Profitable Group - is it credible?

[Skurai]

Read a newspaper/magazine article on it that basically says it is speculative. Btw, there is no investment that has such a guarantee on returns that high. If such exists, it wont be available to us normal investors of the public.

 

[belledonne99]

A delay of 2 months is still a breach of contract, even if they eventually pay up, don't you agree? Sure, it is better than they not paying up. But if I need this amount of money to repay a bank loan, is the group going to compensate me for the extra interests incurred?

I read that there is a clause on Power of Attorney in the contract which seems to give us the power to complete the transaction in the event they don't pay up. Will seek some legal advice on that clause.

Making a lot of noise at their office may be the last resort, but I hope I don't have to go to that extent. I would prefer to let CAD handle this appropriately and professionally first. Will be giving statement to CAD soon.

 

[violetteo]

Hi All,

I have been following the posts on this thread very closely because I have invested in three separate lots of Borons. I am truly worried to see the posts from some of you who insist that you have not been paid for months. I have contacted my Client Service Officer and he has acknowledged that some of the payments have been indeed delayed and he gave me a time frame of 2 months at the maximum. So, it is really puzzling to see posts saying that they have been delayed by 4 months or more. I am really anxious to see why Kelvin has not replied to the posts in here recently. Has he been paid? My officer did tell me that some pple who invested in Boron went to the PPG office and made a lot of noise and eventually got paid within a few days. This is contrary to what I read in here. I am a mature investor and I have invested in PPG only after looking very deep into their credentials and company profile. It really sadness me to see many negative feedback on them. I also know some friends who have invested in their plots and Borons and they are equally puzzled and worried, but none of them are worried to the extent to pull the plug on all their investments, because they have been paid good profits by PPG on some of their products previously which nobody here has mentioned. I really do hope more pple who come forward and share their exp with Boron so that we can all decide how we can manage our investments in Boron and PPG.

To ease our fears, i hope that Kelvin will reply to this thread asap to inform us on whether he has been paid. Likewise, I've actually study on PPG and heed advises from fellow investors friends prior to investing in Boron. What i gathered is that PPG has high credibility, hence the decision to invest.
Fellow boron investors, pls kindly share ur experience with us. Thks!

 

[henrylbh]

Has anyone read TKL blog on PPG as well as PPG response and challenge against TKL in its earlier website?

 

[Adeius]

Profitable Plot AAA

Hi all,

I am in exactly the same situation as you all. My investment with PP is in AAA Philippines plot. It matures on Apr 2009. But they have been delaying the payment till date. I have gone to their office several times and each time they give a different reason. I find them getting very evasive and not to be trusted. As a professional company, they are obligated to keep us informed in writing and not just keep us waiting and wondering what is happening to our money

It is a utter disappointment with them. They just have nice packaging and presentation. Their credibility is of no value. I find that they have seriously committed an act of misrepresentation at the point of sale. But it is pointless for me to drill on this with them as PP highlight to me that they have the option not buy back the plot on the due date even if I will to surrender my plot to them as stated in the contract. So that leave me stuck in a situation whereby I am at their mercy.

If you know of anyone that have AAA plots, please link them to me. We are all facing the same problems.

I thought Boron have no problems as they only face difficulties paying client with AAA plots cos my CSO told me earlier then that they were waiting for a sum of money to come in from their Boron investment so that they are able to pay AAA investors. Now that I come to know that even their Boron investors are not receiving payment, those CSO are obviously have been lying to all of us. The final reason that my CSO given me is that PP are facing cashflow problems now.

I think belledonna is right, we should report this to the CAD to exonerate this injustice. Let keep one another updated. Thanks.

 

[Adeius]

Hi belledonna,

Do read the clause carefully cos they would not be putting in something that work against them in any way. I am trap by their contract as well and I am seeking legal advice now.

 

[Drav03]

Hi Adeius,

I understand your plight. I do not hold any AAA products but my friends do and they have not been paid. One of my friend did tell me that there is some development on this matter. Please consult your officer. Well, I think you can pursue a legal case with PPG but I am very sure they have them covered with some clause somewhere in the contract. A legal approach to resolve this matter however, may take a long time and cost alot more than your investments. So please do think abt it before you take up the case. Maybe get a lawyer friend or someone to read thru the contract documents before taking legal action. I dont think PPG will put themselves in a vulnerable situation in a contract. Btw, wat is CAD and are they really going to make investigations as claimed ? Just curious.

 

[belledonne99]

CAD is Commercial Affairs Department, under Police. I am sure they will act professionally. When I give them statement, which is soon, I will alert them to similar cases on hardwarezone forum. I will also seek their help in interpreting the contractual clause on Power of Attorney.

I see more people reporting delay of more than 4 mths. Totally unacceptable for such a company! There is no time to lose. I was right to refer to CAD after the Group delayed my payout for 2 weeks. It's coming to a month now. Again, don't waste time, if you are affected, please seek help.

 

[Adeius]

Hi Drav03,

What development do u think they have? The development is some new stories that they come up with unless they are prepared to write to us in writing. The latest news I have is that someone has laid a claim on the AAA Phillipines plot and so PPG is fighting in their court now and so the plot cannot be sold and cannot get our money back. Any development if it is credible and nothing to hide should inform their clients in writing. You see how banks deal with the situation when those Notes falls in value and their clients are in dire circumstances. And that is what I call professional company.

Yes, they will not put themselves in a vulnerable situation. But now, they are the one who put me there. I will not stand by and do nothing. Btw, may I know how's your friends deal with it? Is it possible to link them to me so we can keep one another updated about our plight and probably work out something.

 

[Drav03]

Hi Adeius,

I really cannot comment on the AAA as I really do not have any investment in it. I think if u feel strongly about your legal action, please pursue it. I strongly feel that AAA is having a lot of problems and they are struggling to resolve the matter. I dont think it is appropriate to link my frends to u in this forum. I trust they want to stay confidential as I personally know they have invested huge amounts of cash with PPG. But none of them I know have gone for legal advice as they still feel PPG will pay them eventually. I dont know how long they can wait, but they seem to be very patient with them. I really do not know why. As for me, my Borons are not maturing yet and if I do not get paid for more than 4 months, I may consider legal action if it is worth it anyway, because the only winner laffing his way to the bank would be the lawyer.

 

[Adeius]

Hi Belledonna,

Please keep me updated when you finish ur session with the CAD officer?
Tks.

 

[probono]

Alarm Bells ?

I thought Boron have no problems as they only face difficulties paying client with AAA plots cos my CSO told me earlier then that they were waiting for a sum of money to come in from their Boron investment so that they are able to pay AAA investors.

This statement alone rings big alarm bells. Is that what the CSO really said? Each investment should be self sufficient. Using funds from new or different investments to pay old investments is the Madoff model of funding and can only lead to a bad end if it continues.

Can any investor in either AAA or Boron confirm that there is an option to re-invest profits ?
If most people are reinvesting the profit and seeing their "printed" wealth grow then probably there is cash available now to pay concerned investors. No investment company wants bad publicity to cause a run on the funds.

 

[belledonne99]

I have given my statement to CAD of Police. I was told that I am not the first to bring this matter up to them. They have seen a few such cases already, and they will investigate.

I have also alerted them to this forum. But if you are affected, you have to pay CAD a visit to give statement. What you said in the forum is not a good basis for them to take up your case.

Btw, what Probono said is true. Is the CSO's reply in black & white eg. email? If so, safekeep it.

 

[Adeius]

Hi all,

Don't expect PPG to write to us in black and white? They are not paying all of us on our respective due date. As I said earlier, they would have write to us in the first place if there's very good ground for the delay.

Anything in writing could be easily used against them in any legal suit. The next best solution is to report to CAD now and get the real facts out.

 

[Drav03]

Hi,

I think Kelvin could have been paid and he is not bothered to reply to the msgs here. I read that PPG in Msia was probed and found not gulity of criminal acts. CAD will investigate but they will not necessarily fight for ur payments. U will still have to engage a lawyer to do that.

 

[kelvintyy]

Hi There,

I was not in Singapore these 2 weeks.. just came back.. Nope I had not received my payout yet.. I checked my phone and emails.. no reply from them..

I really hope things will go better for both sides..

 

[Adeius]

Hey, Kelvin

Pls report to the police CAD.

 

[henrylbh]

Hi There,

I was not in Singapore these 2 weeks.. just came back.. Nope I had not received my payout yet.. I checked my phone and emails.. no reply from them..

I really hope things will go better for both sides..

Since Channel News Asia telecasted about this company, why dont invite/call CNA to visit this site and make news.

 

[belledonne99]

Received Reply from Profitable Group's Manager

I have received an email from Simon, the manager which I mentioned in one of my earlier posts, that he's working hard right now to make sure that I receive my payment in early Dec 09. I hope they honour their words for at stake is their very own reputation.

At the same time, I also note that Kelvin has just said he has not been paid (after 4 months!) despite being promised a payout date of end Oct 09....

 

[kelvintyy]

Hey, Kelvin

Pls report to the police CAD.

Hi I had already made a report with CAD with my real name more than 2 months ago.
I have indicated to CAD that I will not pursue the matter if PG pays my capital back. I am not concern if I can get 12.5% or not.

To anyone in PG who saw this thread,

I do hope you can return the capital back to all your investors who wish to surrender their investment contracts with you.
These are their hard earned money.
Or at least send a written letter to the investors telling them of the delay.

If I received my capital back eventually, I would therefore delete all my threads here or edit it to say that I have been paid. Cos I do not wish any unhappiness between the 2 parties. Tks.