My relative is a property developer in Malaysia. He is a multi millionaire
who made his money cheating people. He is proud that he is untouchable as
all the politicians, police and judges are in his pockets.

His modus operandi have always been to start a project by borrowing
massively from corrupt bank managers with land from an ignorant and greedy
owner. He will then market the project cheaply to unsuspecting buyer, who
are held to ransom by deleberate construction delay. Each time enough buyer
pays up, he will do a bit more and this goes on and on.

Whatever units that could not be sold are then marketed in Singapore with
guranteed returns. Unsuspecting buyers in Singapore bought them not knowing
that the Company offering the guarantee only have a paid up capital of M$2
Ringgit!

Most projects are never completed and when buyers take things into their own
hands, they found a mountain of debts owing to the banks, suppliers and even
the Malaysian gorvernment over development taxes, strata title payment, etc.
On closer inspection, the buyers will discover that the sewage systen ends
in a hole in the ground, the electricity supply connects to nowhere and
there is no water supply.

he plays small, only get singaporeans....UBS plays big, they get GIC.

On Sat, 10 May 2008 11:28:51 +0800, "SLOW DEATH" gmail.com> wrote:

Thank you for alerting all of us about this scam. Is this person a member of
a certain political party since he's "untouchable"?

"SLOW DEATH" gmail.com> wrote in message
news:g02ulc$bq9$1@reader01.singnet.com.sg...

On Sat, 10 May 2008 11:28:51 +0800, "SLOW DEATH" gmail.com> in this
message from reader01.singnet.com.sg> subject as: BEWARE OF
MALAYSIAN PROPERTY SCAM.:
wrote/and/or quoted:

Obviously you never heard of adchin
LOL

also known as chow-kow-sick-fûçkk(cksf)

On Sat, 10 May 2008 12:33:56 +0800, "Riglin" gmail.com> in this message
reader01.singnet.com.sg> from <482525b9_2@news.tm.net.my> subject
as: Re: BEWARE OF MALAYSIAN PROPERTY SCAM.:
wrote/and/or quoted:

Aiyah, nothing new lah
no substance

Do you know what I own in Malaysia?

Besides books, I own an old car, some computers, and a small office.

No land, no house, nada.

Why? Because Malaysia is definitely NOT the country for me to buy any
property.

What you said below, is only half of the picture. There _are_ more to
it, much, much more.

Many of my friends are developers too, those unscrupulous kind. Hey, I
gotta say that I did learnt a lot from them. :)

On May 9, 8:28 pm, "SLOW DEATH" gmail.com> wrote:

On May 9, 9:33 pm, "Riglin" gmail.com> wrote:

You don't even need to belong to any political party. All you need is
to make your money talk.

That's all. :)

And oh, when I get more free time, I'll teach you guys how to STEAL
land in Malaysia. :)

To be fair to the Malaysian Property Developers. I have the following to
tell to my fellow Singaporeans:

Not all Malaysian properties marketed in Singapore are scams.

But beware of the " rental guarantee of x%% per annum." If they have no money
to pay you the guaranteed rental, there is not much you can do.

I have purchased TWO properties in Malaysia in the past. Thank God, I
managed to sell them (after holding them for years at a small profit, but
lost on the money exchange when I convert them back to SGD).

One condominium property (after owning it for fifteen years) could not be
issued with a Strata-Title Certificate -- finally I sold it off based on the
Assignment Documents. Because there was no Strata-Title Certificate, the
Management Corporation could not be formed by the Subsidiary Proprietors --
hence the developer may call the shots on the maintenance fees.

To rub salt into my wound, the rentals I received , after deducting all
expenses, were taxed at a flat rate of 30%% ( tax law for foreigners). That
is to say for every one thousand ringgit I received, it was taken as my
income, and I have to pay MR 300.00 for income tax.

On May 10, 9:37 pm, "spider" singnet.com.sg> wrote:

It is best to buy properties that have already been completed.
I notice that they are cheaper also.

...

"pg" catholic.org> wrote in message
news:bae2ec35-f4ea-4c8a-912b-ce7bb2d39ca1@p39g2000prm.googlegroups.com...

The land you stole has strata title or just stolen title ?