Sabian Turbocharged August 19, 2015 Share August 19, 2015 Regulated by MAS also must think twice and hard. This one regulated by who? ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Porker Turbocharged August 19, 2015 Share August 19, 2015 I don't know what crowdfunding means. It is just a way of raising funds much like private placements, issuing bonds or IPO. Those are at the very least regulated. Retail "investors" please watch out. If something smells too good to be true then it probably is. I was at DBS recently and dressed in my usual t shirt, shorts and slippers. The bank manager (dressed in suit, tie and all) approached me and asked if I wanna buy their very excellent investment products. I think they should place the $ with me and I charge them a lump sum management fee instead 😂😂😂 Link to post Share on other sites More sharing options...
Kusje Supersonic August 19, 2015 Share August 19, 2015 Regulated by MAS also must think twice and hard. This one regulated by who? This is supposed to be regulated by MAS. Is this website approved or not? 3 The financial return model includes lending-based and equity-based crowdfunding. Where such a model of crowdfunding involves the offer of securities in the form of debentures or shares (collectively, securities-based crowdfunding, or SCF), they are subject to securities regulation in most jurisdictions, including Singapore. 4 MAS has been studying how to facilitate SCF as it can potentially offer an alternative source of financing for start-ups and SMEs. There are, however, significant risks associated with SCF investments, which tend to have a high probability of capital loss and are more illiquid compared to traditional securities investment instruments. Globally, SCF is still at a nascent stage of development, and very few jurisdictions have implemented a regulatory framework for SCF http://www.mas.gov.sg/news-and-publications/media-releases/2015/mas-sets-out-proposals-for-securities-based-crowdfunding.aspx Link to post Share on other sites More sharing options...
Blackyv Turbocharged August 19, 2015 Share August 19, 2015 If the return is so good, first to invest would be termasek... they have few tonnes of cash lying around waiting for good lobang... hehe... Link to post Share on other sites More sharing options...
Carnoob Supercharged August 19, 2015 Share August 19, 2015 This is supposed to be regulated by MAS. Is this website approved or not? Well, FAQ says no... Link to post Share on other sites More sharing options...
Showster Twincharged August 20, 2015 Share August 20, 2015 I genuinely hope they prove the skeptics wrong to show that fairy tales still exist. Link to post Share on other sites More sharing options...
Deividz 5th Gear August 20, 2015 Share August 20, 2015 (edited) Scam artists have no biz model. First to enter always will get their money back. Last few will ........... I seriously hope govt will regulate these nonsense soon. Edited August 20, 2015 by Deividz 3 Link to post Share on other sites More sharing options...
Hydrocarbon Turbocharged August 20, 2015 Share August 20, 2015 21%, GIC temasek got invest? 21%, must as well borrow from bank reach banker's limit already? so cannot borrow more? if banker don wanna lend, you want to? Bankers might not lend because of certain criteria that their banks have. Doesn't mean it's a bad investment. Companies such as Facebook and Google might not be able to get loans at their inception or at early stage, that's why there are angel investors / venture capitalists to look to. I'm not saying that this is the same, I'm just saying that it doesn't mean bank don't go in = bad investment. In fact, bank go in, can be bad investments too, just look at Lehman Brothers. Some companies might just need a working capital to tide over a short period of time, and thus, turn to platforms like MoolahSense. @omom has explained already. In any case, caveat emptor / investor. 3 Link to post Share on other sites More sharing options...
Carnoob Supercharged August 20, 2015 Share August 20, 2015 Well, I know this scheme since I was a primary school boy but it was not so advanced using the social media... One auntie will go around the neighbourhood and ask people to pool money together and every month the one who offers the highest interest can "borrow" the money to use and return with interest. In the end, the collection auntie will just abscond with the money and the neighbourhood lost about $100,000. No one can make a police report because it was illegal. So everyone sucked thumb...This is what I called as "neighbourhood bonding fund"... and now as technology advances, we called it as crowd funding bond... and from neighbourhood to SME... Sorry, as I said I'm a non believer unless MAS had stamped, chopped and endorsed the practice. 5 Link to post Share on other sites More sharing options...
Sabian Turbocharged August 20, 2015 Share August 20, 2015 Scam artists have no biz model. First to enter always will get their money back. Last few will ........... I seriously hope govt will regulate these nonsense soon. The fact it involves parting with your money and the offer of a possible return on it and it is not regulated by MAS in itself is already a red flag to me. Still need MAS to flag it? Anything that is not green lighted by MAS means red flag to me but that's just me. 7 Link to post Share on other sites More sharing options...
Blueray Hypersonic August 20, 2015 Share August 20, 2015 Regulated by MAS also must think twice and hard. This one regulated by who? I agree, mini-bonds, structured deposits etc are names that are still fresh in my mind. And if I recall correctly, investors who bought mini-bonds thru DBS HK were refunded in full, but not investors who bought thru DBS SG. So to me now, even if regulated and approved by MAS I also think hard first, cos over here consumers rights not very well taken care of. Link to post Share on other sites More sharing options...
ktnpl 3rd Gear August 21, 2015 Share August 21, 2015 Best to stay away from such dubious schemes. 1 Link to post Share on other sites More sharing options...
Budgetice 3rd Gear August 21, 2015 Share August 21, 2015 (edited) You may wish to refer to the FAQs on their web-site as I think those are rather comprehensive and cover what you are asking. Hi OmOm, Let the bros here digest the concept, P2P lending is not something new but there were too many scams happening recently. I believe your friend(s) also received some fundings to expand the business and they also wrote to MAS for some clarification. This resulted in the creation of a fintech committee. Hope they can do well and make a name for themselves in the right manner. Edited August 21, 2015 by Budgetice Link to post Share on other sites More sharing options...
Kumar123 Neutral Newbie August 27, 2015 Share August 27, 2015 good >>> > >> > >> > > Link to post Share on other sites More sharing options...
LiuDeHua 4th Gear August 31, 2015 Author Share August 31, 2015 Crowdlending sector seeks clearer rules http://www.businesstimes.com.sg/technology/crowdlending-sector-seeks-clearer-rules Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged August 31, 2015 Share August 31, 2015 basically what they do should be act as middle man nia.. what I am wary is the due dillgence done on these borrowers.... based on FAQ, it seems that not much is done except what is produced to them and lastly, we are not allowed to come into contact with these borrowers and ask questions..... sounds like the very simplified version of Shart Tank or Dragons Den Link to post Share on other sites More sharing options...
Enye Hypersonic August 31, 2015 Share August 31, 2015 if i wanna scam people's money, i would provide very low returns e.g. 2.6% p.a. since everyone is so wary of high returns Link to post Share on other sites More sharing options...
Mustank Hypersonic August 31, 2015 Share August 31, 2015 basically what they do should be act as middle man nia.. what I am wary is the due dillgence done on these borrowers.... based on FAQ, it seems that not much is done except what is produced to them and lastly, we are not allowed to come into contact with these borrowers and ask questions..... sounds like the very simplified version of Shart Tank or Dragons Den these professional fund raisers enjoy a commission but don't bear any risk risk is on the lender if i wanna scam people's money, i would provide very low returns e.g. 2.6% p.a. since everyone is so wary of high returns ↡ Advertisement Link to post Share on other sites More sharing options...
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