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 Ubb CASH TRUST 3 years nett 6-8% pa anyone?, UBB Amanah Bhd

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jw_ P
post Oct 22 2020, 06:12 AM

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Probation
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I personally seen the Trust deed by DCS Private Trust as my relative asked me to help her to go thru the deed.
DCS PT is the name of the product/consultant as mentioned by agent, it’s a product/consultant by Global Asset Trustee Berhad.
My research on ATCM: https://www.atcm.com.my/office-bearers
I saw the name of GATB.

In the deed, there is a clause something like this “to achieve at least returns of eight per centum (8%) per annum. Hereafter referred to as “the Dividend” on the subscribed sum for the benefit of the trustor as long as the Trust subsists.”

This is what I remember. The agents also told my relative the Trust deed is getting for Common Seal but not stamping.

Hope my info do help.

jw_ P
post Oct 22 2020, 06:19 AM

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Probation
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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...
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As per I read the Malaysia Trustee Act 1949, it mentioned

https://pictr.com/images/2020/10/22/784Itg.md.jpg
jw_ P
post Oct 24 2020, 05:17 PM

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Probation
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QUOTE(nightpipper @ Oct 22 2020, 08:27 AM)
Yes, the lack of information is very disturbing. You would have thought with those returns, that they would market it more and people would be lining up to invest
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Agent mentioned and advise, "Please do not treat it investment and also ROI, it's an inheritance fees, it's estate planning."

The agent does mentioned that Global Asset Trustee Berhad mainly investing in property. They will purchase under market value property which around 300k and resell. I researched on DCS PT, they have a subsidiary property company which runs the buy and sell and they do have a bunch of youngster who well prepared to purchase the property which around 300k whereby they only afford as they are the low-range youngster who just get into the society.
That's what i heard from agent.


jw_ P
post Oct 24 2020, 05:22 PM

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Probation
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QUOTE(Cyclopes @ Oct 22 2020, 08:10 AM)
Not that I know, but they could circulate to only those who subscribe to the scheme.
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This one I could help to answer. My relative actually did the research on their annual financial report. It's negative.
But as well as he research on other Trustee Company such as R*B Trustee, M**Ban* Trustee and also U*B Trustee, all shows negative also.

Agent does tell us that Trustee does know how to avoid tax, that why it'll always show negative.
Same as the client could avoid tax by doing Estate Planning.


 

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