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 Steven's Corner Brand New Look, what if it looks like coffee bean?

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cherroy
post Aug 13 2008, 02:29 PM

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QUOTE(siliconwiper.com @ Aug 13 2008, 02:25 PM)
yeah..did u put in? or will u put in? u just ask for the purpose of asking and not bcoz ur really concern about others...if u can generous enough pls. help them by explore the whole thing of STG and not keep on doin this to the thread or me too...u think i earn from posting....just do what ever u guys like lah coz i'll be on holiday anyway....see u all next week....chow...
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There is nothing personal, those previously post (on my side) just help people to know and explore every details of it and fully clear about it.

Isn't it this is purpose of this thread? rclxub.gif

Anyway, have a nice holiday then.

This post has been edited by cherroy: Aug 13 2008, 02:31 PM
cherroy
post Aug 13 2008, 03:47 PM

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QUOTE(chatwarrior @ Aug 13 2008, 02:53 PM)
You are right. If you do some calculations, such scheme can NEVER sustain too long. It must close at a point when they are no more people joining in. The day comes when they have to pay back every investor every month and less money to collect from new investors, they will run away or strop the scheme. Such schemes work only in the beginning when monies collected from the new members are more than they need to pay the old members.

The profit made from the cafe is definitely not enough to pay back the investors,. It is just a smokescreen for the scheme.

BTW, it is not a matter of legitimate or not in such schemes. All businesses in Malaysia are legal UNTIL they are being stopped. By argueing on the legality of the scheme, the operators will take advantage of it to promote. You know what they have been telling their propects ?

"If this scheme is not legal, how could we get a business license ?"
"You think Sunway Pyramid which is so big and reputable will lease out to an illegal buiusiness ?"
"Some people already notified the SC, if we are illegal, do you think we are still here ?"

So the point is not whether it is legal or not. The point is how long will it last and who will be the victims.

Mobil Wallet, SwissCash, Sunshine Empire and Seaweek venture have all disappeared or have their conditions changed so that they need not pay the investors anymore.


Added on August 13, 2008, 3:18 pm

I begin to wonder if you are actually helping him to promote or not.  rclxub.gif

I think fyire did a better job.
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LOL, Me helping him to promote? you must be joking.
One of moderator job is to work out and guide people into the discussion points.
I just want work out something on this thread, don't want to see this thread become personal confrontation. It won't benefit to all. By asking those question, people will find out more the truth behind it, right?

The point I always stress of the legality side, is that any company can be a legal registered company (it is not hard to set up a legal compay), but it is illegal to take in money from public for investment without BNM/Securities Commission approval. Still in term of company, it is legal but running on public money without approval, then this part is illegal.
There is a list of company in Malaysia that can offer public for investment, others than those, it is deem illegal to do so in Malaysia.
There is the distinct difference and the point I want to make and always stress on legal part. Sunshine empire, Swisscash and those scam offer public investment scheme never ever been in the SC approval list before.

This post has been edited by cherroy: Aug 13 2008, 03:50 PM
cherroy
post Oct 20 2008, 11:24 AM

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QUOTE(happy4ever @ Oct 18 2008, 02:00 PM)
On the contrary, it serves to educate the public on the pitfalls of this shabby company
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QUOTE(siliconwiper.com @ Oct 20 2008, 07:43 AM)
how can a thing fall if it didn't fall ? it is kicking harder than before....business in SUnway is getting even better now....operation time starts from 8am - 2am daily.....
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Pitfall ≠ fall sweat.gif



cherroy
post Oct 27 2008, 11:10 AM

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QUOTE(siliconwiper.com @ Oct 27 2008, 11:03 AM)
i really can't stop you to think this is an investment no matter how you have it...But may i know if it turns out not to be SCAM then will we get some positive supports from out fellow Malaysian that mainly support foreign brands and let out money flow out. So i guess i'll stick here to updates progress and you guys can always support morally even you dun really dine in or buy any packages...BUT PLS. dun just shoot like you already know the future. You dun like the way i talk, i dun even like the way you treat us too. to be matter of facts damaging other ppls goodwill will only get them in trouble i guess better go get a very good lawyer then.
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Gosh,
Use hard-earned money to try out, if it turns out not to be scam, shocking.gif I salute the bravery side. sweat.gif
cherroy
post Oct 27 2008, 11:23 AM

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fyire,
for legibility issue, it is not a straight forwards answer, as this kind 'membership' program, or prepaid or whatever, it could be using the loopholes of existing regulations which you need professional lawyer to prove which way it is. There is grey area of it.

1. MLM -- they can claim it is not MLM. You need KHPDN license to do it.

2. Prepaid - they can claim it is not prepaid. You need BNM/BAFIA before can start a public prepaid programme.

3. Investment scheme - they can claim it is not an investment (but this scheme has a lot of feature on it). You need SC approval

4. Membership - it is not a pure membership program as where got membership program got return rate one. Membership programme normally entitle to use the company facility, enjoy priviledge or discount only.

5. It is not a joint investment programme, because under the membership, one is not the shareholder of the company, one doesn't entitle the profit made by company. So whether company earns millions also not a business for those joining the membership/prepaid scheme.
Actually, it is much better to join as shareholder as compared to 'prepaid scheme' as you own the company actually if one really feel good about the company or seeing it has good future.

cherroy
post Oct 27 2008, 03:17 PM

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QUOTE(fyire @ Oct 27 2008, 02:04 PM)
Well, this is where it gets rather messy indeed. Seeing that its not claimed to be any of those, it also means that there is pretty much no regulation on it too. Of which pretty much messes up consumer protection.
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People are always "innovative" nowadays.

Consumers need to learn and educate themselves about it and I find this thread is actually educating a lot of people, how a "membership" or prepaid scheme or whatever name you call it that can be set up for purposes.

It is very similar to MW thread as well.

Do remember, none of website (including their own website as posted by most forumers) and public media do state about the availability and details about the scheme either, if not mistaken.

Do you know what I notice lately from many threads around about some 'investment' thread, there is one similarity in most of them, identical feature would be, they always give 3% monthly reward or return rate (36% annually) , from this thread, to gold investment thread as well.
3% is like magical number now. biggrin.gif

cherroy
post Nov 1 2008, 09:41 AM

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QUOTE(siliconwiper.com @ Nov 1 2008, 12:39 AM)
3. Helping young ppl to venture into business with minimal capital and avoid pitfalls. any problem? aren't v in a business thread after all???
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We had discussed 345329 times already, that by joning the 'membership' or 'prepaid scheme', one doesn't venture into business or whatsoever, as you are not the shareholder of the company.
It is just a prepaid programme, that paid you the 'rewards' program as stated by fellow member.
Even company makes billions, members won't be sharing a piece of it, this is not joining business at all.

How many times we have to explain it?

By the way, do you know the meaning of pitfall in the first place?

If one is joining the company as shareholder, one can say he/she joining the company, otherwise it is not, company issue doesn't have anything to do with those kind of membership program.

Hai, this thread is being twisted here and there, round and round. shakehead.gif

This post has been edited by cherroy: Nov 1 2008, 09:42 AM

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