Profitable Plots: An investor’s testament
Its early in the morning and the big news is that Palm have been bought up by HP. However, this account from a former investor of land banking group Profitable Plots is more interesting.
To all investors considering land banking do consider carefully. If this is what Profitable Plots is like, then i wonder what MAS is doing
From hardwarezone forum:
ok my hearing was today. the outcome was not as good as hoped for, but i think Profitable Plots came away worse-off than i did.
i know staff of Profitable Plots are reading this forum, and i know at least 1 other forummer here knows my identity, but i hope you’ll keep my identity anonymous please? i need to say what needs to be said, but i don’t need the unwanted attention.
if there are any members of the press or media here on this forum, yes i’ll consent to interviews, just respect my request for privacy please.
so before it’s too late, here’s my story:
like many of you, i’m a victim too. i bought AAA product in July 2008, and have yet to receive payment when it matured in July 2009. As May approaches, almost 1 full year has elapsed since payment was due.When i purchased the product, i too was told that 12.5% returns wld be guaranteed within 1 year, potentially sooner (if the Philippines site got sold or UK received planning permission approval etc). I told my CSO, “thanks… but forget castles in the sky, 12.5% per annum is good enough”, rejecting other products like Concorde Village etc that offered 900% returns but an indeterminite time-frame. She assured me 12.5% within 1 year was definitely possible, and legally binding.
So i paid the money in July, signed the contract in August. Many of you must’ve also had your contracts backdated to the time of payment right? That makes the contract itself somewhat dodgy, but i won’t dwell on that.
In June 2009, i filled up my Exercise Form to request payment, and it got accepted by my CSO, and Chandra their Grp Sales Director. Was told by CSO that my payment wld be in August, since maturity was July.
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