Sunday, March 08, 2009

Dubious Land Investment

Hello... long time no see, no hear...... Actually, since AGLOCO was announced dead part of me died too ;) I even forgot my password! has to go on...

Remember my entry Land Investment in the UK. Is it for real? posted on 2 July 2007? So did anyone happen to buy land in the UK for investment? Well you have to be very careful then...the property market over there is also not doing very good...In fact the whole world is affected / impacted.

This is a reprint from The Star on 7 March 2009.

Bank Negara raids Walton offices
BANK Negara Thursday raided Walton International Property Group (M) Sdn Bhd following complaints from the public on land banking schemes promoted by the company.

The central bank said in a statement yesterday that the raids were simultaneously conducted at the premises of the company in Kuala Lumpur, Kota Kinabalu and Kuching.

It advises the public to be cautious of this type of land banking schemes promoted by Walton.

“Any elements of deposit-taking activities and public offerings such as interest schemes or investment in real estate schemes should be referred to the appropriate authorities such as Bank Negara, Suruhanjaya Syarikat Malaysia and Securities Commission,” it says. — Bernama

For Bank Negara statements click here

see ya...

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