I am one of the earlier client of PP. The pounds was 3.06 in June 2005, there about. During the first sale of Bonifacio in August 2010, the exchange rate was 2.1482 on 08/08/2010. While CAD takes their time, the exchange rate has dropped to 1.97846 SGD as of today. Not to mention the 12.5% that PP repaid us every year. These are significance loss of potential income. I am upset about "investments related to an industrial lubricant called Boron. - Apr 2012" I am a Land investor. I didn't buy Boron. Why should I be dragged into this issue? If you want investigate BORON go ahead do not stop the company from operating. Give me my money for my Bonifacio. Please these "86/20 Clients". I appeal to you. This company has always been offering long term investment portfolio and if clients have been deluded as a quick rich scheme, they have lacked the fundaments of the products. Other Land Banks Companies are free for them to examine, projects like these are NOT completed in a short frame of time. Any other Land Bank Companies coming under scrutiny at the moment?
If the Directors are convicted, it means that they will be discharged of all responsibility to pay all the clients, sit in jail and then come out inherit all our gains. Have these 86/20 people been advise the consequences of their unadvised intentions? Do you really want them in jail or you want your investment returns. As far as I have seen, the Directors have displayed patience and integrity trying to gain back the company on behalf of the clients. Many would have just left and leave the clients in disarray. If you compare the treatment of City Harvest received and PP... I must say the actions of CAD are extreme on PP. It is a bit unfair for us to become collateral damage during the unvalidated crossfire.
There are no co-incidence in life. If the following is founded and are documented facts.
4th August Contract is witnessed by a Singapore Notary Public then delivered to the Philippine Embassy in Singapore to be witnessed and sealed. 6th August Contract returned by Philippine Embassy to PP and sent to The Philippines. 9th August Contract arrives in Philippines. 10th August Public holiday. 11th August CAD raid PP offices; freeze bank accounts thus stopping payments to clients; and remove all documentation – except the contract to sell the land in The Philippines.
There is a conspiracy going on. Borrow the knife kill the cat. Either CAD has been swirl into the evil scheme of things or there is a hidden agenda somewhere. I am using City Harvest as a yardstick to measure PP situation. And I do not understand why the bank accounts, documents and operations are frozen. According to my City Harvest friends, the probe started about the same time as PP yet they are able to operate all this while. If so PP would be able to complete the sale after 11th August 2010 and CAD can save all the time, money and courts' time as there was no dishonesty in the first place. It feels like a set up.
I have been gradually disillusioned by Singapore change of policies, imported foreign talents scheme, departments of government "serving" their citizens and we are collateral damage.
News of Former Central Narcotics Bureau (CNB) director Ng Boon Gay, SCDF chief Peter Lim Sin Pang, two senior employees at the Singapore Land Authority (SLA), Lim Cheng Hoe Chief of Protocol at the Ministry of Foreign Affairs, 455 clerical officers committing fraud amounting to more than $600,000, let us hope that Corrupt Practices Investigation Bureau (CPIB) know what they are doing. There is a Chinese saying don't stir a clean bowl of soup with a dirty palm.
Numbers are numbers. eg:- "48 men are charged and 80 men have been implicated in the case. More charges are expected to be filed." They should be justified before released. You can't adjust from 299 down to 86 down to 20 charges. 2.4mil down to 1mil in investors money and the constant public Prosecutor asked to postpone to buy time for what? A cover up? Are the departments involved in co-hoot? I want visibility, Olympic is here. Pounds strengthened. I am impatient.