This doesn't sound right at all.

This post has been edited by cherroy: Sep 11 2008, 04:27 PM

If the scheme is about joining or becoming the shareholders of IRC, then yes, probably one can gain if the company growth into like McD or other biz, but it is not.

Scheme member is not an investor of the company, the company issue has nothing to do with the scheme joiner.

High risk not equal to high return, it can be high loss.

High risk never mean high return, it just mean potential high return only which by no mean is guaranteed.

Invest in wrong and unsustainability investment or some scam (I am not saying this is, just a general statement) out there can mean high risk = no gain or high loss as well.

No one is stopping anyone to join or not, people just bring out the discussion point on sustainability, legitimatility, viable of the scheme.

Yup, this is more about the legality of the investment scheme.

Whether the food is tasty or the restaurant having good business or not is not the important point, after all, this thread is not about food and beverage discussion. It is all about finance and investment.

Restaurant can be legitimate but investment scheme can be scam as some forumers had posted before, the invested money is bank into third party account not under the restaurant name/company name.

You join the scheme (prepaid, or rewards or loan the money to them or whatever). You didn't become their shareholders through the scheme, different issue.

If taking in public money to becom shareholders, SC can take action on it.

Again, this is not a share nor you are shareholders of the company

It is a plan/scheme/deal/membership program of whatever you call it.

Above statement is based on input by forumers.

You shouldn't sell your "stake/membership/scheme" at all because there are no investment target out there can guarantee you that kind of return rate (with 6K capital get 16.8K return).

It makes no sense one to look for buyer to sell the "stake".
The reason of taking the money to look elsewhere investment target doesn't make a lot of sense because even stock market can't generate those kind of return 300% over 5 years in normal time.

So you should stop looking after buyer of your scheme (main because the return simply too good, can't get elsewhere) also this is not a place to sell your scheme/membership or whatever, this is against the forum r&r.

Until now, nobody knows those plan is legitimate or not.

IRC retails shop out there never mention or publish got such an scheme or the scheme is approved by any authority to be carried out to look for public money.

This post has been edited by cherroy: Apr 17 2009, 01:02 PM

Fyi, any investment that taking in public money need SC approval before it is deem legal, aka no company can run an investment scheme without SC approval.

Oppss, I forgot this is not called investment, right?

Anyway I am not in a position to comment anything this scheme, as said before I don't know whether this scheme is legitimate or not. I never said it is legal nor it is illegal.

Investment definition is not from my view or not. You put money in UT or ponzi scheme, that's an investment. You put money to open up an business or shop, it is not considered an investment based on general term.

Running a business is not an investment scheme. Opening a coffee shop is not an investment scheme.
Running a MLM business is not an investment scheme (you still need to get KHPDN license to do it).

Opening a coffee shop like IRC is perfectly legitimate, nobody question on this issue.

But running an investment scheme for public is different issue than opening a coffee shop already.

SC approval is needed when a company is taking in public money for investment purpose which yield you the return based on investment like UT, insurance etc.

Again, we had no proof to say the "investment scheme or membership programme" is legitimate, so we can't say it is legitimate or not. As it might fall into grey area. We can't make conclusive comment without both side of fact and information, which is a fair statement.

I had no intention to prove anyone wrong, or wish to see any scheme that is wrong or goes under. But this is a open discussion on the issue which yield the best interest to all, and informative in general.
Whether one wants to put in money into where, it is individual matter, we had no right to comment on it.

This post has been edited by cherroy: Apr 18 2009, 02:50 PM

Fellow forumers,
This thread is about discussion on IRC membership/scheme/investment scheme/food voucher.
This thread is not set up for selling your membership, or promoting of the scheme.

As long as discussion is carried in proper manner, not personal attack, it is fine, be it positive or negative view/comment.
It is a liberal society/world, one can say good about one thing as well as saying bad about one thing, after all it is personal view only.

If the scheme is indeed legitimate and benefitting, no matter how one say bad about it, it's truth won't change. So does with pyramid or scam, if it is scam, no matter how one says it is not, it is still is.
Truth will remain as truth.

Just hope discussion is carried out in properly manner instead of personal attack or whatever doesn't relate to this topic.
Also please don't treat it as a thread to promote it.
Thank you for the cooperation.

Cheers.

This post has been edited by cherroy: Apr 23 2009, 10:44 AM

The most basic is that:

No company can start or run an investment scheme as well as taking in public money's deposit for investment without SC approval.

So if one said it is investment scheme then SC needs to clarify it.

I don't know the scheme in details so no comment whether it is legitimate or not.
A lot of things can be run or happened to be in grey area.

A real highly profitable company generally won't need to seek for other's money, as if they really need to they can through :
1. bank loan
2. become public listed company.

which in this way, the financing cost is way way cheaper than other alternatives.

If one is joining in a private company as shareholder, scheme, or whatever plan, which has no SC approval or trustee on behalf, your risk is fully exposed to the company management sincerity, liking and whatever they wish to which one is powerless to do anything.

Don't mean to comment on IRC, just a brief comment on some general questions asked.

Actually any scheme or plan offered out there, the main risk or question we should always ask is what is the intention behind of those scheme besides the legitimate issue.

In any scheme, we must sort out both legitimate issue and intention behind of running it.

MLM doesn't mean is an investment scheme, 2 different front, but there are some grey area in between, that's for sure.

If as you said, they run MLM, does it have MLM license?
Yes, then you proceed to another aspect.

Does the MLM cross the line of investment?
Yes, then we have a problem with SC.
No, ok proceed to another aspect.

A company can apply MLM business and getting MLM license to run its business, but the company can just run based on recruitment purposes to generate fee and profit and money to the company, it is still legal, even you see it from left to right. Just we know it is not a sustainable way to do it.

One can set up an MLM company that required member to put deposit or memberships deposit fee of 1000, if they can get 1000 member then it is 1 million cash that company can utilise upon without any sweat nor paying interest to those money. Imagine that MLM structure of 10,000 member, 10 million at stake.
That's why BNM is setting a rule that ordinary company cannot take in deposit without any approval being granted.

In the recruitment based MLM,
Does it legal? Yes
Does it making profit to those joining? Yes, as long as there are late comers to pay the early birds. But number or members are not indefinite, there is some point, it will hit the saturated point.
Does it a ponzi scheme? Company and members will claim definite no, it is MLM business as it has MLM license. But we know it is no different and thin hair line difference between.

Beside the legitimate issue, old scheme or new scheme doesn't matter, it is the intention why the company want to do it in the first place. Satisfy this question is the most important issue, no matter how the scheme is run.

Take a bigger picture and see from the top side, instead of surrounding round and round below at the surface. No offence.

Cheers.

Above statement is none nor anything related to IRC or comment on it.

If anyone has MLM no license yet, and if now already been running an MLM scheme, then it is not right in the first place.

Sidenote, (not IRC direct discussion),

I don't agree on the statement "they still maintain the payment, then we can't label it is not a scam".

As long as a investment scheme is built on non-sustainable pymarid structure of using late comers' money to pay the early birds, then it is already a scam in the first place. Just how long it goes before collapsing.

or

an investment scheme is without SC approval, it is illegal in the first place.

Mind you, this forum thread is not for promoting, it is about discussion and sharing information only. People sharing their bad experience is perfectly OK, so does your good experience in it.

This is an open forum, and doesn't belonged to anyone nor specific for promoting IRC, it is not right to tell people to leave if they are having bad experience and posting their comment.

Cheers.

One doesn't own the cafe by joining the 'scheme'.
As one is not the shareholder of the company.

So those don't join IRC 'scheme' will be 'pokai'?
Wah, so strong word man.
So desperate telling others to join?

This post has been edited by cherroy: Jul 6 2009, 01:43 PM

Previously a company has been raid because offering share or preferred share to the public. I don't know this raid has any implication for other to stop it.

It is wrong and not legal for any company to offer share without SC approval in the first place.

If a business is using its own capital aka owner's money, nobody will care how it is run nor nobody will care how much profit it has made.

But if the company is attracting public money for funding, then different story. If there is no regulation, anyone can simply open a company then run away the public money or using public money as fund while company owner doesn't need to put up a single cent to run a company. The company owner can just said do or burst is all yours not mine.

Public has no protection in this issue, that's why we need a regulation that company cannot take in public deposit/money for investment purposes with relevant authorities approval. The issue is about safeguard public interest and money.

There is every reason why any private company cannot take in public money.

Just a note, whether other drive Ferrari or wear a diamond watch cost 100K, doesn't relate to whether the scheme is legitimate or not, or whether this (MLM or whatever name) you want to call it is legitimate or must be profitable to do so.

May be they get rich because of you all (contribute money to him/her).

Above statement is not meant to comment on IRC issue, just I see no point bring out this kind of discussion.