Mar 8 2019, 09:53 PM
QUOTE(Brinkman @ Feb 17 2019, 04:47 PM)
Hi All,
I was introduced to a musang king investment scheme by a friend.
The scheme was offered by a company called eco starland (webpage here), but they do not put up the details of the scheme on their webpage.
The deal is:
you pay around RM 10k+ per tree for ownership of the tree for 40 years. The company will take care of the trees for you, after fruiting and selling the durian (you can choose to sell the durian to the company), minus the expenses, the profit is split between the company and owner. The projected profit is quite high, with full return of capital in year 7 after investment. As of now, they have acquired and cleared the land, currently planting in progress. The targeted market for the durian is to export to China, which has high demand of durian. There will be Sales and Purchase Agreement should one decided to invest.
After doing some due diligence, I think it is less likely to be a scam because there is some credibility to the management team:
1. The CEO Yirin is also involved in other businesses. One of it is Dynaplast, which although less established, but is a supporting evidence of credibility.
2. The CFO Mr Tong is quite an established farmer and he was featured in Malaysian Agriculture magazine (Issue 12). He is also the owner of Tong Seng Nursery/ Durio Farm.
3. The CFA Mr Wee is the son of Wee Chong Beng (the person who registered Durian Raja Kunyit D197 (Musang King) at the Ministry of Agriculture on 1993).
Please point out if you feel that my due diligence is insufficient/ flawed.
What makes the investment to have higher risk is:
1. The company is young (not listed) and this should be their first investment project.
2. There is no clear information on how the company is going to report profit and expenses yet, they could be reporting false numbers.
3. There is no compensation in the event of force majeure.
4. Although the company will compensate in the event of disease, but it is an unknown if they have any funding to make the compensation (say, entire plantation is wiped out by the disease).
5. Of course, it can still be a scam...
Please let me know if you think it is a viable investment, any risk that I missed out, any more due diligence that can be done, etc.
So whats the conclusion?did u invest?I was introduced to a musang king investment scheme by a friend.
The scheme was offered by a company called eco starland (webpage here), but they do not put up the details of the scheme on their webpage.
The deal is:
you pay around RM 10k+ per tree for ownership of the tree for 40 years. The company will take care of the trees for you, after fruiting and selling the durian (you can choose to sell the durian to the company), minus the expenses, the profit is split between the company and owner. The projected profit is quite high, with full return of capital in year 7 after investment. As of now, they have acquired and cleared the land, currently planting in progress. The targeted market for the durian is to export to China, which has high demand of durian. There will be Sales and Purchase Agreement should one decided to invest.
After doing some due diligence, I think it is less likely to be a scam because there is some credibility to the management team:
1. The CEO Yirin is also involved in other businesses. One of it is Dynaplast, which although less established, but is a supporting evidence of credibility.
2. The CFO Mr Tong is quite an established farmer and he was featured in Malaysian Agriculture magazine (Issue 12). He is also the owner of Tong Seng Nursery/ Durio Farm.
3. The CFA Mr Wee is the son of Wee Chong Beng (the person who registered Durian Raja Kunyit D197 (Musang King) at the Ministry of Agriculture on 1993).
Please point out if you feel that my due diligence is insufficient/ flawed.
What makes the investment to have higher risk is:
1. The company is young (not listed) and this should be their first investment project.
2. There is no clear information on how the company is going to report profit and expenses yet, they could be reporting false numbers.
3. There is no compensation in the event of force majeure.
4. Although the company will compensate in the event of disease, but it is an unknown if they have any funding to make the compensation (say, entire plantation is wiped out by the disease).
5. Of course, it can still be a scam...
Please let me know if you think it is a viable investment, any risk that I missed out, any more due diligence that can be done, etc.
Quote
0.0126sec
1.09
6 queries
GZIP Disabled