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

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)

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

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.?

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

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

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

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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what is there for estate planning or inheritance planning when the UBB Crisis trust tenure is 2 yrs while UBB Cash Trust stated the tenure is only 3 yrs....?

This post has been edited by MUM: Oct 24 2020, 05:37 PM


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if i am not mistaken,...i think since from post 1, we are discussing about either of 2 products, where the "current participants" mentioned that they got 6~8%% pa NETT of fees....

they even posted in this thread....
Ubb Trustfund covid19 6.5%
https://forum.lowyat.net/topic/4955758/+40

anyway, jw_,...are you talking about these product?

this forummer posted he had "so far, have been profiting for the past 3.5 years (even though the return does not promise guarantee, comes with a little high of volatility which is acceptable) and the return is about 20-30% averagely."

https://forum.lowyat.net/topic/5053500/+0#entry98828700

that is a very responsible kind of comment

this 5.5%pa dividend that you saw your client obtained is nett of all fees?

how long have you been with this company?

is 7%pa nett, the normal returns for either of this Cash trust or Crisis trust?

has either of these 2 trust (crisis & cash trust) given out 7%pa nett for the pass recent few years continuously?

when have this crisis trust ceased to exists?

what is the current nett pa return rates given out for the cash trust?

This post has been edited by MUM: Nov 9 2020, 03:41 PM

the previous Crisis trust has historically earning 7%pa nett for more that 3 yrs continuously?

This post has been edited by MUM: Nov 9 2020, 04:21 PM

check this out?
they said they ARE IN FULL COMPLIANCE OF THE FOLLOWING ACTS
​
Trust Companies Act 1949
Companies Act 2016
Trustee Act 1949
Personal Data Protection Act 2010 (PDPA)
Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA)
Wills Act 1959
Probate and Administration Act 1959

https://www.ubbamanah.com/our-expertise

ask the agent that told you ?

ok noted

Yes... Returns are as similar to as discussed in the last few pages

yar lor,...some trusts has subscription fees and some has stated annual fees too....(all in must generate abt 10% pa)

This post has been edited by MUM: Aug 16 2021, 10:34 PM

while waiting for responses, i kay poh abit,...
i think this UBB cash trust is capital protected, only the returns are not guaranteed,....i think it did mentioned "projected"

do take note of this too,
What is the tenure of UBB CASH TRUST? Will there be any service fee involved?
The full tenure is of 3-years. A 4.5% as a service fee will be charged per annum.
http://www.ubbtagency.com/cash-trust-.html

also previously it did mention about the hefty fees for premature cancellation or early termination of tenure

This post has been edited by MUM: Aug 21 2021, 07:07 PM


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Mind sharing what trust did you enrolled in? Cash trust or crisis trust or etc?
How long had you had them?
Any trusts had matured and you had renewed again?