Like many mentioned before, SSM is just the Companies Commission of Malaysia. They only do statutory recordings, filings, etc, they don't look at scheme. Any scheme can only be solely looked into by the SC and only can be approved by the SC.

the term "backed by SSM" is more of a gimmick to catch unsuspecting investors who may not be as savvy.

guaranteed return is lagi a taboo word which is not found in any of the SC approved investments/scheme, let alone at such an unbelievable rate.

anyway, good luck to those who invested.

doesn't matter what flowery promise or what kind of picture they paint for you/the investors, those above redflags are good enough to put "most" people off.

Yong Tai as a public listed company in is bound by the SC guidelines and Bursa MMLR, cannot simply issue instruments like this without the prior approval of the authorities (mainly SC).

Any written back up of that statement?

Safe because it is new and not so safe if it has been in the market for a while? what kind of logic is this if the issuance by a public listed company is legitimate and approved?