Profitable Group - is it credible?

Hi

Dropped by Raffles Place (the open space where roadshows usually happen) during lunch hour. No Profitable Group roadshow. Maybe they are having it in a different part of Raffles Place I did not venture to. Maybe they plan to start at a later hour (though that would not make sense since lunch hour traffic is the heaviest in that location - lots of new money to trap). Maybe they decided not to hold it - alerted to what some of us might do. Anyway, just wanted to see what is the latest they are paddling and what sort of hard selling tactics they will be using.

Also registered my interest for collective legal action at Tan Kin Lian's blog site. Will see what comes of that. I think there is good sense in getting organized here. A lot of people are suffering in silence because there is no recourse for them if they have invested anything less than a few hundred thousand. PG can continue to delay payment and there is nothing anyone of us can do. So, either you consider your money 'lost' and write it off, or you do whatever is available to you. Hopefully, one of those avenue will bear fruit.

http://www.telegraph.co.uk/property...-footballers-leaves-investors-in-the-red.html

Dunno how true this article is..
From UK Telegraph (one of the national newspaper) about greenbelt land banking promoted by ex-footballers...

I went to Raffles City and Raffles Place this afternoon around 3 pm.. but found nothing there. I was not sure where the exact location of this road show was.

Looks like recently they had put some announcement in their website:

"The Worldwide economic downturn has affected virtually every business in some way. Whilst our clients may have experienced delays on some projects due to a general slow down, The Group is still able to state that not one client has ever lost money, which we believe is remarkable particularly over the last 12 months. "

For more details: http://www.profitablegroup.com/group-board.aspx

NB: Till date I have not receive my money yet.

Hi all, m new to this forum n after having read this thread, I felt had had to respond. Its quite scary all the post of people who have had to wait for their OWN money back.
Im also one of those who have invested in PP's AAA & boron products. My AAA's are going to reach the 1 yr date soon & am going to see what happens when I request to cash the 12.5% out and am going to keep in mind the experiences of all those who posted here. As for my Boron I had just renewed it for 6 months not too long ago (before reading all this), although I have already indicated that I intend not to renew and roll over.
Getting really concerned abt the situation, but hoping for the best. Will update after I meet my CSO next wk & see what she says.

Have any Profitable Group projects been successful ?

Whilst our clients may have experienced delays on some projects due to a general slow down

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Where is the money coming from to pay for offices, TV advertising, CSO bonus and 12.5% payouts ?

Nothing is happening with the UK projects.

Concorde Village - News article quote Profitable representative saying development is a minimum 10 years away.
Cherry Tree Grove - Refused planning twice
Spring Grove - Colchester Council said will not be developed 5 years ago.
Nafferton - After FSA decision investors offered choice of transfer from Nafferton to Concorde Village or money back.

According to this HWZ post Boron CLS contracts didnt happen.

Not sure about the land in the Philippines. Does any AAA investor know where the land is or what the story is in the Philippines ?

As the Telegraph story shows there is considerable profit to Profitable Group generated from land plot sales to investors. I cant see them giving that back without a court battle.

The only visible source of new money is new investors and perhaps a few real estate transactions. Are there other revenue sources ?

SCT

Hi all.. Just want to update a bit about my progress.. SCT has accepted my claim. Looking forward for the consultation and hopefully i can get back my money soon. Cheers..

Profitable Group on MAS Investor alert list

The Profitable Group is added to the Monetary Authority of Singapore (MAS) Investor Alert List. Its under The Profitable Group so starts with T.

http://www.moneysense.gov.sg/check_our_list/Consumer_Portal_IAL.html#t

From time to time, MAS receives information on persons who are possibly conducting activities regulated by MAS without authorisation. Some of these unregulated persons may sometimes use names similar to that of entities regulated by MAS.

Consumers should exercise care when dealing with these persons. Overseas consumers who receive solicitations by persons who claim to have an operation in Singapore should also exercise care and check if they are in fact dealing with persons who are regulated by MAS.

Below is a list of persons, on whom MAS has received information, who are not authorised by MAS in respect of the carrying on of regulated activities. The list is not exhaustive and will be updated.

Long list and under "T" you find.....

The Profitable Group (Profitable Plots Pte Ltd)
11B Stanley Street
Singapore 068730
Website: http://www.profitablegroup.com

Commander Keen said:

The Profitable Group is added to the Monetary Authority of Singapore (MAS) Investor Alert List. Its under The Profitable Group so starts with T.

http://www.moneysense.gov.sg/check_our_list/Consumer_Portal_IAL.html#t

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Wouldn't it make more sense to have a list of companies that are authorized? this will tell you all the new companies that are running a scam.

Guys, i also got a call from PG trying to sell me Concorde Village, Hounslow, London. Luckily I found this page.

The customer service officer name is Darwin Gemzon, he has been calling me a few times and I am just toying with him. He is suppose to call me again on Monday, I going to tell him to shove that stupid scam of their up his As.

Seem that government is not doing much, I wrote to 93.8 requesting them to look into this matter if possible do a segment on this. Stop people from falling into their trap

We are not an investment fund, we are not financial advisors

bbchan said:

Looks like recently they had put some announcement in their website:
For more details: http://www.profitablegroup.com/group-board.aspx
NB: Till date I have not receive my money yet.

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If I go to the statement from the Profitable Group board I see this....

"We are not an investment fund; we are not financial advisors; we provide products."
Does anyone here believe they bought a product ? Or does everyone think they bought an investment ? In almost all of Profitable Group advertising and marketing prior to 2010 they were calling themselves the Strategic Global Investment Company. Here are a number of news items from various countries.
Brunei Papers July 2009
The real estate portfolios, including land and property offer clients unrivalled strategic global investment opportunities.
Profitable Group recognises the commitment of its staff that operate globally and assures its clients that it will continue to ensure that the future is worth investing in.
UK Guardian story 2009
According to its website, the group "exists to increase the wealth of its clients, its employees and its owners, through the provision of strategically selected investment opportunities".
Hong Kong Job Advert 2009
Investment company offers 500 new employment opportunities
Aspiring sales associates should have experience in the financial markets, insurance investments, property or other investment fields.
Indonesian Job Site 2010
Industry : Banking / Financial Services
The Group's mission and vision to be widely recognized as a premier provider of Strategic Global Investment opportunities. Investors are attracted by the high returns; the solid legal structure behind the investment; the steps taken by the Group to minimize risk for clients and Group alike; and the high degree of Client Service they receive from the Group.
Singapore TV Advert 2006 - end 2008
Make that investment now
The future is worth investing in
Profitable Group Strategic global investments
Steve McMahon TV Interview Hong Kong or China 2009
I was the face of ESPN.... Yes they like to make money but they like to make money for other people. .Strategic Global Investments on sign behind him
John Nordmann TV Interview Hong Kong or China 2009
We exist to increase the wealth of our clients by making strategic investment decisions. What we have been demonstrating to people is you can get high returns with low risk products Strategic Global Investments on sign behind him
Singapore Street Directory
2010
The Profitable Group is a leading Strategic Global Investment Company,with offices located in Brunei, Canada, Dubai, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and UK.
ESPN news Jul 2009
Singapore-based Profitable Group has confirmed its bid to buy English Championship side Newcastle United. The investment company told The Straits Times that an official bid was launched last week.

Is it possible based on the above (all news items not blog entries) that investors and regulators might think that Profitable Group were once an investment company despite their declaration in 2010 that they are not?

Profitable - Invest Alert

Hi All,


How can anyone blame us the investors when they have positioned themselves so well esp. during the Liverpool team visit last July. As an ESPN partner w/ongoing TV adverts, never would we suspect they will face cash flow problems. The ACCRA record & ongoing activities seem to reflect well their stability. If you call their office, the frontline people are polite & doesn't give the impression that they are insecure etc. (or is it good acting skills?)

** The land in Philippines is this 10-hectare property in Bonifacio Global City. It's in their website "Plots" ...

They're still having potential investors walking into their showroom checking on other properties.

What I don't u'stand are :

1) why investors are now showing anxiety & telling the company they are happy to get the "capital" back only. An Agreement is an Agreement & if they've already locked in our $$$$ for so long, they must pay total lumpsum (i.e. capital + the agreed compounded interest). If legal action is taken, of course the investor with sufficient documentary proof will win the case whether civil or criminal - ALL LEGAL COSTS SHOULD BE BILLED BACK TO THE COMPANY!!

2) why investors can be bullied to extend investment for a further duration when we are not even sure the company will delay further on payouts (upon maturity). They are already stalling payouts now.

3) the company has never considered the feelings of investors and what if someone one day does something silly due to his $$$ loss?? This is a real scary thought.

They have informed most investors who have been following up aggressively on their payouts that all will be cleared by June 2010. Will they honour their words?? Even if they do, how can we ever regain our trust in them?

This is really a BIG issue !!!

Any Significant Event happening ?

esyptes said:

** The land in Philippines is this 10-hectare property in Bonifacio Global City.

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Is there anyway to check independently on the progress and ownership? Buyers, sellers, agents, land authority ?

esyptes said:

1) why investors are now showing anxiety & telling the company they are happy to get the "capital" back only.

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Because of lack of transparency. Nobody is really sure what is going on. Better to get something now than nothing later.

esyptes said:

They have informed most investors who have been following up aggressively on their payouts that all will be cleared by June 2010.

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I want to know what is the significant business event that will cause everyone to get paid in June? In writing. With proof. Else its more BS.

Invest Alert

My point was if they can't even payout on the commissions due for those AAA plots, what's the point of showing them anxiety and just requesting for the return of CAPITAL?

They will definitely have to face the music by June if they don't follow up on what they committed .... as am sure some investors are giving them a chance to make good their promise.

Expired before Jun 2009

In one the previous posts, it was stated that PG claimed that they have paid all those expired till Jun 2009.
Can I know if there is anyone here who's investment expired before Jun (or at least before May) 2009 and still haven't receive their payment?
Please also state the date of expiry and the scheme, if possible.
Thank you.

[btw, i had one expired on Feb 2009. I gave the 12.5 within a month. But this year they are telling that i wont receive it anytime soon. ]

upz for awareness!

Hope u guys can get back ur $$$.. :S

esyptes said:

My point was if they can't even payout on the commissions due for those AAA plots, what's the point of showing them anxiety and just requesting for the return of CAPITAL?

They will definitely have to face the music by June if they don't follow up on what they committed .... as am sure some investors are giving them a chance to make good their promise.

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Lol, face what music. The worst that can happen to them is they skip town. Even if you win a court case awarding all the costs, so what. Where is the money coming from, other than the fixtures siezed from their offices?

That is why most of the prudent ones rather get their capital back asap.

Has Steve Mcmahon left Profitable Group? He used to feature strongly on their web site but now seems to be gone.
He seems like a decent guy to me I would hope someone with his reputation would speak up for investors.

Steve is long gone. They have closed their sports department according to my CSO. Steve will probably lie low and will not come out to the publi. So dont expect him to safe us investors.

Orchard Building Singapore

Profitable Group are running adverts on the big screen TV at Orchard Building Orchard Road Singapore. Cant be stopped I guess.

Ha Is not that the investor wanna give them a chance...Is they can't do anything about it...sigh hate to hear this kinda news of people being scam...