You know what, most forumers here are most concern on this part because too good to be true. That's why people interest to find out.

Without viable in financial term to support the payout, it is not sustainable over the long run. <--- that's where people afraid of. Not because of the prepaid alone. Company needs to make enough profit to payout the 'prepaid membership reward'. But if company can make enough profit, why not take up bank loan to finance it, instead need to look for public to get the money? As calculated by other forumers, over 5 years, one can earn Rm6k from RM3k 'prepaid' translated into 20% p.a. while taking OD from banks is around BLR + 1% (less then 8%).

You know mentioned yourself, it is not logical to have Rm3K prepaid, then why not prepaid is like Rm50 or RM100, then better sense and logical?
If it is a prepaid of like Rm100, while with prepaid voucher, everytime spend it can get 10 or 20%, or pay Rm100 can get a preaid voucher like Rm120 to eat later, still make sense and people still more confidence with it and more willing to take up without much susceptibility.

Instead now the prepaid become something that can earn money one, people become more concern as there is no free lunch in the world, or there is no such a 'big frog hobble around the street'.
Something too good to be true will lead to more susceptibility for those well informed people out there, instead attracting them.

So if the prepaid is true then should be sincerely explain clearly to others, not the like a single line of 'if a company are willing to pay you for eating at their restaurant? OK?' then it is hard for others to understand. After all this thread is meant to have discussino in it and have clearer picture of it and truth behind it, right?


This post has been edited by cherroy: Jul 4 2008, 10:10 PM

The magazine that you had mentioned may not make this up, but do note that they are only reporting what was told to them. There is also the possibility of the person who had informed them of this is making this up.

Come to think of it, can you provide more information about this magazine that you had mentioned here. I'm curious enough about this case now to want to go and check out their article on this, and also wanting to check with them on exactly how much background investigation they had done to verify what they had been told before they had published the article.

the TNG is an example lah...buy now use later.

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Added on July 4, 2008, 10:27 pmthe total conversion from 3000 will become 9000food points basically and you can exchange all 9000 FP to become food monthly which approx. rm200 FP on average within this period 'or' you can exchange it into cash if you want as STG already paid you for being loyal. So even if it is 20% it has to be divided by 4 to 5 years so you can do the calculation what will you get each mth....

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Added on July 4, 2008, 10:31 pmi guess it is still between the member and Stg deals...or better still ask STG lawyer about it loh!

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Added on July 4, 2008, 10:41 pm-->>2) They are definitely taking public's money to expand their business. Nothing wrong about it but very wrong to use LIES and FUTURE projects to lure. (until today, Genting, Times Square, Mid-Valley have not confirmed yet, Pyramid is not ready yet). All past MLM scams have used suct tactics of "future projects and dreams" to lure members in.

1st of all i'd also told you Times Square can't proceed the tenancy, 2nd the MV could only issue offer later after San Fransisco and BreadStory end its tenancy end of November and the Last Genting are looking at suitable right lot...so i guess best check out whats written in the corporate journey business magazine as it is stated coming StG locations. So you call using LURED to make you trust they are true or scam? then how you explain Sunway Pyramid, y no never want to mention this? times will tell, you see after few open then you we talk again lo....

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Added on July 4, 2008, 10:47 pmwell it is true to all those who'd been assuming that what you believe is true..but the fact is it is so clear to me as a businessman we need to built branding with a large sum of AnP's monthly,yearly by any way from media to internet....so if they are paying 5% as an advertising fees for being loyal to make STG pack with customers,,just why not? even if you throw money into astro,my fm, bill boards and so on doesn't guarantee you gd result as now customer are smart and calculative. so they whole structure is down by them well to me it is just nice as a loyal customer...even for the past 11years, i'd spent more than rm3000 oh!

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Added on July 5, 2008, 1:31 amwell i agree with you, that they might have just made this up...well till date what's in progress since started was the HQ now are ready and then Sunway Pyramid is in even that few new location with is under nego..better not put it up yet..as sensitive ppl will think it is for manipulating ppl..so better not tell...so if you ask me...since the started it i'm here and from scratch and now so many had been implemented and yet this doesn't serve the viewers hunger for infos..as they are only able to presume and predict...i'm making life's easier here wer i'm a membership of this STG project and i'm getting my food vouchers for the 2nd mth now and enjoying a small portion for advertising purposes....by just dine in. that's all and it became something very big issue here? And the magazine name is Corporate Journey from April till June, if you can get all but at least get the June issue,..mmm well July's coming out now. What i need to tell is all in the Mag....you'd had to check it out urself...

This post has been edited by siliconwiper.com: Jul 5 2008, 01:35 AM

Ok, let summarise a bit.

If there is no legal issue (I still think not fully clarify because of the 'prepaid membership' return issue). Whether they are running behind a MLM money game or not, we don't know.
Siliconwiper.com said no, while Chatwarrior said might be.

Possibility :
1) So if is is a MLM money game with legitimate business, then it can close shop after taking in RM3k 'prepaid membership' after there is no newcomers or late comers to support the money game. Businesses wise won't care much, as it can be a platform to make the company legitmate while secretive running money on behind. There are some might be running this way (one claimed to be a big company, S**), as recently being investigated by Securities Commission as reported. Having legitimate business might not mean they are not running MLM money game behind, as above mentioned.

2) It is a legitmate business with legitimate 'prepaid membership'.
It become some sort like instead taking out own money to invest in opening branches, with the 'prepaid membership' scheme, STG is taking advantage of using public money (Rm3K 'prepaid membership') as their capital which is quite a clever move. As STG shift the risk from their own to public. While with 'prepaid', they at least secure some customers to come to eat. <-- secure some customers base.

So even STG business won't be good and no profitable and eventually close shop, what they loss won't be totally on their own money as some are from the public money already. As once STG closed shop, so does those 'prepaid' amount, nowhere to use those prepaid (3k) anymore, right? STG and Steven Corner's are separate entity, so Steven Corner's won't bare any liability of STG.
But if business is good and highly profitable, 'prepaid members' being rewarded. <-- this issue hasn't properly and fully clear in term of legal issue (if it is not investment, then how to classify something prepaid that can yield return)
It is a very clever move, STG has shift the business risk to the 'prepaid members'

Above is the possibility in this issue that I can observed based on information posted. Not mean to comment on STG whether it is or not.
Judge you own and 'prepaid' with your own risk.

This post has been edited by cherroy: Jul 5 2008, 10:46 AM

So there is a purpose behind the purpose.

STG is set up as a new entity. As far as risk is concerned, is separated from the parent co. This is to protect the parent co if the new venture ( STG) fails. But Brand name of parent is borrowed and closely linked. As far as legal entity and issues, they are separated.

The parent co would want to list STG in Bursa ( for public money ) if possible, but it cannot qualify for it.

And parent co still wants the money from the public, so a scheme is designed a such a way it does not have to comply with SC or BNM. MLM 's concept is adopted but they do away with it in black and white.

Finally, they need to add some incentives to members, so eat and you get paid ( taking advantage of our culture ).

I would not say the designer's scheme would work or would not work, but just pointing out the intentions they might have.

P/S : read moderator's statements whether scheme would work or not.

Judge your own. And think before you eat ( need to sign an agreement )

This post has been edited by SKY 1809: Jul 5 2008, 11:43 PM

I found something worth thinking from this thread:

I think 20% "profit" per annum is "a great business" although I am not a businessman.

Question: Why not getting bank loan straightaway to avoid all the fuss?

Possible Answer:
1. Bank loan is not possible ? Why?
2. To gain more publicity ? Why RM3K? - it's not a small amount and may be backfired
3. Because it is "responsible-less" (if anything wrong with the business, just "cabut" - well, there is such a "possibility")
4. < open to opinion >

Too bad. My elder brother is at hometown (not quite far from KL) and has little knowledge on what's happening around. That's the main reason he asked for my opinion.

He told me the plan is about RM3K investment with RM150 return per month (for each RM3K investment) for 5 years (~RM9K after 5 years). He was told it's about Steven's Corner. That's the information he has.

Yes, I know my elder brother is ill-informed but I think his other friends are not any better.

This post has been edited by kimhoong: Jul 5 2008, 04:00 PM

" Question: Why not getting bank loan straightaway to avoid all the fuss?"

I try to answer this Q on behalf of S omeone...............

STG is a fairly new set up co, and banks normally do not lend to new co without so called track records. However, if Steven Corner is be to become the guarantor for STG , then there is a chance for STG to get a bank loan.

But if Steven Corner needs to a guarantor. then what is the point to set up STG ? We may as well use Steven Corner Brand name and entity to expand our businesses . After all, Steven Corner is still liable to pay back the loan if STG fails. Steven Corner needs to pay bank interest also.

It is why , we do not need a bank loan.

Correct me if I am wrong.

This post has been edited by SKY 1809: Jul 5 2008, 11:37 PM

My Question and Possible Answers were meant to reflect the possible reasons why they do not go for typical BANK LOAN. Why do I so? Because it sounds fishy that they are doing what they are doing INSTEAD of getting a bank loan for "proper" business startup.

Mobile Wallet close shop already?

After you mentioned Mobile Wallet, I remind back some of the MW issue discussed before. Err... STG issue is quite similar to it though. Also got prepaid then get return rate afterwards one.
Don't mean to comment much on STG. Better let Siliconwiper or other familiar with it to comment. I am just an outsiders that are curious and for the best of interest of public, try to find out the actual and exact thing that is happening.

I remembered once some forumers also strongly promoting those scheme (MW) also. But I can't find anything (regarding the prepaid/investment) from the legitimate official website, but the forumers said the scheme so complicated until they didn't put in the website, and ask people come and see yourself.

yup...I remembered about the MW thingy...happened few years ago....It was lucky that I was too fresh to join such scheme at that time.

1) Can anyone explain what is MLM and Money Game? is it same or both different thing?
Well whether you gonna introduce or not, you'll be getting your advert food points mthly.
2) Frankly, if not mistaken STG had requested bank loan before the whole thing started also...and yes it is approved and the loan amounted to RM 10million for the project.
Well since the 1st STG will only be ready End of July,,,,the Food Voucher are used in any STeven's Corner anyway even in some way they are still attach to each other.

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Added on July 5, 2008, 11:42 pmwell the above is still a assumed purpose right?

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Added on July 5, 2008, 11:51 pmnow some might think chatwarrior is siliconwiper.com now b'coz chatwarrior will made up some questions and then siliconwiper.com himself answer it and make it like a debate to make hits for the forum.....what a script ...lol...well now i don;t even need to answers questions as chatwarrior already become me..hahahah.......Hey ? i'd give you the reason why those other 3 places is not ON yet ..right?
Yeah,,,chat...i totally agree with your example from IPC, SUNSHINE, bla bla bla.....well i'm pity for you if you'd lost money due to greed...and of course you;d learnt from that...anyway if you say it is same, then even i say anythinng it'll the same to you....Time will tell.....and then another thing...pls don;t discuss the MLM thingy here as we are not allowed .....i'm thinking back if this gonna be MLM well i guess it might just work...like Amway, cosway, they made it right...as least we can confirm the medium works.

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Added on July 6, 2008, 12:01 amKimhoong,
1) getting bank loan doesn't mean STG can't use loyal customer strategies.
2) getting publicity is not about the 3k is about how often can members visit the STG outlet to make it a huge crowd. As a business minded, locking your customer for 5 years is a great move.
3) Stg responsibility is to open STG outlet and to secure the biz by offering membership and not to take M n cabut,,,if want cabut better put the figure bigger lo... like mth advert fees rm500 instead of rm150.
4) mmm...ask other which is not in this forum, ask business ppl better. see wat opinion they give you., as business ppl think in other way than normal average non business ppl.

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Added on July 6, 2008, 12:02 amalready get loan.

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Added on July 6, 2008, 12:07 ami'll try to answer you this...STG open rest. earn average profit of 50% and then throw out 5% to thank us. so is that simple? MW ...mmm is there a real business running everyday or is it getting more member in to pay uplines? if they can make a hefty daily sales, i guess they can pay as what they promised (is it writtin in B&W anyway?) So if STG outlets can earn more then 5%/mth well it is safe.

This post has been edited by siliconwiper.com: Jul 6 2008, 12:07 AM

No, Steven's Corner accepts those prepaid voucher doesn't mean they are attached in term of company law/liability issue. Please don't confuse people out there. It has nothing to do with the company entity in term of law. Please separate out these 2 entity so that people have a clearer view, otherwise it can be very confusing for those not familiar with company law. Just like you said before, the contract stamped by lawyer is between 'prepaid member' and STG only. It has nothing to do with Steven Corner's.

1) yes, fair enough
2) no problem with that
3) nothing to comment, no business is guaranteed to be success, once business can sustain itself, then even legitimate and sincere business also need to close shop.
4) I am a business people as well.

Then STG hasn't opened a single store yet, so how bank can approve a 10 millions loan? Steven Corners is the guarantor? or STG already has substantial assets to be a collateral for getting the 10 millions loan? Banks won't loan a company without anything in hand as collateral, right? or a turstfulness of a guarantor. We are not talking of RM10K but 10 millions.

Another link to the loan issue, if indeed got 10 millions loan so with Rm3,000 'prepaid membership', once they can get around 3 thousand plus 'prepaid membership', then the whole company risk has been transferred to the 'prepaid member' already. That's where I said before, this move is very clever in term of or in the view of STG management.

Another issue, why 10 millions? only one shop will be opened in near future, need 10 millions already? For loan like OD, you don't apply too much that you are not going to use because those unused OD will be charged on commitment fee (around 1% interest on those unused OD applied).

Yes, but it become a grey area of investment return already, need a lawyer to debate whether it is prepaid ot investment already.
That's also the primary risk (if the prepaid membership is true, besides whether it is true or not), no business is guaranteed to make money one especially for those newly set-up one.

This post has been edited by cherroy: Jul 6 2008, 07:27 AM

" Frankly, if not mistaken STG had requested bank loan before the whole thing started also...and yes it is approved and the loan amounted to RM 10million for the project."

Earlier about a month ago, he, Sillicon explained to Jordy that STG was not taking any loan bcos the management does not want to pay for the bank interest.

Jordy did ask S that the payment to members from eat and pay , could be much higher than Loan Interest.

So his above statement did contradict what he said about a month ago. Which version shall we believe ?. Perhaps he needs to make a SD to confirm.

I believe, likewise the promise given ( on the payment ) to members could change too in future.

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Added on July 6, 2008, 8:07 am" So there is a purpose behind the purpose.

STG is set up as a new entity. As far as risk is concerned, is separated from the parent co. This is to protect the parent co if the new venture ( STG) fails. But Brand name of parent is borrowed and closely linked. As far as legal entity and issues, they are separated.

The parent co would want to list STG in Bursa ( for public money ) if possible, but it cannot qualify for it.

And parent co still wants the money from the public, so a scheme is designed such a way it does not have to comply with SC or BNM. MLM 's concept is adopted but they do away with it in black and white.

Finally, they need to add some incentives to members, so eat and you get paid ( taking advantage of our culture ).

I would not say the designer's scheme would work or would not work, but just pointing out the intentions they might have.

P/S : read moderator's statements whether scheme would work or not.

Judge your own. And think before you eat ( need to sign an agreement )
*"
______________________________________________________________

Q by S: well the above is still a assumed purpose right?

My reply to Silicon :

Yes, I am making assumptions. The HongKong's police is using this method to probe their suspects.

Result : One thing I find from you is you do not have ideas on Steven Corner/STG 's fianancials, and each time, you too making assumptions when answering to the forumers.

This post has been edited by SKY 1809: Jul 6 2008, 08:45 AM

assumption is always right...but the truth is with STG, well it might has just work the other way...i'm just a member and we are not the owner, so if some individual shall need more infos, they should had meet the ceo and some more they are no recruitment here just a sharing...always welcome to warn anyone but pls don;t condemn. We must look forward like korean where supporting local brand help countries economy and international competitiveness. Malaysia has to support more on local brand than foreign brand...

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Added on July 6, 2008, 12:53 pmi only update what i'd inform from time to time...well even referring to the loan part, it is you guys that ask Why not loan? and then now they get loan and you ask me why? well i'd already told you guys, i'm not the owner, i'm just a forumers who share something interesting here...well and it gets interested now.. so in the end of the day....it is just a situation we are discussing here and if you ask me...some Q can we answered and some it is up to you to ask the owner....by the way, i as a members eat and get my reward that's all....if i'm pushin u to join then it is my problem...when i'm sharing here,it is up to you to judge....so the updates are base on my current infos too...anyway life are full of uncertainty even in corp. and business, things do change from time to time and of course if only your not willing to do so for all the members. Well my food point are definitely on time and i'm satisfied with it till date...and i'll just stick to what updates will come soon....don;t shoot the messenger....thank you.

This post has been edited by siliconwiper.com: Jul 6 2008, 12:53 PM

STG is what it is a...no need to discuss...experience people can see through that

Chatwarrior,
Di you saw my name in STG BOD? wow, since when i became boss there....if you ask me if i'm a boss or not ..well i can tell ya , yes i owned companies that run in malaysia for few years now but of course it got nothing to do with STG..even if i'm the boss,i don't think i'll be posting the thread here as no one will appreciated it anyway so i better off for holiday instead of looking at your questions/ or should i say it is not even a question it is more like personal attack now. since you'd most probably think i'm a scam boss so do you think i'm still here to answer you all??? crazy fella if i'm gonna do so......

well no one ask you to come by at the first place, your welcome to leave and come what ever time you like it is open thread...so now you even try to sell MLM license here, what a smart move to make mess and sell license.

who are you anyway....an insider of other MLM or from other competitors which did not make it and come to hack other ppl's thread??

oh, and another thing....i'm free to post as long as the admin is ok with the thread..so i'll post this what ever place i can.and that's include with my nick chrisolution....thks for asking.

This post has been edited by siliconwiper.com: Jul 7 2008, 12:16 PM

so seem so sure that i'm the boss and i don;t even know where the heck you get this infos...if your so sure why not i we put in an amount for that,,,,dare? yes? or no? even your here you help the threat to jump and even you leave i got nothing to loose and pls don't join any of the STG members if you rely solely on my posting please...there are many kinds of scam and con around and even ppl who not join will tell you we scam and con....so be cautious and ask expert regarding the project....never believe what you see here is true....well at least ask chatwarrior he got many idea and imaginations.....

so how are u dare? let me know if your so darn sure i'm the boss....youd been tellin ppl with your own creativeness but without facts...it is time to let you know your a con too when you start saying something which is not true....so am i the boss or not? mr. chat......

come on guys, chill...this discussion and debate has slowly turned into a flame.... Nothing personal here, brothers. perosnal issues included some unrealistic and illogistic reply which has no effect on the current topic.

Chat,

but..none of us are putting our photo here. So, to be fair, we can't based on that to say Silicon is a Con, can we?

Whats the WORSE that could happen if the sceptics (like chat) said untrue stuff and become a "con" . We won't lose $$$$ from that, only lose trust from that person. Why would that person wanna to great lengths to disprove you? did he earned $$$$ from that ?

You are different, you are trying hard to defend your "business",. because if you really manage to pull through, you gain $$$$ . But IF whatever you tried to defend here if proven to be CON, hahaha..... alot of ppl's $$$$ lost already. conners wont care about trust.

Anyway, serious and sincere businessperson usually won't mind showing his face to everybody. This is because he has nothing to hide, and if whatever he do really can benefit others by good returns of investment, he'll be much happy to let others see his mugshot and remember him (for promotional purpose mer).

Only scammers are very tactful about disclosing too much of his personal info to the public for fear of backlash. It's a no brainer.