Hello frens,

An ex bankers recommended this Ubb Trust to me
Its new to me as i never had any trust account.

This particular product is called Cash Trust.

www.cashtrust.my
www.ubbamanah.com


Their fee is 3.5% pa , seems quite high
yet it says NETT return assured 6-8%pa for 3 year tenure product,
min RM60k capital guaranteed,

She said it has benefits that FD do not provide in
death claims, bancrupty etc..

Any of you guys have Trust account with Ubb,
are they reliable?

I am tempted to try as FD rate is getting lower..

Hi,

My fren intro this cash trust to me as well.
UBB is a trust company which established more than 30years in market. This Cash trust launched since 2014, 3 years tenure, with bankruptcy proof, creditor proof and tax free benefits as normal trust. So far every year the trust giving 7% return per year. The return will be direct transfer to our bank account. Now they having promo for the fee reduce to 1%, i dont know whether your banker got inform u.

For me, it more worth than FD since the return rate is higher, it can be my another savings option. The only thing is if u premature withdrawal will have penalty. If u looking for mid-long term savings plan, it can be your choice.

Just my own sharing, hope it helps.

high risk product, i give it a miss

Anyone know more about this cash trust? Is it reliable?

do you mean, are they regulated/authorised in Malaysia?

It is not capital "protected". It is only capital "safeguarded". So invest at your own risk.

I believe they are governed by Trust Act. Primary role would be to protect the capital or monies that put into the companies by the Trust Act. The earning of return more that any statutory limit, is probably a business transaction. I am not sure if there is a written % as return.

do take note below if you meant that as your concern about "reliable"

btw, do take a look of their % of charges per annum other than just the % of returns per annum too
(for they could gives you 6% but then charges you 4% for it)

hi sifu, just want to recheck, my agent got say its net.
example, if that year get 8% roi, we get fully 8%.

or is it 8% - 4.5% ?
thanks.

cos i see FD also around 2.5-3.5% nowdays...
any thoughts?
got a FD matured in july.
thanks in advance

while waiting for confirmation....

in that case, get the agent to chop sign with company chop to confirm it is 8%pa net of all other fees?
ask him/her to tell how that trust company gonna make money if they gives you 8% net pa (after minus the 3~4% annual mgmt fees)??
they need to make >12% pa just to pay you, the mgmt fees + the agent commission....
or
read post 36 (next page) by MUM

This post has been edited by yklooi: Jul 24 2020, 12:48 AM

Im interested to know more too

it's net

so far... this is the reply.

[10:34, 12/06/2020] The service fee is taken from the returns earn before the payout of ur interest.
[10:35, 12/06/2020] The amount stated in the deed is the interest u earn.
[10:46, 12/06/2020] If u r wondering y the company can earn so high interest? It is because trust companies r not banks. The cashflow turn over in banks are very fast as compared to trust funds. Trust funds whether in aseets or cash are created as legacies for the family or for future generations or the protection of wealth. All assets and cash are kept and managed for 1 or 2 more generations. The trust act started in 1949. So the assets and cash has been kept since then. Whether by UBB Amanah or other trust companies. 2ndly trusts companies illiminate the middle men which is the banks. Which is why thus far trusts funds have only been available to high net worth people like bill Gates and Jho Low for example.

so i think, they earn more than x% then after minus fee. then they give us 7.5% 1st year, 8% 2nd year. mine is the crisis funds type, got another normal type plan.

when i go back Pg, i will ask him f2f loh. now thru whatsapp nia.

just do as per what as per suggested by yklooi..." get the agent to chop sign with company chop to confirm it is 6~8%per annum net of all other fees" and not returns 6~8% nett over the entire 2 yrs tenure.
i think the agent/company sure got no problem doing it....
as the earlier forumer had also mentioned

This post has been edited by MUM: Jun 13 2020, 11:55 AM

To those who are interested, this appeared in my Facebook feed, gives 8%

https://www.facebook.com/101940228132815/po...261775/?app=fbl

too free, googled and found this....

https://www.dcsprivatetrust.com/product

written 8% PA, ....but they will charge 3% subscription fees per annum with heavy penalty for premature withdrawal ...

also unsure how long will it takes for that money to be refunded upon completion of tenure......

updated latest:
or
read post 36 (next page) by MUM

This post has been edited by yklooi: Jul 24 2020, 12:49 AM


Attached thumbnail(s)

If it is too good to be true it most probably is.. Am not saying this is not a genuine scheme but it only cost rm 15 to make a company stamp and rm 2k to register a company. Office rent is also not expensive. If a company takes your money, pays it out to someone and later declares bankruptcy legal action is useless as legally they didn't do anything wrong.

do you meant UBB is a RM2k company? and UBB as a trust company can declares bankruptcy legal action is useless as legally they didn't do anything wrong.?

I am just giving you examples on the many ways how it is possible to commit fraud. It's easy to forge documents, a website and a office. A lot of times in fraud the agent or the company committing the fraud will claim linkages to a proper company. Like recently Vincent Tan just lodge a police report as there have been a lot of people claiming he is backing some cryptocurrency investment.

You have to check things for yourself but currently with the low FD rates any commited return of 5% and above most probably has a chance of partial capital lost.