Feb 10 2023, 04:00 PM
QUOTE(MUM @ Feb 8 2023, 01:06 PM)
I think, some would also keen to know what that company invested in with the money. As the more than 36% pa returns is very high. They maybe doubt the sustainability of the payout.
Is there documented evidence that that product is really from Yong Tai Berhad?
That company that offer that scheme may just be a subsidary. Thus not much direct legal implications to YongTai Berhad if a subsidiary were to close down.
Did Yong Tai Berhad sign any documents directly with YOU?
If your agreement are made with that subsidary or your payment are made to that subsidary....Go chase after the subsidary, not Yong Tai Berhad.
https://ytbcap.com/program-structureIs there documented evidence that that product is really from Yong Tai Berhad?
That company that offer that scheme may just be a subsidary. Thus not much direct legal implications to YongTai Berhad if a subsidiary were to close down.
Did Yong Tai Berhad sign any documents directly with YOU?
If your agreement are made with that subsidary or your payment are made to that subsidary....Go chase after the subsidary, not Yong Tai Berhad.
Hmm, very interesting, if it's outright paying the fixed investment returns, it sounds like deposit taking scheme which is not allowed without license. But then it also talks about subscription units and the redemption page talks about utilising subscription units to redeem tickets or hotel stay etc. Means cannot get back cash?
Btw, this is probably very new, Yong Tai's last annual report for June 2022 states that this subsidiary is dormant.
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