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Articles tagged with: Landbanking

Written By: Tiang Chuan on April 25, 2013 No Comment

In the continuation of the hearing of the Profitable Plots case, a prosecution witness told the Court yesterday that the Boron scheme was “not viable”, reports the 25th April 2013 edition of The Straits Times (Investment scheme was ’not viable’).

A  specialist in evaluating business sustainability from auditing firm Ernst & [...]

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Written By: Tiang Chuan on April 23, 2013 2 Comments

The trial of the 3 directors of landbanking firm Profitable Plots began yesterday, reported the 23th April 2013 edition of The Straits Times (Sham investment plot motivated by directors’ greed: DPP).

Deputy Public Prosecutor Luke Tan said that Profitable Plots’ directors were motivated by greed in coming up with the [...]

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Written By: Tiang Chuan on March 28, 2012 No Comment

The 3 directors of landbanking firm Profitable Plots were charged in court yesterday over investments related to an industrial lubricant called Boron. Each director was charged with 86 counts of cheating US$2.4m (The Straits Times -  Profitable Plots directors charged with cheating). Only US$3,625 have been recovered.

There was however, no charges [...]

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Written By: Tiang Chuan on February 21, 2012 No Comment

The Commercial Affairs Department (CAD) have started investigations on another landbanking firm – Edgeworth Properties, reports the 21st Feb 2012 edition of The Business Times (CAD on trail of Edgeworth Properties?). This comes one-and-a-half-years after the probe on landbanking firm Profitable Plots.

According to the report, instead of transferring the land titles [...]

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Written By: Tiang Chuan on November 19, 2011 No Comment

A director of landbanking firm, Profitable Plots, have failed to get back her passport after a second attempt, reports the 19th November 2011 edition of The Straits Times (Profitable Plots director can’t get back passport). She made the first attempt in May this year.

The Singaporean requested to be allowed [...]

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Written By: Tiang Chuan on November 9, 2011 No Comment

According to the 09th November 2011 edition of Today (Profitable Plots sends legal letters to SIAS, CEO), Securities Investors Association of Singapore (SIAS) and it’s CEO, Mr David Gerald, have received lawyer letters from Profitable Plots on the latter’s consideration of defamation suit [...]

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Written By: Tiang Chuan on October 3, 2011 2 Comments

A landbanking firm claims that they have never lost money for their clients. They claim that their accounts have been vetted by a renowned auditing firm and they have very strict criteria in selecting their projects. Sounds to be the perfect investment! But let’s cool down and think through the possible issues.

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Written By: Tiang Chuan on September 3, 2011 No Comment

In a development that would have made investors in landbanking firm Profitable Plots heave a huge sigh of relief, the Singaporean director have returned from Britain on August 29, reports the 03rd September 2011 edition of The Business Times (Profitable Plots director returns from Britain).

In a bizarre [...]

Written By: Tiang Chuan on July 9, 2011 No Comment

The Subordinate Courts have granted a 4 months extension to the Commerical Affairs Department (CAD) for the probe on landbanking firm Profitable Plots, reports the 09th July 2011 edition of Today (CAD given yet more time for probe). The time extension is to allow CAD to received a ‘crucial’ expert report [...]

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Written By: Tiang Chuan on May 25, 2011 No Comment

The Securities Investors Association of Singapore (SIAS) has urged Profitable Plots to communicate with their clients and give an explanation on the defaults, reports the 25th May 2011 edition of The Business Times (Profitable Plots urged to explain defaults to investors), The Straits Times (Don’t keep clients in the [...]

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