Things looks bleak for Genneva investors and also other "gold" companies.

Here is the link.

Ref No : 10/12/08

Embargo : For immediate release 

Update on joint raids conducted by enforcement agencies on companies suspected of conducting illegal investment schemes using gold

The Attorney General’s Chambers, the Royal Malaysia Police and Bank Negara Malaysia, would like to provide the following update on the recent raids against companies suspected of operating illegal investment schemes using gold.

These raids were conducted in the interest of protecting the investors as well as the public at large from falling victim to illegal schemes.

Based on surveillance and examination conducted on these companies, it has been discovered that these companies are operating schemes that are believed to be not sustainable to provide the promised high monthly returns, nor would they be able to provide the buy back guarantee of gold. Such schemes are not sustainable because the returns promised are not funded through gold trading, but from the monies invested into such schemes. The investigations have also revealed that the amount of assets and monies held by these companies do not commensurate with the amount collected from their investors. (Kris, does this mean that these gold companies does not have sufficient money to return to investors if they liquidate? This is alarming indeed!!)

Prior to the joint raids, it has been noticed that these companies have delayed in returning gold or money to the investors within the stipulated time as promised. Such signs are early warning indications prior to the collapse of such schemes that would result in significant losses to investors.

For more information, members of the public may contact the following:

BNMTELELINK (Customer Contact Centre)

Tel: 1-300-88-5465

Fax: (03)2174 1515

The Attorney General’s Chambers of Malaysia 

The Royal Malaysia Police

Bank Negara Malaysia

Bank Negara Malaysia

10 October 2012

© Bank Negara Malaysia, 2012. All rights reserved.

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A continuation post from my previous post on the importance of a strata title.

This is a list to watch out for. The property developer's blacklist by the JKPTG. These developer had failed to apply strata title for the owners, aka HIGHLY these developers are problematic. I bet that most these developers have already closed shop and operating under a different company name.

So be highly beware, if you know that the people behind a new development are these same bunch of people. These are the scary part where sometimes a developer launch a development under their "sister" company even though they advertise the launch thru their more famous and well known company name. You can see the "Real" developer company's name in your S&P.

http://www.kptg.gov.my/ms/jkptg-online/laman-berita-terkini/698-senarai-pemaju-yang-gagal-memohon-strata-sehingga-mac-2012.html

 Senarai Pemaju dan Projek Yang Gagal Memohon Hakmilik Strata (Sehingga Mac 2012) 

Maklumat yang Berkaitan :

 Senarai Pemaju dan Projek yang Gagal Memohon Hakmilik Strata (Sehingga Januari 2012 )

 Senarai Pemaju dan Projek Yang Gagal Memohon Hakmilik Strata (Sehingga Januari 2011)

 Senarai Pemaju dan Projek Yang Gagal Memohon Hakmilik Strata (Sehingga Mac 2011)

 Senarai Pemaju dan Projek yang Gagal Memohon Hakmilik Strata (Sehingga Jun 2011 )

 Senarai Pemaju dan Projek Yang Gagal Memohon Hakmilik Strata (Sehingga Julai 2011)

 Senarai Pemaju dan Projek Yang Gagal Memohon Hakmilik Strata (Sehingga September 2011)

 Senarai Pemaju dan Projek Yang Gagal Memohon Hakmilik Strata (Sehingga November 2011)

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Looks like another US airline casualty. Airline industry in the US is really a tough market to survive in. Nowadays, most US airlines charged a lot of miscellaneous fees if you are not observant enough. Long gone are the days of free privileges such as free 1 luggage check-ins.

As far as I know, the most profitable global airline industry should be Singapore Airlines which is holding cold hard cash in its war chest. And the service is rated as one of the best!! Changi Airport itself , IMHO is one of the best in the world in terms of environment & infrastructure.

And if you ever took US domestic flights, it can be the most uncomfortable experience as most US aircraft are NOT AirBuses like what you get in AirAsia. Some flights even use propeller planes like the Fokker. (something that seems to be very outdated as it was used widely during the 1970-80s). The seat space is very small even for an Asian man like me. It is no surprise that the Americans themselves are having a hard time seating themselves in!!

The AMR Corporation, the parent company of American Airlines, said on Tuesday that it had filed for bankruptcy protection in an effort to reduce labor costs and shed a heavy debt burden.

AMR was the last of the major legacy airline companies in the United States to file for Chapter 11. Analysts said that its reluctance to do so earlier had left it less nimble than many of its competitors.

The company had been in contract talks with its unions until the negotiations stalled earlier this month when the pilots’ union refused to send a proposal to its members for a vote. Because federal bankruptcy rules allow companies to reject contracts, AMR may take a harder negotiating stance with its unions.

“Achieving the competitive cost structure we need remains a key imperative in this process,” Mr. Horton said, “and as one part of that, we plan to initiate further negotiations with all of our unions to reduce our labor costs to competitive levels.”

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This franchise was touted as a golden entrepreneurship example. Brilliant idea on making a futuristic ice-cream where they used liquid nitrogen to freeze it to become small dots that melts in your mouth. I read it in the book so when I went to the US and saw a store, I had to sample it to see what is all about.

It is NOT cheap ice-cream if you compared it with American Standards. A small cup will cost you around USD5 bucks. With UDS5 i can easily buy a BOX of Haagen-Daz to all satisfy my sweet tooth. Looks like it will never hit Malaysia as it files for bankruptcy. I think the most popular premium brand ice-cream in Malaysia is still un-doubtly Haagen-Daz where there is even a store to sell that premium ice-cream around RM30++ a pop to customers. (I am not sure as I never took it while in Malaysia as it is freaking expensive, while in US it is quite cheap!! And my taste buds cannot really differentiate it against the RM1.05 MacDonald Vanilla Ice-cream :P)

Dippin' Dots began in 1988, when microbiologist Curt Jones applied cryogenic freezing methods to ice cream. Jones flash-froze an old family recipe, creating tiny beads of ice cream. He eventually sold his creation at theme parks, where it quickly became a hit. Having since expanded to include Dippin' Dots frozen yogurt, the company sold its first franchise in 2000. Today, it has 250 locations (and an additional 360 fair locations) in the U.S. and nine other countries, including Canada, Japan, Ecuador, and the Philippines.

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