Profitable Group - is it credible?

[probono]

Concorde Village Hounslow

Hi All,
By the way, has anyone invested in Concorde Village which promises return of 250% upon approval for planning permission?

Check this site.

www[dot]whatdotheyknow[dot]com/request/position_on_green_belt_and_lower

Or just do a search for 'Concorde Village Greenbelt Hounslow' in Google

There was a freedom of information request from someone in the UK because local Hounslow residents were concerned that Profitable Group were making promises about getting planning permission in 3 years. The response from the Hounslow council was to publish a response and many emails including some to Singaporeans. They confirm that there is zero chance of development happening in the forseeable future. There are also some links to the local newspaper articles on the same site suggesting the investment may be a scam, and a link to a Profitable Group TV advert stating estimated returns of 250% in 3 years.

Hounslow Council are quoted as saying
Simon Hoets, of Hounslow Council's development control service, said the prospects for development were 'extremely poor', that no encouragement had been given to the landowner whatsoever and that 'there is a serious danger that certain opinions and facts are getting distorted by distance'.

Profitable Group are quoted as saying:-
Profitable's UK planning consultant, Neil Osborn, said: "This is absolutely not a scam. I can assure you that the information fed to the Far East is completely correct. British planning law is extremely complicated and there is a risk that some things get lost in translation, but there is not a great deal that can be done about that, I'm afraid."

So if you really thought you would get 250% back in 3 years it is explained as a problem of translating English to Singlish !!

 

[Drav03]

Hey BigMan

Hey BigMan,

The fact that u hav a nick saying ur Big means u are really "small" in real life..if u cannot provide anything constructive in here..i suggest u stay away and play with ur baby sister.

Can any of the hardware zone moderators pls remove his comments and bar him from this thread. We dont need him in here..how can u guys actually put up with this piss of ****..

 

[BigMan123]

Hey BigMan,

The fact that u hav a nick saying ur Big means u are really "small" in real life..if u cannot provide anything constructive in here..i suggest u stay away and play with ur baby sister.

Can any of the hardware zone moderators pls remove his comments and bar him from this thread. We dont need him in here..how can u guys actually put up with this piss of ****..

oh? act hero? play my sister? i play yr mother! meet up? wanna try how i slam u to the ground n kiss it?

 

[belledonne99]

Who can stand a piece of ****?

Hi Drav03, the reason why I ignore that piece of **** is because I know it will distract this thread from serious business. We certainly don't just whine here in this thread. Many have reported to CAD.

May I request that my reply be the last one to the person you guys can't stand, so that we can focus on serious stuff? I won't reply to him/her either, after this post. Just ignore him/her. Who knows, he/she could be from PG, trying to distract us.

 

[kelvintyy]

Hi Drav03, the reason why I ignore that piece of **** is because I know it will distract this thread from serious business. We certainly don't just whine here in this thread. Many have reported to CAD.

May I request that my reply be the last one to the person you guys can't stand, so that we can focus on serious stuff? I won't reply to him/her either, after this post. Just ignore him/her. Who knows, he/she could be from PG, trying to distract us.

One Search Engine Optimization (SEO) skill to share;if you want a certain forum thread to be constantly appeared on the first page of any search engine. Simply mentioned the keywords again and again on the threads you posted. Anyone, in order to find out more about a company, will type the company name on the search engine, and that particular forum thread will most likely appear on 1st page of the search engines.

If we are off topic, the thread may be kicked out of the 1st page.

So let's stick to the topic: Profitable Group - How credible is it?

Dn't get distracted.

 

[belledonne99]

Profitable Group Failed to Pay Up (Yet Again)

Profitable Group failed to pay up yet again! Looks like their reputation is not even worth USD5625!

Not even an email or phone call from the CS manager Simon Dawson to inform me that they can't pay!

Simon Dawson, you asked me to remember to post if I get paid. I agreed to that & also told you, in no uncertain terms, that if I did not get paid, I would also post something here.

I want to tell everybody here - You failed to keep your promise. Profitable Group failed to keep its promise. Perhaps I should go to SPRING to ask whether they can withdraw your Singapore Quality Class award. Tell me your company deserves it!

Rest assured that I have kept CAD informed of all the actions that Profitable Group have taken.

Nevertheless, expect me to come down personally & with a stack of pamphlets that I will distribute to all. I have told you I would not accept any further delay.

 

[BigMan123]

Profitable Group failed to pay up yet again! Looks like their reputation is not even worth USD5625!

Not even an email or phone call from the CS manager Simon Dawson to inform me that they can't pay!

Simon Dawson, you asked me to remember to post if I get paid. I agreed to that & also told you, in no uncertain terms, that if I did not get paid, I would also post something here.

I want to tell everybody here - You failed to keep your promise. Profitable Group failed to keep its promise. Perhaps I should go to SPRING to ask whether they can withdraw your Singapore Quality Class award. Tell me your company deserves it!

Rest assured that I have kept CAD informed of all the actions that Profitable Group have taken.

Nevertheless, expect me to come down personally & with a stack of pamphlets that I will distribute to all. I have told you I would not accept any further delay.

lol as expected. i told u liao. u cant do anything. kiss bb to yr $$ for a few years if not 4ever

 

[redkop74]

Hi All,

I went down to their office to make a fuss on the delayed payment. Simon was not around but then came another manager call Steven Harris. He gave all sort of excuses on the delayed. He promised to give me a call by 6pm yesterday but he did not. I was also assured that payment will be made to me on 14th Dec 09 but I think it is another lie.

All I can say is that all their manager and directors are all crap. Their common excuses they are giving are:

1) Simon having meeting..
2) Steven with client..
3) Finance director not around, hence can't release cheque.
4) The delayed was caused by the global ecomonic crisis.
5) They are trying their best to resolve the payment issue
6) They will pay out the money but give them more time...

My patience has run out. I am taking actions but I will say what actions as there might be some blacksheep there.

I urge the affected people here to form a group and discuss the issue and come up with actions to take.

As for Concorde Village, it may not be a scam. As for he Trust fund, the lawyer has not replied to me.

I do agree we should write to Spring asking them to strip them of their Quality Class stautus and inform MAS (though they are not regulated) about it.

Having said that, please practice independent thinking and don't just hear rumours or merely hear say..

At the end of the day, even if we can't recover the money, it is due to our own fault for not checking on the company before investing with them or buying their products. No point blaming others.

Let's us keep the faith that the money can be recovered back.

 

[belledonne99]

Profitable Group Did Not Honour Pay Out Dates

Hi Redkop74,

The excuses given by Profitable Group certainly do not sound alien to me and many of us here. Profitable Group is sprouting nonsense. Yes, we should get our acts together.

SPRING.
Regarding Profitable Group's SQA status, I have just emailed SPRING, asking them to review Profitable Group as their actions will definitely tarnish the SQA image. SPRING's standard review process is 1.5 years after they have awarded SQA to the company, but in this case, I urged them to act immediately. I have also included a link to this forum in my complaint email to SPRING. Perhaps more can email SPRING to give support and credibility to our complaint, here's the email address: qualityserv@spring.gov.sg

MAS.
In my earlier posts, I mentioned that I talked to MAS. Apparently, they won't handle this & had referred me to the Police (CAD). CAD has taken up the case, so I doubt MAS will follow up.

Visits to Profitable Group.
All affected customers should do so. One question: if we distribute pamphlets, will that breach any law? Is there a lawyer among us who can advise?

side note: Redkop74, I think you are wrong in that Bigman123 is not a black sheep, but rather a piece of black s***. Don't elevate his status

 

[arty79]

Perhaps Profitable Group might hang me for this, but have you guys thought of a class action civil suit?

Basically its the same as a single person suing a corporation except this time round its a group of affected clients suing and thus, the court would take much greater awareness of the civil suit.

Furthermore, the cost of the suit can be shared among more people and thus, sustantially be brought down to a minimum.

 

[kelvintyy]

My Payment Status

Hi,

I have not been paid yesterday too. I am unhappy about Profitable Group for not honoring their words again.

However, I got this call from one of their directors yesterday. On the conversation, he apologized to me for the delay. And has reassured that the company is aware of the payment delay issue and they are not running away from it.

By early next week, someone from the company will call me regards to the status of my payment. I guess I have to believe him and Profitable Group for just one more week since I already waited 6 months plus.

Of course, if they break their promise again, whether verbally or in writing, then I will do the necessary actions vs them.

 

[desyjean]

Hi,

I have not been paid yesterday too. I am unhappy about Profitable Group for not honoring their words again.

However, I got this call from one of their directors yesterday. On the conversation, he apologized to me for the delay. And has reassured that the company is aware of the payment delay issue and they are not running away from it.

By early next week, someone from the company will call me regards to the status of my payment. I guess I have to believe him and Profitable Group for just one more week since I already waited 6 months plus.

Of course, if they break their promise again, whether verbally or in writing, then I will do the necessary actions vs them.

If I were you I wouldn't trust them at all. There are 3 Directors in that company and 2 of them are related ie husband and wife. The husband was the one who told my friend that he is more than "HAPPY TO GET RID OF RID AS A CUSTOMER" and my friend is now seeking legal advise in this matter. If that Director goes by the name Andy Noordmann then I would even touch him with 10 foot pole. A man without integrity.

But like you said what else can you do. Hopefully CAD will take firm action against them.

 

[probono]

Pamphlets / Spring

One question: if we distribute pamphlets, will that breach any law? Is there a lawyer among us who can advise?

I'm not a lawyer but have been involved in debt management.

With very strict defamation laws you would have to be very careful about pamphlet content. Even if the overall meaning of the pamphlet were valid, lawyers will pick on minor points which are incorrect and use these to accuse you of spreading false information(assuming they still have lawyers). This approach was used against Mr Tan and he dropped a post from his site although he still has a link.

http://tankinlian.blogspot.com/search?q=profitable+group

With these investments many of the expectations are set by spoken word. These probably are binding in law but they are very hard to prove unless you recorded them or had witnesses. I came to this site because I was given some promises of performance verbally by a profitable employee which seemed highly implausible. I was told a land site would get planning in 6 - 8 months. I've been burned before so i checked and i'm glad i did.

If you have emails with promises these are written documents. If the emails are as you describe would be both proof of delay and probably breach of contract if they contain a promise of payment that was not delivered on. Certainly they would be evidence for reviewing the quality standard.

In a debt situation remaining passive is unlikely to get you paid. Its a sad fact but complainers get paid first. Always try and be first in the queue. Approach the company first. Remain non-emotional, ensure your facts are correct. If they wont respond to you in a reasonable time speak factually to the authorities, press and internet. If you have emails with written committments save them and show them.

SPRING's standard review process is 1.5 years after they have awarded SQA to the company, but in this case, I urged them to act immediately. I have also included a link to this forum in my complaint email to SPRING.

In this UK article is Concorde Village a real opportunity ? Profitable Group were quoted as saying

"This is absolutely not a scam. It's a strategic potential development site. The Profitable Group are a Singapore Quality Class company, which is an award that only goes to a handful of companies that meet the very highest standards of conduct."

I am sure SPRING want to know if they are not living up to those standards.

 

[BigMan123]

see! wad i predicted is right! pp wont pay u for a few years if not 4ever. mark my words.

 

[nakorius]

Short of CAD prosecuting them IF they are found to be doing something that falls under their jurisdiction.

There is basically no recourse against PG.

You sue them, they file for bankruptcy, you pay your lawyers and the Court their fees in suing them... and get nothing.

They could also declare that the investment failed such as all other investments can fail, there is no such thing as an iron-clad investment and you are back to square one. And assuming if any authority is going to investigate that claim... there should be a clause that protects them that the investment is not guaranteed.

I hope you guys will recover your monies but based on everything I have read, it seems to be only a delay tactic to something quite inevitable.

Perhaps the Press should pick up on this one as well. It usually helps the authorities investigate faster when the public knows about it

 

[yeokiwi]

I'm not a lawyer but have been involved in debt management.

With very strict defamation laws you would have to be very careful about pamphlet content. Even if the overall meaning of the pamphlet were valid, lawyers will pick on minor points which are incorrect and use these to accuse you of spreading false information(assuming they still have lawyers). This approach was used against Mr Tan and he dropped a post from his site although he still has a link.

With their kind of financial status, even if you accuse them of cheating publicly, they will not take legal action. They may threaten but they have no money to fight a defamation suit for sure. If they have the money, they probably had paid some of them long ago.

 

[belledonne99]

Profitable Group failed to pay out....

Probono, thanks for your kind advice.

Kelvin, I agree with Desyjean, I don't think you should believe in their words again. Must continue to take actions - write to SPRING, to the press, to CAD, go down to their office etc and make it painful for Profitable Group.

And to all those who think we can do nothing to Profitable Group, you will be wrong. If they have no money to pay up, then the directors better prepare to go to jail. This is the law. I will make it equally painful for them, if not more. Even if I don't get my money back, I will make sure due justice is served. I am constantly checking with CAD on the investigation status & the actions that I can take. Those who had also reported to CAD, please do likewise.

 

[henrylbh]

All dont you guys all meet up and see a lawyer and consider whether can issue a demand follow by a writ of seizure.

 

[nerdyfrog]

All dont you guys all meet up and see a lawyer and consider whether can issue a demand follow by a writ of seizure.

i agree with henry on this, makes sense and better than sitting back and praying hard.

 

[belledonne99]

Taking Profitable Group to Court?

All dont you guys all meet up and see a lawyer and consider whether can issue a demand follow by a writ of seizure.

I was reading up on Small Claim Tribunal proceedings on Subordinate Court website yesterday, cos the claim amount for my Boron investment is considered small (even so, Profitable Group still has problems paying! ). Those who are interested can go to Subord court website to take a look too. The process is fairly simple. And for claims below S$20k, the fee is quite low. For claims between $5k - 10k, it's just 20 bucks.

But I am still keen to consider henrylbh's suggestion. Can I see who else is interested? Then we can arrange to meet up (Probably post one temporary contact number here, then all interested party can just contact this number).