The source of my posting is from the Guardian website: Don't bank on this land for making a profit
http://www.guardian.co.uk/money/2009/feb/21/capital-letters
I asked the lawyer of Profitable Group if they had written to the Guardian to correct the untruths. They have not replied to me.
Here are more information on this subject matter. You can make your own judgement.
21 comments:
I'm with you. If it looks like a duck, and walks like a duck, and talks like a duck then its a duck. Even if a marketing department calls their duck a strategic amazing investment golden goose.
Mr Tan, You have my support!
Lets see if they dare to blow up regarding this matter.
Where the hell is MAS doing what we need them!!!
We are producing more lawyers now (Straits Times, 15 Oct, page B1).
With more lawyers being produced at a cheaper, better and faster rate ... we should have no problems putting all these "alternative" investment under the legal microscope.
The other alternative is to produce better, faster and cheaper regulators .... so we don't need so many lawyers in the first place.
"Where the hell is MAS doing what we need them!!!"
MAS is waiting for approval from the top. They also know that the top owns DBS. So once the circle is form, the unspoken rule is "own people, home team", no need to investigate. If too many people complaint or politically getting too hot, create a statistically confusing report or like MOE on AWARE case, say "no complaint from the public", sweep problem under the carpet. Then write a biography of somebody or a book about the party, pay money for publicity in the controlled media and Singaporeans will vote them in again. No problem, it is all in the tricks & tips handbook.
Hi Mr. Tan
Why did you withdraw your blog? Are you a coward?
What are you going to do with the defamatory statements in the Profitable Group website that are attacking you personally? Will you sue them?
Did you do any research before you post the article?
Hmm an anonymous poster asks are you a "Are you a coward?"
I find Mr Tans site to be a voice of reason and common sense. Have Profitable Group or any Land Banking company converted any of their sites for building on in the many years that they have been operating. I believe the answer to that question is no and I think it would be better for Profitable Group to explain to their investors how they will get a return rather than using lawyers to attack those who ask very reasonable questions.
Mr Anon 16 Oct 11:59am -
Please provide link on profitable Group website to substantiate your claim that the group is attacking Mr Tan Personally.
I can't find any evidence of this attack.
They removed the post:)
They have removed the link already.
Since the MAS and the "You know Who" did lots of NATO and leaving the Notes investors on their own, we have to protect ourselves. The TKL site is a means for us to understand or at least appreciate those risky products that are in the market. As for the case of PG, the accusation of "a-get-rick-quick scheme" was fired off when a Singaporean ask them a Land Bank question at guardian.co.uk. Given feedback from the public heartlanders' who were also burnt by such scheme, it is only right for TKL to flag this up for us to take note. If PG has nothing to hid, just lay down the facts and clear the air. One should not get personal and TKL is only alerting the public. As whether we, the investors will buy from PG, I can only say it is for PG to behave like a professional and not attacking TKL personality. If this is another fraud like MB or HN5, how would we feel if PG disappeared with all the investors money like Sunshine Empire while TKL did not even flag it up for discussion. Wonder why PG is not disputing guardian.co.uk publication? Maybe the law there is tougher to CON then in Sgp as Sgp MAS is pro-pro-pro-pro-pro business while drawing millions in salary from tax payers.
Profitable Group removed the post? Someone blinked first? :) I support you , Mr Tan!
Be realistic, if 10,000 Lehman investors can be swept aside, do you seriously think your plight will be any different? Dont forget their own Town council was left to drown.
news posted by the Profitable Group --> this website is erased, gone, disappeared.
What does it means if TKL did not even sue them?
They are sueing TKL?
or They realized Guardian is speaking the truth?
or They realized they cannot do anything as TKL is just doing the right thing by alerting us about such potential TOXIC scheme?
Whichever the case, PG must standup and convince the buying public that Guardian is writing untruth about them. MAS should pay attention to this possible scam before more money are pumped in by retail investors.
If this thing gets blow up and MAS react by saying they cannot MICROMANAGE, it will be another huge embrassement to the MAS top two millionaires.
You can see the Profitable Group article in the google cache here for a few days
Interesting question, why did Profitable Plots suddenly become Profitable Group in the first place? :)
"As far as the Profitable Group is concerned, we have many clients who have enjoyed returns from the products they purchased from us."
I suspect any Profitable Clients who have made money have done so from commissions earned by selling products onto other family and friends.
It would be reasonable for Profitable to produce an investor who has obtained any profit from an investment in their UK Land products.
Hi all!
Just curious....if the Boron Investment that PG is selling falls under Ponzi scheme???
12.5% in 6 months. But they have no contracts with any large coporate users for the Boron products.....as they are evasive when asked.
Dear all,
I had invested with PP few years ago.PP had pay me as agreed until last year sep, PP was unable to pay me back as promised.
May i know where can i seek help?
Contact a lawyer and contact the CAD
I read your blog with interest. You are completly correct. I have information to support that this is a total scam. They are behind on paying their clients monies due and are making all their staff redundant soon. The company is in trouble. If you have money in the company you must GET IT OUT - QUICK!!
Amazed that the company survives. I looked at their new "water product" - essentially a dehumidifier with a filter. They claim it costs US2cent a litre (DEPENDING ON ELECTRICITY RATES). Let's do some maths.
Their AWG-C250 produces 250Litres of water per day with a 5kW output. Therefore the cost per litre in Singapore would be:-
0.2536 (S$/kWh - domestic rate) X 5kW X 24hrs / 250 = SG$0.122/litre or S$ 122 / m3.
PUB rate for water SG$ 5.4 / m3 after waterborne fee, conservation tax and GST. mmmm
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