If British Regulator, who are paid peanut according to Singapore standard, took an interest in fairplay and retail investors' falling victims to landbanking scam, why is Sgp MAS not reacting even though those Ministers' are paid out-of-the-world salary?
This again showed that paid well does not mean perform well looking after the interest of the investing public.
Some Landbanking companies issue Title Deeds and Insuance so am wondering what's the problem here. Can any investor share or comment on this issue if any?
Anonymous:- Yes you may get the title deed. But what seems to confuse many people is the land is usually worthless and without prospects.
You pay S$20,000 for a UK land plot. The land was purchased for S$1000 per plot. The land banking company makes SS19,000. You have to pay legal and administrative expenses to transfer the title.
The land Banking company tells you in 3 years the land will be worth S$60,000 with planning permission. They even show you a few reports they have written and sent to the local council on. Everyone wins right?
Wrong. 3 Years passes and you realise through research and other plot owners that planning permission cannot happen at this site. All the reports and officail documents you have been sent are meaningless. You realise if planning could happen the land banking company could not have bought the land so cheaply and they would not need to sell it in shopping centres in Singapore. A UK bank or UK developer would have bought it if the land had real prospects.
So what is the land worth after 3 years ?
You have a small amount of appreciation on a piece of greenbelt or protected land. But! The plot is in the middle of many of other plots. It cant be used for anything. It will cost you money to sell it. You are legally responsible for maintaining it.
If you put it on Ebay might get a couple of hundred dollars if you are lucky. Most plots are abandoned after a few years and the investor loses all of their money.
Again, Um Si Wa !!! For heaven sake, Do something lah or be proactive in doing something to help investors, that is the job of Government Servants. Whatever grey areas fall into the job scope of Governemnt.
the land banking company in question is now givving a new story. they now are selling land in a south east asian country and said they will pay the clients. new ponzi scheme.
waltons is straight forward. no land from one country sold in the second and the returns promised from the third---!!! cant the regulators in singapore not get this company even now??
Landbanking can be a lucrative investment if invested wisely in countries which are proactive and regulated.
ReplyDeleteThere are pitfalls too, as all investments come woth Risk.
If British Regulator, who are paid peanut according to Singapore standard, took an interest in fairplay and retail investors' falling victims to landbanking scam, why is Sgp MAS not reacting even though those Ministers' are paid out-of-the-world salary?
ReplyDeleteThis again showed that paid well does not mean perform well looking after the interest of the investing public.
Some Landbanking companies issue
ReplyDeleteTitle Deeds and Insuance so am wondering what's the problem here.
Can any investor share or comment on this issue if any?
Anonymous:- Yes you may get the title deed. But what seems to confuse many people is the land is usually worthless and without prospects.
ReplyDeleteYou pay S$20,000 for a UK land plot. The land was purchased for S$1000 per plot. The land banking company makes SS19,000. You have to pay legal and administrative expenses to transfer the title.
The land Banking company tells you in 3 years the land will be worth S$60,000 with planning permission. They even show you a few reports they have written and sent to the local council on. Everyone wins right?
Wrong. 3 Years passes and you realise through research and other plot owners that planning permission cannot happen at this site. All the reports and officail documents you have been sent are meaningless. You realise if planning could happen the land banking company could not have bought the land so cheaply and they would not need to sell it in shopping centres in Singapore. A UK bank or UK developer would have bought it if the land had real prospects.
So what is the land worth after 3 years ?
You have a small amount of appreciation on a piece of greenbelt or protected land.
But!
The plot is in the middle of many of other plots. It cant be used for anything. It will cost you money to sell it. You are legally responsible for maintaining it.
If you put it on Ebay might get a couple of hundred dollars if you are lucky. Most plots are abandoned after a few years and the investor loses all of their money.
Does anyone has any comments about Walton international?
ReplyDeleteWalton International....ok!
ReplyDeleteBig,Strong & Friendly that delivers,except for long wait.
Again, Um Si Wa !!! For heaven sake, Do something lah or be proactive in doing something to help investors, that is the job of Government Servants. Whatever grey areas fall into the job scope of Governemnt.
ReplyDeleteUNEGULATED Investments carry RISK!
ReplyDeleteAlways remember that Attractive investment opportunities may turn out to be bogus.
Thanks & No Thanks!
the land banking company in question is now givving a new story. they now are selling land in a south east asian country and said they will pay the clients. new ponzi scheme.
ReplyDeletewaltons is straight forward. no land from one country sold in the second and the returns promised from the third---!!! cant the regulators in singapore not get this company even now??
Tks. Mr Tan for all the infos. on
ReplyDeleteLandBanking Issues....wiser now!
Will the Law protect a Regulated or Unregulated company?
Me blurr sotong!,,,,all this while.
I must now get infos. from MAS regulated investment companies or NO go at all!
Lesson learnt:Invest at your own risk?