can someone tell me the update so far on this?

My cousin just told me bout this so called opportunity and as usual i am sceptical on it..

Before thinking of easy way of earning fast money, think LOGICALLY on why businesses don't fund their capital the traditional way, i.e loans, or the capital markets. Pls ignore all the typical MLM crap u always hear such as better publicity through word of mouth, lower interest rate, etc

And yes, as old and boring it seems, higher returns always commensurate with higher risk. But there is a difference between taking high risk and stupid risk such as investing in such unproven and dodgy schemes.

This post has been edited by andrewlimkn: Jul 11 2008, 02:01 AM

Silicon, may I ask why are u so aggressively promoting this scheme? U have some equity ownership or paid some fat commission to spin the story in cyberspace?

BTW I have seen one of the flyers too...even the English is written poorly. I find this unacceptable in this country (It may happen quite often in places like Japan/Korea but certainly not here). Even if you wanna con people into the scheme, moreover seek funding from investors, pls pay more to get a professional la.. even any student here can write better than that

And so what they gonna open in all those renowned shopping complexes? Guaranteed profits?

Anytime you guys wanna indulge in a get-rich quick scheme, just use ur common sense lah before getting too greedy. If i got such a blardy profitable and cash-flow rich business, why would I wanna share it with you (or pay multi-levels of commission for typical pyramid structures). I certainly can't see the benefit of having all the trouble, to get minuscule amounts of 3K from thousands of retail investors to invest in my project. Yes like all the other people, I do have the impression that Steven Corners has been making lot of money, judging from the people you see in their premises. But there is more to it than just that.

I don't see any other tycoons coming to us and offering fantastic investment opportunity for little risk and oh yeah, 'guaranteed' returns?
The most close to so called 'guaranteed' returns from a business that i hear of is the IPPs, that force Tenaga to buy the power whether it needs it or not at whatever cost of the raw materials. But that also because of the most ridiculous agreement ever signed and the prevalence of cronyism in the government. And now they are being taxed more. And oh yeah, not forgetting the FD rates you get if the bank don't go bust

If Genting or Berjaya Sports Toto or their IPP arms wanna do this, let me know, I will be the first one to sign up

This post has been edited by andrewlimkn: Jul 17 2008, 12:04 AM

spot on, chatwarrior

dude wake up la..they always make u think that u r sharing the money with your friends and families when essentially you are exploiting them by recruiting them as members and guess whose commission are you earning from? Yes theirs and they will do the same thing to their closest people. becoming a vicious cycle..isnt this sound so FAMILIAR? what people never think is you are in fact competitors with each other and the pie has a finite size and you are not sharing, you are in fact cannibalising each other. The one who cannibalise the most is the one devising this pyramid scheme at the top while you all indulge in the impossible fantasy of helping each other to become rich. A pyramid structure is not economically workable.

Oh yeah I think saw somewhere that says the lots can be convertible to shares upon listing. All i know is that the Securities Commission have to approve any type of SECURITIES issued and is this so? And an investment bank must do the submission for them. Who the heck is STG? If they cant produce this and by the mere mention of saying the lots can be converted is pure misrepresentation to the public.

Seriously if you expect me to put my money as investment, I would expect to see nothing less than a complete term sheet, the sort you would read in a Bursa annnouncements. Have u seen the level of detail an IPO prospectus has? They are there for a reason, and that also doesnt guarantee the listed company wont go bankrupt and your shares will become useless scrap paper.
and yes i work in the financial sector, i need to see hard numbers and professionally-done structures, not just mere colorful brochures and rhetoric bout how much money you can make, without u even knowing the business model.

If u guys still are so gullible and all u have is your mind is greed, then caveat emptor

Dude what are u talking bout..

Of course the bank will make use of your deposits to make money. If not why do they even bother to lend u money in the first place, its a business at the end. As long as the interest spread is positive, meaning the money they get from lending u money > money they pay out for deposits, they will make money. What differentiate between a bank and a Ah Long (which is quite similar to typical MLM schemes, distributing brochures with overpromising statements without any approvals) is REGULATIONS. True both lend u money for a certain charge but the other probably take ur head off if you default. Although Malaysian regulations standards are nothing to shout about, they exist to protect primarily the public especially those who are not so financial literate, which is funded using government money aka the people's money.

Who decides how much money to print is the central bank, aka Bank Negara and this is called MONETARY POLICY. Money supply dynamics has an effect on inflation, economic growth, interest rates, etc..Let's not even go to that macro level yet.

I suggest you read up on the principles of economics and finance before committing. Its useful if you wanna understand why pyramid schemes just doesn't work.

That doesnt mean you can't make money off MLM schemes. But it will not be sustainable, its unethical, and its just too risky coz they are exploiting people using a flawed business model.

haha what point are u trying to make with the video? good introduction for the not know-how but every first year economics student can tell u bout the multiplier effect of the banking system. Whether the banks are the biggest sharks or not, credit is vital for the economy and things will get very bad if banks don't lend out money anymore. Anyway you are drifting from the topic, I dont see the relationship between such a macro thing with a kuci mamak in the country. Then u might as well just go put ur money into Public Bank stock

First of all, notwithstanding this is a scam or not, having gone through old posts, I think chatwarrior has presented very good arguments and suspicions (kudos to him) which every investor should have in mind when conducting diligence on any investments. Whether you are just a mere messenger, member or even the owner of this scheme, you need to express your arguments clearly and more often you don't really exactly address and answer the questions/criticisms posed to you at all. You are conflicting yourself most of the time and in fact the one who is thinking inside the box instead. Its obvious that you are very adamant and anchored to your idea (well, maybe you have invested all ur life savings into it), desperately trying to save the idea but with refutable statements and refusing to accept any other views at all. Bottomline is, that you are not convincing enough and too simple minded to think that your explanation is sufficient to coax people in the WWW.

Reminds me of all the politicians we have now, waving the 'I DID NOT DO IT' magic wand everytime an accusation/criticism is thrown at them, giving lame duck statements without thinking and excuses which don't really explain anything at all. Even mainstream newspapers are not believable nowadays, and dude, it takes more to convince people than just this. You might not be interested in politics, but do read Raja Petra of Malaysia Today on how he present his arguments. Nothing to do with business, but u need to know what you talk bout

The conclusion is clear. I rest my case

This post has been edited by andrewlimkn: Jul 19 2008, 12:42 PM