a big buyer in Genneva, i have check my price with gold smitch out there.. especially the gold smitch starts with P**. I dont think i am so stupid buying from Genneva as with the same price,i got 2% in average a month from them. Even one day they decided not to pay Hibah anymore, i am not at the loosing end. I have my Gold Bar.

You see, ppl always asked a stupid question, how Genneva Malaysia Sustain their business by giving out hibah. With all the money collected from customers, do you really think 2% a month is a lot??? Example: if you start up a business at 100k capital, if you only can make 2% a month, which is 2k, do you think you still wanna run the business? Your workers probably will be more happy coz their salary could be 1k or 2k and above. With 3Billions ringgit that they collected, they can roll at anything they want, definately one month can earn more than 2 or 3% profit. Some of my friends dont plan even to invest in Genneva because to them 2 or 3% is just way too low profit that they can make. I just dun understand why ppl out there thinks it is a lot.. haha.. Probably they never see how much money ppl can make with capital in hand.

Thirdly, Genneva SDN BHD use to run as a china man company. They take in cash at any amount and Genneva give out Gold to customer. They will never know the source of money came from. It is so easy to launder money by buying some gold from Genneva as when contracts ends, just sell back and get all your money back and it is clean money. Now company is governed by AMLA, to prevent this thing from happening. Genneva can take only cash up to 10k and rest are all cheque.

Genneva SDN BHD and Genneva Malaysia SDN BHD are totally different company. They have totally different directors and shareholders. DO YOUR SSM check before you start saying a word. Yes, the people behind are the same, but what is the outcome of the court case for money laundering? NOTHING.. they can find nothing that the directors did wrong.. In court, you are guilty unless proven innocent, so no choice but to start a new company by the name of GENNEVA MALAYSIA SDN BHD.

Fourthly, ask yourself, if one day Genneva Malaysia decided to put a clause “Guarantee buy back”, will u think that, OK now it is safe to buy from Genneva malaysia as they will guarantee buy back their gold? I would say stupid ppl only will think that way. Tell you why, “Guarantee buy back” clause doesnt mean anything, they will never also tell you how much they will buy back. CAN THEY BUY BACK AT 100/g? Yes they can. Now do you really think that that clause makes any differences?
NO.....

Genneva Malaysia sells gold at retailer’s market price and customer get the gold they buy. Actually by doing this, no one is owing anyone money. Hibah is discretionary means they will pay to customers so long that they wanna run the business as this is their business model. If one day they decided not to pay anymore Hibah, do you think they will still get business? NO... So simple as one day they still wanna run their business, they will pay Hibah. Even if one day they decided to close shop, there is nothing wrong with that also. As you get your gold and they get the money. Deal ENDS. Whats the problem? Keep the gold and wait for appreciation and sell outside la. Greed is the only thing that ppl have that is ruing their life. Who asked you to mortgage your house or take a personal loan to buy gold from Genneva Malaysia? Just put in some of your savings to buy gold and get the hibah. Not taking personal loan to earn more interest then the one you are paying.

If anyone can find one piece of GOLD from Genneva Malaysia That is fake, i can buy from you with original price and bring back to Genneva Malaysia to claim because i know i can make more money that you do.. just blackmail Genneva say you will go to the press, they will pay you tons to money just to cover your mouth. Because if it really happens, that’s it for the company...

If you ask me will the company close down? Yes it will.. even the directors of Genneva malaysia will tell you that.. but when? 20 years later? 5 months later? Every company can close down come on.. Dont be foolish. But eventually you still holds the piece of Gold wafer certified and tested by ASSAY company to be 999.9 GOLD, you can always liquid it with immediate cash,  with a small percentage taken away. BUT who ask you to liquid it immediately? Wait for gold price to go up and sell.. 10 years ago, per gram is only RM30 and now in 2012 is RM200/g, what do you think 5 years down the road will be.....
Actually the Genneva gold price higher than every goldsmith shop. Example, Bank offer RM160, Genneva offer RM208, Goldsmith association (Poh Kong/ Tomei) offer RM200. So last year gold price increase around 28%. Genneva willing to buy bank their gold bar at original price since the cost almost the same with the original price 1 year ago. As I know recently Genneva announce that they will not guarantee buy back their gold bar. Why? I guess because the gold price has stop increased but maintain the same for few months already. If the gold price maintain the same for 1 year, they continue to pay interest, buy back their gold bar in which the selling price and buy back price is still almost same, where do they get their money from? At the end they will lack of cash flow and wind up the company. RM5 bil revenue? I don't think this is true, This is like more than last 10 years of Poh Kong revenue. I know Genneva love to claim that one of the directors is PK ex-founder. At the end, PK received a lot of complain regarding this. Genneva also say that goldsmith shop will buy back their gold bar with 25% which is very untrue. At least 40% deduction.
If one day no more interest and buy back as company wind up, last comers will straight away lose 40% of what they paid to.



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This post has been edited by doraemonkiller: Mar 14 2012, 11:53 PM
ricstc
post Mar 14 2012, 11:54 PM

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QUOTE(Maplin @ Mar 14 2012, 12:36 PM)
Nice write up bro. But you have missed something here.
Genneva's business is very simple. You buy gold at current market rate. Keep the gold until your "contract" expire. During the contarct period, they will "give" you 2% from the total money you have paid for the gold. After the contract period, you can either return the gold and get back your  invested money or "renew your contract" whereby the company will calculate the amount of gold the company have to give based on the current rate (most of the time, they will reduce the gold amount because the gold price will always go higher).
How about the TAT (Turn Around Time). As you know, you won't get your gold immediately after you pay for it. You have to wait at least 2-3 day to get your gold. So, if something happens during this TAT time, who going to pay us? Have to lick our finger, stuck it in our arse and wait for years for them to pay us? If something happen during this TAT, the company will tell you that they cant do anything because its instruction from BNM not to pay you until investigation over (eventhough the money freezed during the raiding by BNM is far less then money owed to investors). Im not sure, but I think this is part of their plan (when they could not sustain the business by paying the investors 2% every month) to inform Bank Negara Malaysia (BNM) to raid them so that they can give excuse to the investor that they can pay them the intrest anymone. On top of that they will get "bonus" from the gold they hold during the TAT. Mind you, based on the post above, the investment is almost 3 Billion, so do your maths people! What will be the daily investment rated? 100M? so for 3 days it is almost 300M. Do you think they will keep 300M in their account if BNM raid them? Most of it will be in gold form which BNM will never touch!!!!

Don't say a word if you are not the investor who lost your money and gold during the old Genneva Sdn bhd raided by  BNM. You know why, because they refused to give me neither my investment nor the gold I purchased back until today!!!!!!! SO who is to be blamed?

So ppl beware before you invest in anything!!!! The only thing I can tell you is that this company is a SPAM!!!! The business model of this company is so good that it can convinced even the great G.Soros, Warren Buffet and etc. But they have one thing in mind, cheat you if necessary. Why I said "if necessary" is becasue if they have problems, they will never care for the investors. If you dont believe, ask all the old Genneva investor if they have received any sort of information or letter or anything regarding the hard earn money they have invested in this ponzi company!! THEY DONT CARE.

So how?
*
3 words that everyone be forewarned. It's . a . SCAM.

This post has been edited by ricstc: Mar 14 2012, 11:54 PM
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edyek
post Mar 15 2012, 07:12 AM

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@roycechuah,

You are brain washed and a scuker. You know nuts, therefore you are telling nuts here. Bravo to you that you have buy so many gold bars from them.

Because of you, there are many company like this springing like mushroom every year.
skng03
post Mar 15 2012, 12:12 PM

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QUOTE(edyek @ Mar 15 2012, 07:12 AM)
@roycechuah,

You are brain washed and a scuker. You know nuts, therefore you are telling nuts here. Bravo to you that you have buy so many gold bars from them.

Because of you, there are many company like this springing like mushroom every year.
*
all direct sell/ pyramid co. brain washing their agent & client nod.gif nod.gif

i bot 1kg from them since 1 year ago, and received their "hibah" on time. i'm well aware of the risk but just to entertain/ show support a close relative lar whistling.gif whistling.gif

my advice to all, don't borrow to buy, only buy if u have extra money, don't use all your life saving to buy & understand the risk involve sweat.gif sweat.gif
WintersuN
post Mar 15 2012, 12:44 PM

Look at all my stars!!
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QUOTE(lunchtime @ Mar 14 2012, 12:30 PM)
screw you, GENNEVA STILL OWE MY WIFE MONEY AFTER BNM RAIDED THEM.  PTUIIII!!!!
*
bro,

u shud meet him up and claim the money not scolding in forum doh.gif
wan7075
post Mar 15 2012, 01:51 PM

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QUOTE(lunchtime @ Mar 14 2012, 12:30 PM)
screw you, GENNEVA STILL OWE MY WIFE MONEY AFTER BNM RAIDED THEM.  PTUIIII!!!!
*
never thought that so many people have been trapped by them.
do you mind to share your story to us?

BTW, what is the different between the Genneva SDN BHD and Genneva Malaysia SDN BHD ?
eddylee
post Mar 19 2012, 10:56 PM

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http://www.bnm.gov.my/microsites/fraudalert/0301_status.htm

please check this web geneva malaysia sdn bhd still under investigation by bank negara malaysia at 2012. those bosses still attend to the court till today 2012 just don't know when the bnm will freeze the asset. and all member can't get any return.
kh8188
post Mar 20 2012, 12:24 PM

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QUOTE(eddylee @ Mar 19 2012, 10:56 PM)
http://www.bnm.gov.my/microsites/fraudalert/0301_status.htm

please check this web geneva malaysia sdn bhd still under investigation by bank negara malaysia at 2012. those bosses still attend to the court till today 2012 just don't know when the bnm will freeze the asset. and all member can't get any return.
*
I pity those who were cought in the mess. Geneva is a Sdn Bhd and chances of getting the money back are next to none.

It is always the case when anybody who posted about the greatness of Geneva, they dissappear. I wonder where is our mr.roycechuah now?
wongmunkeong
post Mar 20 2012, 12:43 PM

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QUOTE(kh8188 @ Mar 20 2012, 12:24 PM)
I pity those who were cought in the mess. Geneva is a Sdn Bhd and chances of getting the money back are next to none.

It is always the case when anybody who posted about the greatness of Geneva, they dissappear. I wonder where is our mr.roycechuah now?
*
Normal lar - like previous eagle tongue.gif, when asked to verify calculations i simulated in Excel from his own website, went into "run silent" mode like a submarine.

Biz model - doesnt make sense
Cost - doesnt make sense
BNM - still after them

Triple whammy - still can "sell"?
Yes! Unfortunately - to those who are less clued in.
My mum was nearly a victim - hehe, luckily she knows to poke me about it first.
Her neighbor is "selling" such "gold scheme". Well, payback's going to be a b**** i think.

This post has been edited by wongmunkeong: Mar 20 2012, 12:43 PM
ccslink
post Mar 20 2012, 12:57 PM

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Perhaps BNM will return the confiscated goods & monies once the investigation is over?
Bobby C
post Mar 20 2012, 01:11 PM

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Received the following email and attachment some time ago. Think just do the community a small favour by copy and paste. First time heard abt this company. Before that some friend mentioned some 'good' company selling gold in Old Klang wor. In the heart think think not again, sound very like typical BS marketing co. Rather buy Maple leaf or Kangaroo gold. Even Kijal standard wonder any devaluation or acceptable world wide. blush.gif


Hi

Kindly find attached herewith, an advertisement by Genneva Malaysia Sdn Bhd in Nanyang Chinese Paper dated 27th Feb 2012 for your attention.

Do take note of the followings should you still want to 'invest' with this company.


1. Company not licensed to take deposits under the Banking and Financial Institution Act 1989

2. Just a company to conduct scheduled business in Factoring and Leasing. A company dealing in buying and selling of gold products.

[cool.gif3. No buy back guarantee to repurchase of the gold products sold to its purchases


4. You bear the risks arising from or connected with such purchase.


Rgd

This post has been edited by Bobby C: Mar 20 2012, 01:16 PM


Attached File(s)
Attached File  2012_02_27_Genneva_M_sia_Sdn_Bhd.pdf ( 118.99k ) Number of downloads: 758
kh8188
post Mar 20 2012, 04:29 PM

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Joined: Feb 2012
From: Kuala Lumpur


QUOTE(Bobby C @ Mar 20 2012, 01:11 PM)
Received the following email and attachment some time ago. Think just do the community a small favour by copy and paste. First time heard abt this company. Before that some friend mentioned some 'good' company selling gold in Old Klang wor. In the heart think think not again, sound very like typical BS marketing co. Rather buy Maple leaf or Kangaroo gold. Even Kijal standard wonder any devaluation or acceptable world wide.  blush.gif
Hi

Kindly find attached herewith, an advertisement by Genneva Malaysia Sdn Bhd in Nanyang Chinese Paper dated 27th Feb 2012 for your attention.

Do take note of the followings should you still want to 'invest' with this company.


1. Company not licensed to take deposits under the Banking and Financial Institution Act 1989

2. Just a company to conduct scheduled business in Factoring and Leasing.  A company dealing in buying and selling of gold products.

[cool.gif3. No buy back guarantee to repurchase of the gold products sold to its purchases


4. You bear the risks arising from or connected with such purchase.


Rgd
*
Item 3 is really a slap in the face. Firstly, in Malaysia, gold spread at any goldsmith is 25%. Add that to the premium the investors bought, that makes a double blows. For those who managed to keep the gold, the best way now is to keep it. Otherwise, smelt it and make a jewelry out from it. The next time people asked about your nice braclet, you can share the sorrow story behind its glory.

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