Looks to me like,... Mpv asked UBB to provide the trustee service for them...

You may compare PIT with UBB.

UBB
1. under Trust
2. Tenure: 3 years
3. Proof of underlying investment: Unknown & Non Disclosure in Offering Document
4. Fund Manager: Unknown & Non Disclosure
5. Written in their paper: "Projected 5% - 7% p.a" - paid yearly
6. Shariah Compliance: Unknown
7. No insurance in the event of default
8. Beneficiary

PIT
1. Under Trust
2. Tenure: 3 years
3. Underlying Fund is managed by VCMC licensed by SC Malaysia
4. 15% p.a committed return paid quarterly before fees
5. Shariah Compliant
6. Insured by insurance 80%
7. Beneficiary

The question now is, will you put your money into something that is regulated (transparency) or non-regulated (no transparency)?

so these are not govern by Malaysia security commission?

never heard of it

This post has been edited by bcombat: Mar 31 2022, 10:47 AM

As far as I know, I've not seen any doc by UBB stating they're regulated under BNM or SC Malaysia. So in any event of default / dispute, you can't bring the matter to them.

Unless someone has any evidence to show otherwise.

-editing something-

This post has been edited by lifebalance: Mar 31 2022, 11:36 AM

Is the capital guarantee after deducing the 3.5% fees? If not, worst case scenario, you could be 11.5% down after 3 years.

Ubb is operating as trust so any dispute you need to bring in to the court of law

A trust doesn’t need BNM or SC approval to operate as they are just like normal private entity

You may choose to dispute, provided you know what did UBB do with your money - in this case, do you even have any idea where is your money invested for that return? Do you even understand any underlying risk?

In any case, I'm sure you've signed off some documents to agree to undertake the risk to allow the trustee (UBB) to invest your money for a return. If there is any losses, that's on you.

The purpose of BNM or SC in a picture is in the event of such dispute, there is a entity that you can go to which is covered by law. Ask yourself why no trustee firms operate cash trust that gives high returns even though they're more established or well-known than UBB? The only act that you can rely on would be the Trustee Act 1949 - purview of Suruhanjaya Syarikat Malaysia (SSM)

You can file your court case but that's on your own expense to seek for "damages" but like I said, there is no such thing as risk free "investment" for a high return.

Understand this Example
1. You (Settlor) pass your money to UBB (Trustee) to hold on your money and allow them to invest it on your behalf.

Same scenario
2. You (Settlor) pass your money to John (Trustee) to hold on your money and allow John to invest it on your behalf, any losses, you can't blame John for losing the money other than being mad at him but that's your issue because you trust in John's ability to "invest" your money. Now you want to sue John for your losses because you trusted him?
- Do you even know where John invest your money to? - "Unknown & Non-Disclosure"
- Did John tell you what's the risk of investing with him? - "Unknown & Non-Disclosure"
- Did John guarantee anything to you? if yes, that's on his own capacity to fulfill it. Not obligated by law if he's not honoring it. - "Projected returns"

This post has been edited by lifebalance: Apr 1 2022, 11:30 AM

I know how trustee system works which is why I stay away from ubb Fromm the get go

YOU are delusional SC and BNM are protecting from dispute

SC and BNM are only fronts for legal approval and transfers while any disputes still need to be dragged to court of law in the end

they are the regulators, you're making it sound like SC and BNM are just names to throw over a conversation like your grandma story.

You bring someone to court because of a BREACH. In your case, a DISPUTE (disagreement/argue about something) happened because something didn't follow through from the original agreement between you and the Trustee. So you're trying to pin a BREACH in the "agreement/contract". So good luck bringing to court and argue on what law did the Trustee breach that made them liable to pay on your litigation claims.

https://www.sc.com.my/resources/media/media...d-civil-penalty

Don't face palm too much, later face also swollen.

This post has been edited by lifebalance: Apr 1 2022, 01:10 PM

They are regulators for paperwork and legal compliance on money transfers but when comes to investments there is no protection in the 1st place

If there’s is a lot of StashAway users will disputing their losses from their recent KWEB selloff to SC and BNM instead

SC is just a license for financial products to be sold to mass market nothing more than that useless regulator as 90% unit trust are loss maki8ng

Please ya, if you're salty over SC and BNM on their job, bring it to them. I am not here to entertain you and your grudge against them.

And a word of advise, learn to talk and ask properly, not in a sarcastic way with your . if that's your style, I feel sorry for you.

- I won't bother to reply your quotes anymore unless it's related to UBB / thread-

I am not salty against SC and BNM but they are not trustworthy at all and politically motivated most of the time

If you still think they will protect your monies good luck to you then

I intent to put my money into cash trust! So far, everyone including my siblings are talking about UBB is the one!

What is PIT? Is there returns better than UBB over that 3 years f tenure?

Hmm I can't tell. What do you think from your assessment?

Saw their big size advertisement alone LDP….

Federal also

WHEn investment fund having ads all around we all know that the fund in deep shit

If the fund is capable wouldn’t resort such marketing as good fund will have lots of inflows when markets are turbulent

Basically sweet talk you into buying something while smoothen and hide those shams behind the scenes

Is that what you experienced when she asked you do as per image?
Taken from lyn tread
ACE Holdings Berhad | ACE Group, Anyone here is an investor?
https://forum.lowyat.net/topic/4721390

This post has been edited by yklooi: Apr 9 2022, 11:44 PM


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