You have absolutely right! Now he can say his projects are gold and all the rest of the project in the whole world is shit. After completion he would have cuci tangan and sayonara already.. maybe he will ask you where is the cash back money and ask you to pay instalment with that money. 

Once a crook, forever a crook. Good luck to the latest Smart financing batch.

We have gathered a group that has been conned by this fella, so far we have submitted our report to bank Negara and has excalated to levels up, they promise
To investigate the matter and give us a reply soon. Our guess is they have sent Someone to their seminar and one on one session to gather proof.

So far few MPs from both sides are willing to help our group to get back our money from this con job. they would be more than happy to help solve similar
To money game con job and the main cause of high house price.

See ya in the news!

You have absolutely right! Now he can say his projects are gold and all the rest of the project in the whole world is shit. After completion he would have cuci tangan and sayonara already.. maybe he will ask you where is the cash back money and ask you to pay instalment with that money. 

Once a crook, forever a crook. Good luck to the latest Smart financing batch.

We have gathered a group that has been conned by this fella, so far we have submitted our report to bank Negara and has excalated to levels up, they promise
To investigate the matter and give us a reply soon. Our guess is they have sent Someone to their seminar and one on one session to gather proof.

So far few MPs from both sides are willing to help our group to get back our money from this con job. they would be more than happy to help solve similar
To money game con job and the main cause of high house price.

See ya in the news!

when u escalated?

You want to join into the complaint group too? And don't worry it will be protected under whistle blower act 2010, only people inside BNM have our name list.

so end up did BNM take action or the 'guru' still conducting biz as usual?

This is not close soon. It is closed. All the bank loan agreement attached with undertaking letter regarding this issue. Fail to comply are subject to reduction loan margin or void of agreement. If you signed both agreement SPA and LA but eventually bank cancel your loan due to this issue... then bye bye to your deposit paid.

Oh I didn't know that you can't do this anymore. I think I know of some people who just did recently. I think still can jalan one.

New BNM governor dont have any issue big to concern. His clean. So his taclling this stupid prop bulu and developer conman maling house price inflate bublle like shit.

Now see he already up interest rate. You cannot bluff bnm. Its either they slow or fast only to take action.

It is a well known method.
Yes investors all using this to get more than 3 properties 90% loan. Plus buying at below market value then mark up loan can even get cash back.
If without this, confirm everybody will be stuck with only 2 properties.

This is subprime.

Foreclosure on newly vped property will be more than most expected.

Actually, I've 'invested' some money to this guru's tok show hoping to learn something extraordinary. Just FYI, the guru has been trained by SR so you know their way of conducting talk show. Basically, they want you to high five each other, hyped up each other that you'll feel you had made the best decision in your life for going into his seminar, and you are on the road to be a millionaire (theoretically, you will own assets over 1Million). Basically, I did not learn much from the so-called loan compression, but if you want to learn more, feel free to top up few thousand more to go for the 1-on-1 session, AND THEN, everything will be pre-plan for you. That's the package.

Cut this short, actually imo, i dont think it is illegal but rather a loophole that some investors have practising for quite some time. Proxy, loan compression and stuff. I have mates that somewhat trusted the guru fully, mind you the mate is having about 6 - 8k gross income, after some calculation the guru actually work out his plan to own 4 properties in one go. (Total investment is about up to 3Mil - Loan Compression all at the same time). Well, of course, this is under the 1-on-1 session which every 'student' has to pay extra just to get the advise and road to become millionaire.

I've stopped visiting the guru after the first 1-on-1, after sensing some pushy moves to ride on their train to get the super profitable project.

If you have a lot of cash and holding power, this plan is completely fine. But for those who are struggling to pay even just one property, I would say, good luck and all the best.

Wrote something on compression loans here, I think it might have had an effect on overall property prices.

https://blog.rentandreturns.com/malaysias-p...vesting-secret/

As of today, this method is still a loophole that is still workable.
Let's see able to last for how long.