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.

UBB is a trustee company. So which company is running the investment scheme? To collect money from the public you need to be licensed under the interest schemes act 2016 or the capital markets services act. In any case need prospectus. Where is the prospectus ? Can’t find any in their website.

while waiting for responses to your query, you can try to explore their website for some added info
or contact them directly if you cannot wait for responses and are in need to know to clear your doubt.
https://www.ubbamanah.com/cash-trust

(This type of Trust fund is not the same as unit trust fund)

This post has been edited by MUM: Jul 15 2020, 07:45 AM

Probably Section 8/1/d of Trust Companies Act gives them the authority.

see IF what you hear is what you get...



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Gives them the authority to invest but at the instructions of somebody else ? Who is the somebody else? Basically that somebody else needs to be licensed.

refer to GUY3288 posting above, see Management of trust capital,....there is a mention of "Authorised Investment",....

thus i think the more appropriate question would be "what are those?"

but then, as per CYCLOPES post about Trustee's ACT 8/1/d,...which reads...


(d) to act as investing and financial agent for and on behalf
of executors, administrators and trustees or any other
persons whatsoever, and to receive money in trust for
investment and to allow interest thereon until invested;
and to undertake for and on behalf of executors,
administrators and trustees or any other persons whatsoever
the negotiation of loans of all descriptions and the procuring
and lending of money on the security of any description
of property, immovable or movable, or without taking
any security on such terms as may be arranged, and to
advance and lend moneys to protect any estate, trust or
property entrusted to the company as aforesaid and to
charge interest upon any such advances:
Provided that nothing herein contained shall be held
either to restrict or extend the powers of the company as
trustee or agent under the terms of any trust or agency
that may be conferred upon it;

.......btw,...since they are governed by this ACT....
i cannot find in the ACT that mentions that THEY MUST have a license to do that management of trust capital....
i could be wrong or missed reading it....
Please go thru and correct me if i erred in reading it
TRUST COMPANIES ACT
http://www.agc.gov.my/agcportal/uploads/fi...N/Act%20100.pdf

NO wonder you cannot find more info about how they operate in their website......for as per the ACT, they are obligate / mandated to just need to submit annual statement to the Register....no mention of the need to put for public viewing too...


This post has been edited by MUM: Jul 16 2020, 08:25 AM

Was quite interested till i read this. Pg has too many get rich schemes to trust.
In my view, there are too many red flags, penalty of 12-15% for early withdrawals, service fees by % of your capital?
Would not recommend if you are betting your life savings on it.

[quote=MUM,Jul 16 2020, 08:04 AM]
refer to GUY3288 posting above, see Management of trust capital,....there is a mention of "Authorised Investment",....

thus i think the more appropriate question would be "what are those?"

but then, as per CYCLOPES post about Trustee's ACT 8/1/d,...which reads...
(d) to act as investing and financial agent for and on behalf
of executors, administrators and trustees or any other
persons whatsoever, and to receive money in trust for
investment and to allow interest thereon until invested;
and to undertake for and on behalf of executors,
administrators and trustees or any other persons whatsoever
the negotiation of loans of all descriptions and the procuring
and lending of money on the security of any description
of property, immovable or movable, or without taking
any security on such terms as may be arranged, and to
advance and lend moneys to protect any estate, trust or
property entrusted to the company as aforesaid and to
charge interest upon any such advances:
Provided that nothing herein contained shall be held
either to restrict or extend the powers of the company as
trustee or agent under the terms of any trust or agency
that may be conferred upon it;

.......btw,...since they are governed by this ACT....
i cannot find in the ACT that mentions that THEY MUST have a license to do that management of trust capital....
i could be wrong or missed reading it....
Please go thru and correct me if i erred in reading it
TRUST COMPANIES ACT
http://www.agc.gov.my/agcportal/uploads/fi...N/Act%20100.pdf

NO wonder you cannot find more info about how they operate in their website......for as per the ACT, they are obligate / mandated to just need to submit annual statement to the Register....no mention of the need to put for public viewing too...



The Trust Company act must be read together with the interest schemes act and the capital market and services act.

In short anyone collecting money from the general public for investment purposes needs to be licensed to do so. The purpose for which the money is collected and how it is going to be invested needs to be made clear in a document which is called a Prospectus.

well, then i guess the above is your own interpretation of the requirements.......

there are many trust companies in Malaysia too...
here is another example other than the UBB ...
try explore this site to see if there is a prospectus available for public viewing?
DCS private trust
https://www.dcsprivatetrust.com/

i maybe wrong, but i think there are other entities, that "collects money from general public for investment purposes but does NOT need a "PROSPECTUS" .
this just came to my mind ....the CO-OPERATIVE SOCIETIES....
for they have their own CO-OPERATIVE SOCIETIES ACT just like the trust companies have their own TRUST ACT to govern them.

added this, (from TIM SUM buddies), banks collect my money in saving a/c.....they use it for investment purposes...
thus if following your requirement as stated, "In short anyone collecting money from the general public for investment purposes needs to be licensed to do so. The purpose for which the money is collected and how it is going to be invested needs to be made clear in a document which is called a Prospectus."...then do they need to have a PROSPECTUS mentioning clearly the purpose of the collected money and how it is going to be invested to saving a/c holders too?

This post has been edited by MUM: Jul 17 2020, 08:38 AM

[quote=Thasmita,Jul 17 2020, 07:26 AM]
[quote=MUM,Jul 16 2020, 08:04 AM]
refer to GUY3288 posting above, see Management of trust capital,....there is a mention of "Authorised Investment",....

thus i think the more appropriate question would be "what are those?"

but then, as per CYCLOPES post about Trustee's ACT 8/1/d,...which reads...
(d) to act as investing and financial agent for and on behalf
of executors, administrators and trustees or any other
persons whatsoever, and to receive money in trust for
investment and to allow interest thereon until invested;
and to undertake for and on behalf of executors,
administrators and trustees or any other persons whatsoever
the negotiation of loans of all descriptions and the procuring
and lending of money on the security of any description
of property, immovable or movable, or without taking
any security on such terms as may be arranged, and to
advance and lend moneys to protect any estate, trust or
property entrusted to the company as aforesaid and to
charge interest upon any such advances:
Provided that nothing herein contained shall be held
either to restrict or extend the powers of the company as
trustee or agent under the terms of any trust or agency
that may be conferred upon it;

.......btw,...since they are governed by this ACT....
i cannot find in the ACT that mentions that THEY MUST have a license to do that management of trust capital....
i could be wrong or missed reading it....
Please go thru and correct me if i erred in reading it
TRUST COMPANIES ACT
http://www.agc.gov.my/agcportal/uploads/fi...N/Act%20100.pdf

NO wonder you cannot find more info about how they operate in their website......for as per the ACT, they are obligate / mandated to just need to submit annual statement to the Register....no mention of the need to put for public viewing too...

The Trust Company act must be read together with the interest schemes act and the capital market and services act.

In short anyone collecting money from the general public for investment purposes needs to be licensed to do so. The purpose for which the money is collected and how it is going to be invested needs to be made clear in a document which is called a Prospectus.

[/quote]


If I may offer my interpretation.

You put your money in a trust, not solely for investment, but to ' protect' it against events/circumstances that are provided in relevant Acts.

The Act also provides/mandates that the money is to be invested as per the trust deed. That gives the company leeway how it wants to invest provided you sign the trust deed with all the relevant provisions.

agents are actively recruiting people to join
now that FD rate so low.

Just wonder what kind of investment they do,
so brave can tell people it is capital protected,(investment safeguarded by equal value asset mean the same??)

And can get NETT 7.5% first year and 8.0% 2nd year

Like that might as well go take loan put all in themselves, why need to sell..

Is like why those claim guru, if they can earn from stock market why bother to sell tips or course to ppl for example https://en.stockpick2u.com/plans-pricing

Yes i also feel the same
trustees have more leeway compared to licensed investment managers.
if their investment got cheated, and they need lawyers etc to get back your capital,
all those expenses will be billed to investor,

i hate the word Donors used in agreement
Donors and expect to make big 7-8% profit.........?

I first saw DCS when my relative shown me an ad by an agent on WeChat, RM30k per lot and 8% return per annum. While 8% return isn't impossible to achieve, it should have a considerable higher risk than traditional investment products. Also, RM30k is too much to risk, so I advised my relative to stay put and not make rash decision, better stay away from it.

Besides, their website at first glance looks like just a Wordpress template. While it looks nice, I personally don't feel safe since any Tom, Dick and Harry can create a website in a day with just the help of Youtube.

Just my 2 cents.

This post has been edited by KCY3701: Jul 18 2020, 06:55 PM

this 8% is not yet MINUS the annual administration fees of 3%?

update: for some trust...it is net of all fees...BUT, BUT this 8% MAYbe just a PROJECTED number .....thus is not guaranteed by the company as the T&C did not mention guaranteed but projected.
Thus have to really go read the T&C BEFORE you get involved with one.
an example of part of the T&C from a trust company are as per Guy3288 postings above.....read the word "PROJECTED profit share"

This post has been edited by MUM: Jul 24 2020, 12:41 AM


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I'm not sure. Didn't see any mention in the ad. Maybe its the next step gua.

6-8% return per annum? Pls ask UBB to guarantee. Projection anyone also can do. Unit trust and insurance equity funds are all projecting at 9% return. What we want is guarantee return. A lot of UBB agents out there are trying to earn quick money by misrepresenting. I have called UBB personally. They mentioned it is just their projection. I asked them to share with me their underlying investment assets ie what do they invest in to generate such high return, they cannot give me a definite answer. At least unit trust and insurance show their investment in detail in their investment report.

If they can guarantee even at 6%, the whole world will be queuing to buy from them. Don’t trust what the agents say. Ask for black and white. This is our hard earn money. Be careful. All the best

from what i knowo

first they cannot invest into equity
second cannot invest in bond
3rd which i heard only allowed to borrow to bank, as banks work with them to loan out the money.

Interbank interest rate is less than 2% per annum. Why banks want to borrow from them? Moreover banks got surplus liquidity now as banks are also very afraid of Non performing loans during bad times like now. They have plenty of money but don’t know who to lend to. Likely banks are selling the credit cards debts to UBB. With 18% interest rate charged, default rate is also very very high. Extremely risky. If it is so good, banks will take their own risk to lend their own money to the credit card borrowers.
Malaysians trust people so easily. Pls make sure our hard earn money is in safe hands. There is no free lunch in this world. Greedy people will suffer in the end. If UBB dare to guarantee even at 5% per annum, everybody will buy.
Government just launched RM500 mil Sukuk Perhitin at only 2% per annum for a duration of 2 years, it was oversold. Altogether RM666 million sold. 2% return!! This 6-8% return ha!ha! Ha! They don’t need agents to sell. Just advertise in their website. You will see long queue in from of their office.