already inform the company and it was i typing error..... thank you so much for posting....well you can go to pandan indah steven's corner to ask Mr.Steven himself or you can check out the corporate journey business magazine (chi.) April and May issue it does cover about this Steven's Tea Garden opening 100 outlet and are offering membership programs...

---

Added on May 9, 2008, 9:37 pmwell it still the mamak food, mamak waiters, and the feel will be simply better,,,,at least i never eat mamak food in a coffee bean style cafe....hope it will feel more than mamak....

This post has been edited by siliconwiper.com: May 9 2008, 09:37 PM

rather interesting and timely for steven's to move forward to compete with the likes of kopitams mushrooming everywhere ...

franchising has its plus and minus ....

its usually a workable business modal and everything needed to operate is in place without the potential investor worrying about concept , menu development , training etc.

being a somewhat controlled environment , a franchisee is subject to follow the rules of the master franchisor where he/she likes it or not.

but its something workable for malaysia , i am sure we are keen to have clean mamaks

being a leader in Mamak is not easy, with their 31yrs mamak background and now implement with a membership program wer customer can play a part to make the success of - Eat & Get PAID Stevens Tea Garden "The Mamak Kingdom"

This post has been edited by siliconwiper.com: May 16 2008, 01:46 AM

Okay Mr. Siliconwiper. Near my place of work I can have a tosai and teh tarik for RM2.40. The place is spotlessly clean, air-conditioned and has a TV. Beat that and you're on

aiyo dun beat beat lah......if you know midah in cheras used to have makro and now take over by Tesco...well nearby also alot of small kedai runcit /mini market...cheap ad clean also but after 2mth tesco in..sales drop by 30 - 40%. We can hv a cup of kopi in rd side kopitiam at rm1.80 - rm2.20 but you can always hv a cup of kopi in Old Town Kopitiam at rm 3.50 - rm5.50 ....how leh?

---

Added on May 18, 2008, 12:47 pmregarding T&C better msn me lah...or PM me Lowyat very sensitive oh...after i kena warning 3 days cannot use lah.....msn : chriswong@siliconwiper.com sorry o....

This post has been edited by siliconwiper.com: May 18 2008, 12:47 PM

I dont think so. As long as you're not advertising, then it's ok to share information... I like to criticize as it makes everyone benefits

thanks keith,
well i'm sharing this coz i'm steven's corner customer for 12 years now. and ever since they wanted to reward the customer with membership program then i just subscribe as it benefits me as a loyal customer and now i'm eating and getting paid monthly. great consumer reward drive to make the new brand Steven's Tea Garden to be a very competitive fnb outlet for local brand and international brands. Will support them to make it success...

Since Im always go eat at Steven Corner OUG, I would like to know more about this. I dont quite understand with the Rm3k for the program. If you eat any of Steven corner restaurant, you are entitled for free? So how do I get paid ? Its confusing me

Putraskyline,
More better when your STeven's regulars...as the new brand Steven' Tea Garden are opening soon,,,they want to reward all regular and new customer that can support them for long term. We subscribe a prepaid membership program at rm3k and STG will give us rm9k in total reward but are given by mthly basis...which is rm50mthly Food Voucher up to rm3k in total so that you can dine in and STG pay us rm150 cash as rewards for being a loyal customer. the pay are mthly up to rm6k in total. So be a STG memebrship now before sold off...as only 20k pcs will be offer to public started last 17/04/08. join me for opening launching on 23/05/08 for open house eat free that day..then you can ask me about the Eat and Get Pay offer.

The voucher got expire date? How long does the voucher last? We can spend anytime we like?
Under wat condition we only can get the RM150/mth? Or no condition attach? What defines loyal customer?
How long we can get this monthly reward? 6000/150 = 40 months / 3 years and 4 month?
Since we can't get back our initial capital, total return would be 3000/3000. 100% over 3 years, It's approximate 30% pa return...

Hi siliconwiper.com,
I have a question to ask you. We all pay RM3,000 and we will be getting back RM200 (RM50 voucher + RM150 cash) montly. Doesn't this mean they will be doing this at a loss? As you said, they will be giving out 20,000 pieces of membership, which means they will have to pay out a total of RM4,000,000 monthly. Does this make sense at all? What if they DO NOT pay after they realised it is too much to bear? With the current business of Steven's Corner, I even doubt it can make RM1,000,000 in a month, so what about RM4,000,000?

Since the 1st Steven's Tea Garden will only be available in July 2008. So current vouchers are in printed format and can be use in any Steven's Corner untill the 1st STG opens. Later all are in membership card form like Jusco Card were you can store data in it and food points will not expired as long as you an active members (dine in any Steven's Tea Garden with any amount on F&B and at least once in 3 mths time). Your Rm150 will be available in monthly basis when ever your an active members. No more condition attach only but the stamping agreement fees rm100 (1 time fees). Active members = loyal customer, only it is drafted in the Membership Agreements will be name as Active Member instead of loyal customer. The rm6k will be paid start from fixed rm150/mth for 24 mths and the remainder will be paid in full until the 5 years membership contract ends. So you get your rm6k in total. Well actually if you count by 300% return, then it'll be 100% is prepaid food, 100% capital, and cash return 100%. So is like you buy your food and get paid 200%.

---

Added on May 19, 2008, 8:53 pmWell the rm50 is your money anyway. just that they give you in food form and this is at their cost oh. and the rm150 is only 5% from your money also. So by mean mthly 5% out of the profit margin is more than enough to pay we all. You hv to count in total 100 outlet x rm15k daily sales x 30 days = 45,000,000 - 4,000,000 = 41,000,000.
I guess you misunderstand Steven's Corner with Steven's Tea Garden.Current SC sales approx. rm1.2mill and are family business. Mr.Steven the elder son join with 2nd and 3rd son Nathan,Ghunalan, are making STG a new mamak hit that bare the STEVEN'S brand name and will make our demand for local f&b creativeness to open 100 outlet and having 20,000members to help them to collect rm60million. Even if they need to payout rm60mil in 5 years or even the break even they still own 100 outlet after 5 years...man you can do the calculation what will they earn.
So to help them and for rewarding us, we all need to support them by dropping by the new STG with our frens and family. So they will be a good flow of new patrons to make business boom. So without customer like us, they can't make it..but if they pay me to eat and earn...just like what i'm doin now....well i might just earn few hundred thousand by then.....

This post has been edited by siliconwiper.com: May 19 2008, 08:53 PM

That is what I am saying, its a capital raising exercise. Which means they should either get SC's or BNM's permission to execute it. Do they have such certification to say that they are legally allowed to collect money from the public?
By the way, how sure are you that they have sales of RM1.2million a month? Are you sure that the new concept would bring in RM15k sales DAILY?
If you can convince us with these, I would be interested as well

well you can go check them out oh....they even make more than millions with only one Pandan Indah Steven Corner outlet on the World Cup time... so they are named million dollar mamak. rm15k sales can be calculated by 15,000/50 tables/20 hours = rm15 sales /hour....mmmm i guess they can easily make rm50/hours by their own membership and not included new customer yet.......does Jusco card reg. to Sc for collecting RM12 membership fees/year ? if yes then they already collect rm12*5yrs* 50000 members = 3 million ringgit ...wow...thats alot for a rm12 membership without food or anything....so as i already told you this are all legalise by their panel lawyers and it is not really a capital raising exersice since they can even open on their own only slower by 8 years perhaps.

Frankly speaking for a company with RM 54 m cash sales a year , most banks are keen to loan them money at 10% a year. Why need to raise capital with 10% return a month.

This post has been edited by SKY 1809: May 19 2008, 09:21 PM

From siliconwiper.com's previous post, it is stated that they are using "investors" money to open up the 100 outlets.
I am wondering also, but if it is used as a customer loyalty reward kind of thing, then I have no say

well this you should had ask Mr.Steven himself. loan got interest ma....hahah

---

Added on May 19, 2008, 9:33 pmwell as i say like old town kopitiam, they don't own the shop...they own the brand only...now STG they own all 100 outlet and after 5 years, they are all their for oversea franchising. Well bank are making money from our money too...we put FD's the invested it and pay back 3.5% while they earn extra 5% - 8% yearly....not bad huh

This post has been edited by siliconwiper.com: May 19 2008, 09:33 PM

Jordy, that's a valid point.

They may claim that their panel of lawyers has legalized everything, but ultimately, the onus is on each potential investor to conduct their own commercial, financial and legal due diligence on the investment.

Checking with the Securities Commission (SC) may be helpful in this respect.

You can lodge a query about a business (whether it's a capital-raising exercise) / ask for an investigation / file a complaint by completing the following form below and faxing or sending to the address below

Investor Affairs & Complaints Department
Securities Commission
No 3 Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur

Tel: 603 6204 8999
Fax: 603 6204 8991
E-mail: aduan@seccom.com.my

Fill it out best you can, and draw attention to the issue.

The more people report it, the higher up the priority chain it goes to for investigation.

SC has set up a specific target time period to respond to all queries, so do take advantage of this...

This post has been edited by Playbook: May 19 2008, 10:18 PM


Attached File(s)
 complaintsform.pdf ( 135.44k ) Number of downloads: 22

So, loan has interest and paying "investors" is not interest? RM150 is 5% a month, so they are paying interest of 60% a year. That is way way higher than paying the bank interest. Please do your research before saying it

One has to be loyal customer to entitle for the "interest"....