It seems like the previous topic on ACE investment had been closed for no reason.

Anyone facing any problems with ACE?
Anyone got their capital back from this investment?

I hope all the investors would not mind to share their experience here.

ace hardware?

Ace Holdings Berhad & Ace Credit (M) Sdn Bhd.

some info about ACE investment in this thread....
post 3 & 5
ACE Holding Berhad, Redeemable Preference Stock
https://forum.lowyat.net/topic/4501427

thanks bro. coz I found out that they closed to thread and not allow to comment anymore.

would like to know those who are invested got their money back.

i got no idea how you gonna get your money back...
maybe it is stated in the contract of agreement when you first started to join.

if i am not mistaken, i think there was a thread (now "missing/removed" already) where a high executive (i think it was a mkt manager), she even gives out her contact. Then some forummers that had been asking about those withdrawal issues previously had came back telling their issues had been solved.
just not sure if it was ACE thread,..cannot fully recall.

maybe perhaps, you can wait for responses from those who had similar issue.
Good luck.

Have you managed to get your money back?

No bro. Now company is in deep trouble. Have you managed to get money back?

Same here and it seems the company is trying to avoid rather than be upfront of the matter, sign of worst to come.

Let's join forces as a group and decide on a next step.

ah yes, have a read
https://www.sc.com.my/resources/media/media...-to-subscribers

How come no one is talking about this news?

https://www.theedgemarkets.com/article/busi...each-agreements

Maybe all those vested should start a class action suit

Cause usual business disputes 🤦‍♀️ businessman sue each other are common

Anyway want bigger get a lot of shareholders to file class action suit then it will be bigger news

Sc has also approached me out of nowhere. It seems they are eager to build a case against ace.

They seem to imply that I have a very valid reason to lodge a report against ace.

But bear in mind sc can’t really help retrieving whatever money that you have invested, it’s up to you. All they can do is penalize and suspend ace.

But with SC keeping a close eye on ACE as of late, I may have a very solid evidence to take legal action if things go south next year.

Yes they need valid reason from shareholders in order to issue suspension notice on Bursa for good

Interesting, maybe SC is trying to build a case from multiple angle against ACE

https://www.theedgemarkets.com/article/apex...onal-conditions

ACE is not listed on Bursa so Bursa can't take any action on them. The RCULS issued by ACE is regulated by SC and therefore in the past they have mandated for ACE to revise the prospectus or disclosure document

ACE however is a substantial shareholder of APEX Equity Holdings Berhad which is a listed company, there has been some civil suit by SC against ACE and APEX

@TWL9010 @mytrader

I think it's time for you guys to consult your lawyers and take legal action if you want your money back.

All attempts to reach Ace by phone, emails and through appointed agents are useless. Ace is totally ignoring its investors.

However, I managed to get a hold of an insider, she told me Ace has received tons of LOD from lawyers and she also did mention that Ace is trying to find a way to refund all the affected investors.

I guess MOD should pin this thread so that it will serve as a warning/reminder to all future investors to not invest in Ace group and its subsidiaries unless they resolve the issues first.

Ace Group has removed Ace credit and bunch of others from its website.

https://www.acegroup.com.my/

This doesn't sound good at all.

before:


after:


This post has been edited by afro111: Jan 17 2023, 10:27 AM

The list of people under key management has also shrunk significantly. I remember at one point they had a lot of ex-SC working for them. Wonder what happened. Could they have sold or liquidated Ace credit?

no idea, but there is almost no communications at all between Ace and their investors which almost sounds a lot like a scammer.