Profitable Plots Investors hold protest at Speakers' Corner

QX179R SG

SINGAPORE: Some investors of Singapore-based investment firm Profitable Plots took to the Speakers' Corner on Saturday afternoon to protest against the company.

A petition was also passed around, asking the authorities to step in.

Profitable Plots is on the Monetary Authority of Singapore's Investor Alert List.

The investors claim they are owed between a few thousand dollars and up to S$200,000.

They had invested in land in the United Kingdom and the Philippines.

One investor said he invested S$180,000 in eight parcels of land slated for housing development.

But he said it was later revealed that the land had been designated as "green belts".

He said: "Nothing was said about green belt. It had no clue that green belt land are basically conservation land where the prospect of development is zero or maybe five per cent."

- CNA/vm

Fcukpap SG

as with other land banking scams....this is serious and another overlooked so called investment products....

they are around us....and an investigative committee on such products should be conducted....

on the whole.....CAD should have more issues to work on than ever because investment scams and economy downturn are correlated....

Fcukpap SG

if one is unsure about land development laws in foreign country....stay away....neither do the sales people trying to con you that they know and promise great land values and prospects etc....

BE ALERT!

Asromanista2001 SG

simple lah, if the damn thing is so profitable in England or Australia, you think the Angmohs will be so good let you make profit from their fellow Angmohs meh ?

they need your money to pay off the earlier Angmoh investors only !

all those crap ads in the papers about profitable properties in Australia by buying houses then renting out.........aiyah, if really so good they will let us have this kind of lobangs meh ?

Rooney9 SG

steve mahon is the director of the company!!!!! wonder if other ESPN football pundits is also a director or employee of this company?

Asromanista2001 SG

maybe Ian Rush is his partner leh ?

then big boss is actually Kenny Dalglish !

after this, they will start........

'' Sure-Profitable Plots ''

eh, the company is Profitable Plots, right ? so the whole thing was a PLOT to con locals , it's only Profitable for Angmohs only !