From http://www.businessdictionary.com

Investment co = Public corporation organized to invest in large blocks of securities of diverse firms, and to obtain its capital from issues of shares or units. Investment companies give a small investor the advantage of a full time professional investment management, and a very much wider spread of risk that it would have been otherwise possible. They are divided into three major types: (1) Open-end funds (also called mutual funds) which have a floating number of issued shares, and sell or redeem their shares at their current net asset value (NAV); (2) Closed-end funds (also called investment trusts) which can sell only a fixed number of shares which are traded on stock exchanges, usually at a discount to their net asset value; and (3) Unit investment trusts (also called unit trusts) which sell their redeemable securities (called units) which represent interests in the securities held by the trust in its investment portfolio. A unit holder is not a shareholder in a unit trust.

Trading co = Firm that connects buyers and sellers within the same or different countries but does not get involved in the owning or storing of merchandise. A trading company is compensated by the seller usually with a sales commission.

Which is closer to Genneva? My personal opinion is more towards the latter.

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Added on August 11, 2012, 1:44 ampokemon? doeramon? :-)

I saw your deleted post. You were asking why pokemon/doeramon so defensive as the questions are general questions and who cares what patlu thinks. I think I deserved an answer from doraemon. Went back to 28 pages of this topic. Couldn't find a straight answer as this topic is filled with personal opinions (even though derived from info/facts) from both sides which I believe attempts to influence others to support them. Support I don't need, facts, I crave.

This post has been edited by sengih: Aug 11 2012, 01:44 AM

Posts are deleted for a reason, but since you revived them, I will have my say.

In an investment/trading situation, the only facts or answers I need are from the company concerned.

I am happy to ignore the detractors, if the company can provide convincing reasons why I should invest/trade with them.

Unfortunately those "for" the company can only provide nonsense answers like its "their secret" when asked how they make money. Such stupid answers will not make me their customer.

Either way, I don't care what patlu thinks.

This post has been edited by howszat: Aug 11 2012, 02:09 AM

100% agreed. Both "for" and "against" need to be objective too. Unfortunately, most forummers here became personal when being asked "difficult" questions. If dont know the answer, just admit rather than giving loose opinions.

The only lousy answers I see are from the "for" Genneva camp. In fact, they downright don't make sense.

More than enough to convince me to stay far far away. That's all from me.

I dont agree with you. My observation, both camps have their lousy moments. I saw too many assumptions and innuendos. Interpreting and twisting facts as they saw fit.

My last questions to doraemon were redirected for whatever reason that he has; therefore looks like I'm not going to find my questions answered here. :-(

This post has been edited by sengih: Aug 11 2012, 02:50 AM

A company saying it's their "secret" is an incredibly lousy answer. No matter how you try to put blame on anyone else. I don't care about the "against" camp as I'm not going to invest/trade with them. I also don't care what you agree with or not.

If the "for" camp can only give lousy answers, they've have lost. That's all. Bye, again, for real.

:-) from what i gather, you have low risk appetite. Unit trust might be suitable for you.

The problem with forum like this is when people try to impose their belief to others. If somebody does not agree with your belief, the pax will be attacked like crazy. After going thru 29 odd pages, I noticed a common trait with most forummers here - better-to-fight-until-death-even-without-facts-and-call-people-names-rather-than-losing-face. *sigh* I cant see this forum going anywhere.

This post has been edited by sengih: Aug 11 2012, 07:44 AM

"Invest your money on Genneva gold to get Hibah / Interest." Oppss, after BNM announcement, it will be "Buy your gold from Genneva to get discount every month."
Change title and website is a bad sign for GMSB.

Like what I said, you can sapu public money with a bottle of sands provided with promised interest. There is no other income beside selling the 'bottle of sands'. I refer this as ponzi scheme because the money from late comer come to existing players.

This post has been edited by doraemonkiller: Aug 11 2012, 08:36 AM

Bro,
I feel you. I know your feeling. I also know the feeling of your colleagues.

A dream job/investment may not last any longer. Your future plans gone haywire. Worst of all, all stuff/property/enjoyment you have bought and leverage on the income from this investment is in jeopardy. It feels so unsafe now. Uncertainties, uncertainties, uncertainties. Future is gloomy........

You and your colleagues must be feeling the culprit that spoil your good life is those bugger "warriors" in the internet. You must be feeling they spread "rumours", "lies", "unsubstantiated facts" etc that make sales so difficult now.

Bro, calm down and think it over. Who actually spoil the soup ?

No, it is not the forums, blogs, facebook, newspaper.

It is BANK NEGARA MALAYSIA and the ISLAMIC AUTHORITIES ! They pulled the plug and stop the music !

I have said it so many times. you guys have no choice. To survive, go fight the AUTHORITIES. The war zone is not over the internet. It is at Jalan Dato Onn.

Otherwise, be prepared for a new life without Genneva.....

Good luck !

?????

like I give a fuk about post count. You can tell the mod to reset my post count back to 0 for all I care. Stop being emo and post what you understand because some of us are ACTUALLY UNAWARE of BNM announcement.

Unless of course, you're the one who's trying to increase your post count.

I never knew about Geneva until now and found this thread through google while doing some research. And I beg the rest of you people...pls post facts (or submittable evidence or at least suspicions)...I tend to ignore Malaysian style emo comments no matter how long that person's post is.

The answers are repeated and repeated. The answers was posted on top of your question. If you r able to read my reply, can't you read the others?
Am I the person who create the law which participated in the parliament? Do not ask people why it is scam because we do not judge it but the law itself against it.
Like killing a person is so wrong because the law say so beside our perception. Different people have different perception just like different religions practice different cultural. Just like kill animals to eat is so wrong for certain religion but not wrong according to the law. It is not on what we think about it but the law say so.

If I may ask, which Act, which section or subsection did it violate?

Bro, still shutting your mind and don't want to accept ?

Looking at all the announcement/advertisement by Bank Negara. It says "Illegal deposit taking" and "investment scheme enticing investors with high returns"

Section 25(1) of Bafia http://www.bnm.gov.my/microsites/fraudalert/0201_deposit.htm

Please, give Bank Negara a call to find out. Specifically ask for "Genneva"

Genneva does no wrong if it is purely gold trading.
However gold "trading" promising "returns" is what lands them into the current situation.

Already called last Friday. No problem to buy gold from Genneva, the officer said.

Tq for pointing out the section. Went through the section, however it's definition is very wide. What does deposit means in that section? What is returns? How paying for goods can be considered deposit? Can somebody elaborate, please?

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Added on August 12, 2012, 9:45 amWhich section, please? Is hibah = returns?

This post has been edited by sengih: Aug 12 2012, 10:01 AM

Aiyoyo.... Since boss @pateagle say hibah is a gift not promise return. Gift it is...

But why should i buy expensive gold from Genneva rather than normal gold shop?
This is the fourth time i ask the question.....

I buy from Genneva say Rm250 per gram. But i get hibah every month.

I buy from Gold smith shop say Rm200 per gram. I dont have hibah.

So, if I invest in gold, bukan i invest in gold that sell with cheaper price? Or im looking for high price gold investment plus interest returns?

Im confuse...

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Added on August 12, 2012, 12:25 pmDo you have the officer's name ? Arrr...never mind, I am not here to police, but just to point out the obvious. Just hope that anybody who wish to buy gold from Genneva would call Bank Negara before parting with your money. If they say can, then buy. If they say otherwise, then don't buy

As for the definition, please ask Bank Negara why your company's name is in the list. Confront Bank Negara with their definition. Not in LYN. I have said it 4 or 5 times. Your target is wrong. BNM is warning the public against you. Not LYN. Don't bark at the wrong tree

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Added on August 12, 2012, 12:26 pmBoss, for your information, if you want to buy physical gold bar/coin/bullion for investment, banks may be cheaper

For example, UOB is selling RM164.61 per gram for 100g PAMP Gold (as of 10/8/2012 09:39)

Anybody who want's to buy physical gold can refer to http://www1.uob.com.my/personal/useful/price_rates.html

I think Genneva is selling in the region of RM200. No ?

As for your question directed to PatLu, I bet he/she doesn't have an logical answer for you. It is a very tough question to Genneva without mentioning hibah/interest and guarantee buy back .

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Added on August 12, 2012, 12:29 pmBoss/Lady Boss Pat,

I thought your company has been declared non-halal ? Was there any new development since the following report ?

http://www.bernama.com.my/bernama/v6/bm/ne...l.php?id=679876



This post has been edited by EddyLB: Aug 12 2012, 12:29 PM

I have been burned before, thus the research and questions. In my 20+ years interviewing people, I have met almost all kind of people - some tried to mislead, some stretching the truth, some use redirection, some pretend to know by quoting third party sources, etc. Thus, when in doubt, I ask. When I am suspicious, I verify. Hence, facts are welcomed. No assumptions, please.

Pat, are you with Genneva management? Even if you aren't, do tell them, knowledge is power, communication makes you 10x more powerful. What I meant is please do more publicity events so that public is aware of the business model.

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Added on August 12, 2012, 3:04 pmI didn't asked her name. FYI, I have never barked at anyone in this forum. I need clarification, I ask questions. Straight forward, isn't it?

As for the fatwa, I have read and reread. I didn't see any non-halal/haram words in it. I have done some reading in e-fatwa, and the committee normally is very specific when it declares their fatwa. For example, they declared forex as haram, ASB as harus. Can somebody clarify?

This post has been edited by sengih: Aug 12 2012, 03:04 PM

Just to clarify "bark up the wrong tree" is just idiomatic expression Not saying you are "barking" at all. Definitely not saying you are a dog.

On halal/haram, here is the press statement by the Persatuan Pengguna Islam Malaysia, FYI



http://www.muslimconsumer.org.my/v2/index....news&Itemid=303

Again, please fight the authorities/associations like the above instead of asking people in LYN to prove this and define that (I have said so many times like an old folk repeating to his son ). Please, don't bark up the wrong tree