Date: April 25, 2011
SIAS has been aware of the plight of investors, who are SIAS members, that have invested their hard earned monies in various Profitable Plot products. While the company is current under CAD probe, investors are anxious about their investments. It is estimated that there are 1500 local investors and a total of 4000 investors affected globally.
The Profitable Plot investors claimed that they have been kept in the dark by the company with respect to their investments. A group of Profitable Plot investors has approached SIAS to seek help to fight for their rights and assist in the recovery of their investments.
Some of the investors say that they should not have been sold these products in the first place. According to them, they have placed their hard earned retirement funds and savings into investment schemes that have not been contractually honoured. Investors claim that the risks were never fully explained and were presented with promises of high returns. Now they say they are in a quandary.
SIAS is conducting a dialogue session with all Profitable Plot investors on 28th April, 7pm at MND Auditorium, to understand their plight as investors and to discuss possible actions they may choose to take to recover their investments. SIAS will also assist with legal counsel.
Concerned Profitable Plot investors who wish to attend this dialogue session have to be SIAS Members and can do so by registering online at www.sias.org.sg. Attendees have to be members of SIAS.
The SIAS has been acting on the interest of investors since its inception with the CLOB issue. Since then SIAS has successfully championed cases like the China Aviation Oil debacle, organizing dialogue sessions for the Lehman Minibond case and currently SIAS has been recommending to SGX on additional safeguards for S-Chip companies.
David Gerald
President & CEO
For Securities Investors Association (Singapore)
*Please note error in earlier reports. The dialogue session is on 28 April 2011 instead of 28 May as reported. The dialogue session is open to ONLY Profitable Plot investors. All attending must show proof, for example receipts, certificates, title deeds, AP1s, TP1s, etc.
