Channel NewsAsia interviewed me for a story on land banking. It will be telecast on Sunday 18 April, 9.30 pm. A staff of a land banking company has also said that the boss of that company has also be interviewed.
There is a news on an alert on a new timeshare. I read a line where CASE's Exec Director Seah Seng Choon said that IF it received more complaints it would consider taking legal action under the Consumer Protection Fair Trading Act. This is a perfect example of how protection of public interest is near zero in Spore. I mean you will take action only if you receive enough complaints??? Shouldn't you take action right away since it is already flagged as potential scam? Where is the consumer protection?
can someone record the interview and put on you tube ? I am not in singapore next week but would very much like to see this item. Perhaps CNA can also explain why channel news asia ran 3 months of adverts from a land banking company in 2008 estimating returns of 250% in 3 years, when even a simple web search would have revealed such returns were impossible, that uk land banking plot investments are highly likely to be scams, and that the company concerned was being investigated by malaysian authorities.
I am afraid this is exactly the type of mentality our leaders has these days.
The ruling party knows that the sentiment of the masses is getting angrier but I think they will not listen and will dismiss it as the usual singaporeans compliant habits . Perhaps the miw is thinking "wait until we loss 3 GRCs then we look into it."
Is there a date for this story ? I hope it is able to show some teeth. There really is no investigative journalism in singapore.
When more is spent on advertising, marketing, or even lawyers fees than investor returns then it is almost certain that a scam exists especially when any investor returns are just the minimum necessary to ensure that other investors keep investing. But will any singapore media organisation bite the hand that feeds it or incur the wrath of a well funded lawyer?
"...At least our local media is doing something finally..."
Knowing what our local msm is like, I say let's watch what is the edited version of the telecast on this Sunday. Mr Tan KL can update on this blog and keep us updated if there is any major distortion or misrepresentation of his view from the programme.
Hmm, so it's the CNA Money Mind on this Sunday night.
I suspect they will edit it so that at the end of the day, the conclusion is that landbanking is a valid alternative investment, but potential investors are reminded to do their own due diligence. Not sure whether the host, Melvin Yong, will even say loud loud that landbanking, among many other so called alternative investments, are completely unregulated in Singapore, therefore can be marketed and "advised" by amateurs and salesman, and completely none of MAS business.
It's like you go to Toys'R'Us and say that you are investing in collectibles and objets d'art. The difference is that at most you lose $100 and still get to play with the toy.
I haven't come across any local production that do a really critical and no-holds-barred current affairs programme or documentary. Unlike those in UK and Australia that I've managed to watch.
Maybe we should reserve our comments until we watch the show. I am hoping TKL blog has help to convince CNA that land banking is a bad scam and people are hurting.
I also hope to see responsible journalism and present the issue fairly i.e. interview between the company and the victims.
Mr Tan, I hope the programme will have Malay subtitles, or even better, dubbed in Malay.
There is at present a Land-banking firm targetting the Malay-Muslim community. However, it claims to be a `Land investment' company. It was featured recently in the Malay papers, over its controversial offer of minor pilgrimage to those attending its presentations. The risks of land banking itself was not a major issue in the controversy.
I believe its ventures concern land bought in India.
Landbanking is all about Land Holdings for a specified period of time and to my investment experiencs as summarised:
Canada lands have shown proven exits to investors.
UK or British lands are mostly invested in the GreenBelts that caught many investors in a wild goose chase!with no hope of ever seeing their land exit plan?
Singapore lands are all held mostly by HDB & Corporate Big boys so no opportunity for such investments for private investors.
In my own opinion, saying that Landbanking is a scam is akin to saying the bank is also scammers since some people also lost their money with banks. Why generalise the whole investment? Bad business that overpromise and under-deliver is everywhere.
So why not let us all take out the money from the banks and put into the Milo tins?
Do your own due diligence people! While you are being skeptical, there are already a good lot of investors reaping returns on Canadian lands with Walton! I lost money with UK land and my mother collected returns on her Canadian lands, so I am still going to put my money where i see track records!
Mr. Tan,
ReplyDeleteLandBanking issue is getting hot these days!
May I know the date & time so that I can notify all my friends about this interesting topic once and for all.
There is a news on an alert on a new timeshare. I read a line where CASE's Exec Director Seah Seng Choon said that IF it received more complaints it would consider taking legal action under the Consumer Protection Fair Trading Act. This is a perfect example of how protection of public interest is near zero in Spore. I mean you will take action only if you receive enough complaints??? Shouldn't you take action right away since it is already flagged as potential scam? Where is the consumer protection?
ReplyDeleteI am waiting for CNA to tell me the time of broadcast.
ReplyDeleteYes, I was amazed to Read what was spewed by CASE, "IF there is more complaints". WHAT??,ONE is already one too many, Mr Seah/(Siow)!
ReplyDeleteDear 9:58am
ReplyDeleteYou put the finger right on the problem.
Brings the term "Singapore IDLE" to a whole new level!!
By that type of logic, so maybe I can physically abuse my wife one or two times and it's okay. Police will not take any action.
If I beat my wife up 12 times, and thereby exceeding an arbitrary set limit on the number beatings, then and only then police will arrest me.
Tan Kin Lian's earlier posting pointed out that the key is whether it's right or wrong. That should be the only criteria.
Wah Lau eh! What type of leadership is this?
can someone record the interview and put on you tube ? I am not in singapore next week but would very much like to see this item. Perhaps CNA can also explain why channel news asia ran 3 months of adverts from a land banking company in 2008 estimating returns of 250% in 3 years, when even a simple web search would have revealed such returns were impossible, that uk land banking plot investments are highly likely to be scams, and that the company concerned was being investigated by malaysian authorities.
ReplyDeleteTo Anonymous @ 9.08pm,
ReplyDelete"Wah Lau eh! What type of leadership is this?"
I am afraid this is exactly the type of mentality our leaders has these days.
The ruling party knows that the sentiment of the masses is getting angrier but I think they will not listen and will dismiss it as the usual singaporeans compliant habits . Perhaps the miw is thinking "wait until we loss 3 GRCs then we look into it."
Merlion
Dear Mr. Tan,
ReplyDeleteCould you mention about credit linked notes too. Many of us still do not have settlement yet.
Thanks
"IF there is more complaints".
ReplyDeleteErh... Minibond has 10,000 victims. DBS High Notes has 1,400 victims. Pinnacle, Jubilee etc.
Outcome? Nothing.
Wrote letters to MAS, MP, PM, SM, MM.
Outcome? Nothing.
Hong Lim park numerous petitions to MAS chairman [SM].
Outcome? Nothing.
Hong Lim park numerous speeches & newspaper publication.
Outcome? Nothing.
Conclusion: More complains mean must exceed at least 12,000 people.....
Conclusion: More complaints mean that PAP got >50% chance of not securing 2/3 majority at the general elections.
ReplyDeleteAt least our local media is doing something finally. Must complain & complain endlessly then action will be taken.
ReplyDeleteIs there a date for this story ?
ReplyDeleteI hope it is able to show some teeth. There really is no investigative journalism in singapore.
When more is spent on advertising, marketing, or even lawyers fees than investor returns then it is almost certain that a scam exists especially when any investor returns are just the minimum necessary to ensure that other investors keep investing.
But will any singapore media organisation bite the hand that feeds it or incur the wrath of a well funded lawyer?
To Anonymous @ 11:37am,
ReplyDelete"...At least our local media is doing something finally..."
Knowing what our local msm is like, I say let's watch what is the edited version of the telecast on this Sunday. Mr Tan KL can update on this blog and keep us updated if there is any major distortion or misrepresentation of his view from the programme.
Merliion
Hmm, so it's the CNA Money Mind on this Sunday night.
ReplyDeleteI suspect they will edit it so that at the end of the day, the conclusion is that landbanking is a valid alternative investment, but potential investors are reminded to do their own due diligence. Not sure whether the host, Melvin Yong, will even say loud loud that landbanking, among many other so called alternative investments, are completely unregulated in Singapore, therefore can be marketed and "advised" by amateurs and salesman, and completely none of MAS business.
It's like you go to Toys'R'Us and say that you are investing in collectibles and objets d'art. The difference is that at most you lose $100 and still get to play with the toy.
I haven't come across any local production that do a really critical and no-holds-barred current affairs programme or documentary. Unlike those in UK and Australia that I've managed to watch.
Maybe we should reserve our comments until we watch the show. I am hoping TKL blog has help to convince CNA that land banking is a bad scam and people are hurting.
ReplyDeleteI also hope to see responsible journalism and present the issue fairly i.e. interview between the company and the victims.
Mr Tan, I hope the programme will have Malay subtitles, or even better, dubbed in Malay.
ReplyDeleteThere is at present a Land-banking firm targetting the Malay-Muslim community. However, it claims to be a `Land investment' company. It was featured recently in the Malay papers, over its controversial offer of minor pilgrimage to those attending its presentations. The risks of land banking itself was not a major issue in the controversy.
I believe its ventures concern land bought in India.
Landbanking is all about Land Holdings for a specified period of time and to my investment experiencs as summarised:
ReplyDeleteCanada lands have shown proven exits to investors.
UK or British lands are mostly invested in the GreenBelts that caught many investors in a wild goose chase!with no hope of ever seeing their land exit plan?
Singapore lands are all held mostly by HDB & Corporate Big boys
so no opportunity for such investments for private investors.
In my own opinion, saying that Landbanking is a scam is akin to saying the bank is also scammers since some people also lost their money with banks. Why generalise the whole investment? Bad business that overpromise and under-deliver is everywhere.
ReplyDeleteSo why not let us all take out the money from the banks and put into the Milo tins?
Do your own due diligence people! While you are being skeptical, there are already a good lot of investors reaping returns on Canadian lands with Walton! I lost money with UK land and my mother collected returns on her Canadian lands, so I am still going to put my money where i see track records!
An extreme due diligence using a 3-part methodology to access Walton, leaving few stones unturned.
ReplyDeleteThis web resource documented other land banking companies also (including scams).
Time period: From 2005 to 2010, most intensively during 2005~2006 period.
The extreme due diligence link is here, http://tinyurl.com/34b9tr5
ReplyDeleteThank u very Much.
ReplyDeleteUK land investment