QUOTE(siliconwiper.com @ May 23 2008, 03:07 PM)
no free lunch my fren..it is a prepaid food membership..meaning...every mth they will give me rm50 Food vouchers (prepaid by myself) for dine in and they will pay me rm150/mth up to rm6000 between 5 years time....
QUOTE(Haruji Sora @ May 26 2008, 05:43 PM)
Well according to the website, it is very simple maths.
You pay upfront RM3000.
Every month you're elligible to earn 200 points, with a cap of 9000 points in total for the lifetime
Up to 75% of the points can be converted to the cash, the remaining will be converted to Food Vouchers.
Means techincally, you can redeem up to RM150 (75% of 200 points) and RM50 for food voucher per month.
With a 9000 point cap, you redeem every month 200 points, it will take around 45 months (which is close to 4 years) to hit the 9k point limit.
Provided they let you redeem max 75% every month, which is RM150.
RM150 * 45 months = RM6750
Means in the 45 months time to come, you will get back around RM6750 in cash, and RM2250 in food voucher.
Well, I am not a member
Cause i seldom eat out LOL.
Ok, let's me reframe all things together:
Some of the issues are explained by other forumers:
So STG or as Siliconwiper explained :
1) it is not an investment.
2) it is not a prepaid
3) but it is a prepaid membership. As claimed prepaid membership is not as same with prepaid scheme for public.
That's true, prepaid membership is not same as public prepaid, nice loophole. If offer to member, then can get rid of public issue. Something grey area that let lawyer to tackle on this. Don't get me wrong here, as long thing/issue is not violating the law, then on paper everything is fine.
So your prepaid membership of RM3,000 can become Rm6,000 (in cash? or voucher?) So if it is a cash, the STG need to generate 100% profit in 5 years time, that's mean 20% p.a. which Warren Buffet also can't guarantee their shareholders this kind of return rate. Err... STG guarantee it in the contract clause? I don't know and clear about, that's why I ask.
So if RM3,000 can become Rm6,000 cash (if it is in cash), (if it is only in food voucher different story), then this is not classified as investment? Then what should we called it?
Cheers This post has been edited by cherroy: Jul 4 2008, 02:00 PM