MALAYSIA GENNEVA
A former consultant wrote this and again it meant for Chuah, Genneva Consultant.
Here you go:
My name is OLD UNCLE. I used to be an active con-sultant for Genneva ( formally known as Samudra) in the early 2009.
Thankfully, I managed to totally pull-out/withdrawn all contracts since last year .
I assumed you are new and therefore do not fully understand what is really going on with the company.
They kept changing company policies as and when they like, to suit their own interest every few days.
At first, every Consultants were forced to pay portion out of their commission regularly each month- so called monthly meeting expenses!!!.
Later on, we, consultants were made compulsory/forced to pay Rm 500 each to joint as Gold Beam membership.
From there on-wards, to renew membership with Rm 250 every year.
Why is there a need to joint as member of Gold Beam when all of us consultants are under the umbrella of Genneva ??
Without our consent, Genneva can just subtract from our commission to “donate” to functions like big walk, F1, etc to boost it’s name/image.
If company is doing well, why does the company needs to boost its image at the expense of its consultants??
When company’s cash-flow was low, its started forcing everyone of us to pay Rm 250 to Rm300 each to attend non-sense hibah training.
After that, we had to pay extra Rm 40 per contract for stamping.
Later on, company came up with deducting Rm5 per cheque deposited into clients’ bank account.
Is there any other company around who charge a fee for banking-in employees’ salary/commission into bank a/c??
To me, all the above collections are like day light robbery.
Have you ever heard of anyone having to pay to attend for their own company’s Annual Dinner ??? Genneva must be the first and only one.
On top of paying for dinner ticket, we even had to pay bus transportation fare to the event venue. Imagine that.
During the Annual dinner, lucky draws were not lucky at all because Genneva never fulfill its obligations until today.
When asked where are the won prices, they said had to cancel because violate government guide lines.
Free trips to China also no news until today!!!
Of course you may say these are small matters as long as you get your monthly commission and physical gold bars in hand.
Yes, I do agree will you. Even if company wind-up or no longer pays out hibab, its “OK” as long as gold bars are with the clients.
But this is not the case. I had emphasized this 2 years back, for those who follow this forum would still remember.
My only concern is the “Waiting Time”.
Scenario 1) Waiting to get hold of your physical gold after you have made payment AND
Scenario 2) Waiting to collect payment cheque when you had delivered your gold in advance to the company during “sell back”.
2 years back then, the “waiting time” was about 2 weeks maximum but now, it seems stretching beyond months!!!.
My dear Mr. Chuah, have you ever thought of the consequences if you are caught in the above scenarios when suddenly :-
1) Genneva follows Gold Label footstep, to announced in newspaper it no longer sustain business & decided to wind-up or
2) Bank Negara decided to conduct a raid at Genneva & found no cash nor gold available at the premises.
The key point here is “Waiting Time”. The months of “waiting time” is total nightmare.
You will have to be hold responsible to your relatives & friends whom you had convinced that the scheme is “safe”.
Please please and please do not compare Genneva with Poh Kong or any other gold smith shop.
With Poh Kong, you pay and ON THE SPOT you get you gold.
Likewise when you sell to Poh Kong, you get you cash ON THE SPOT.
Please please do not mislead others that you have physical gold in hand.
In actual fact, during the duration of 3 months contract, you only get to hold on gold bar a few days at the most.
By the time you got your gold, its already time to pass back to company for renewal inspection!!!! Yet wait another round….
Please, no more mentioning of holding gold bar in your hand & wait for it to appreciate then sell.
The main issue of discussion is, the time for Genneva to deliver gold or cheque cleared before anything bad happened.
For those who are still waiting to get the gold or sell-back payment cheque, sweet dreams.
By the way, ever wonder why sell-back payment cheques NOT auto-deposited into bank like monthly commission!?!?!.
Dear uncles and aunties, the end is near…You may start crying…………………..
This post has been edited by eddiv3dd3r: Mar 22 2012, 09:52 PM
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