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TODAY Wine investors see red by Cheow Xin Yi 04:46 AM Jun 17, 2011 SINGAPORE - A week after news of a police probe into an alleged investment scam involving Premium Liquid Assets' (PLA) Hong Kong office hit the headlines in the territory, Singapore investors of the locally-incorporated wine investment company are also searching for answers about their investments. According to an automated reply sent to investors who emailed the company, the Singapore branch of PLA is "currently in the midst of handling a legal issue pertaining to our business partner in Hong Kong". The email added its Hong Kong office chief executive and director is "suspected of fraud", and the firm's Singapore and Malaysia branches have reported the matter to "relevant authorities and are cooperating with the police and related departments" to resolve the issue. "With sincere apologies, we are unable to officiate any liquidation or new investment at the moment ... We seek your kind understanding if your liquidation payment has been delayed," said the email. The email did not name the director in question, who is reportedly missing as Hong Kong authorities investigate a case which could involve more than 400 investors and alleged losses of HK$50 million. The wine investment circles here refer to the man as "Christopher Koo". When contacted, a Singapore police spokesman said: "It is inappropriate to comment on police investigations, if any." Investors MediaCorp spoke to have expressed frustration at the uncertainty. One of them, who only wanted to be identified as Francois, said his only point of contact is his PLA broker, who told him to "wait" pending internal and external investigations. The French national said he has invested about S$29,000 in wine portfolios through PLA since 2009. Although the lights were switched on when MediaCorp visited PLA's Ngee Ann City office on Monday, no one answered the door when this reporter rang the doorbell. Some investors have turned to legal experts for help. Lawyer Sean La'Brooy, from Wee, Tay & Lim LLP, was approached by about 20 PLA investors on Monday and he is now "exploring legal options" with them. Other investors have held preliminary talks with provisional liquidators and asset recovery firms. It is believed there are between 100 and 400 PLA investors in Singapore, with investment amounts ranging from between S$7,000 and S$160,000. The Consumers Association of Singapore (CASE) has received one complaint since March regarding PLA, but the consumer body's executive director Seah Seng Choon said the consumer body does not oversee investment-related matters. Wine investments are also not regulated by the Monetary Authority of Singapore, noted Mr Seah. A check with the Accounting and Corporate Regulatory Authority (ACRA) showed PLA as a S$300,000 paid-up limited exempt private company which was incorporated in 2005. The records list a Mr Woo Kuan Yong as a director. When MediaCorp visited his flat on Wednesday, Mr Woo told MediaCorp that he was asked by his step-son, Mr Eldric Ko, to "register the company" but he has never been to the firm's office. Mr Woo's wife said she last spoke to Mr Ko, who had called from Bangkok in April. She added that subsequent attempts to contact him on his Singapore mobile phone have been unsuccessful thus far. --------------------------------------------------------------------------------
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Hope this is helpful and drive safely... for the guys do try to come back with 3 legs
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Hi, i looking to buy a few plain Hanes Beefy-T tee shirt to replace my old ones. Anyone know which department stores/shop still selling them? Thanks.
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@wt_know say one
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Taking my bed out for sun tanning is out! Any other suggestions?? Where can find bed bug killing power/solutions??? These are really blood suckers!!! Thank you very much in advance....
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Hi Guys, Please advise on the location and the price .... how about bowling? where have good place to play ... thanks
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Hi All, Looking to get abt 5-12 bottles of 5l of prayers oils and a few other items. Cost have been increasing in Singapore. Anyone know the factory outlet in Malaysia. The furthest i will go is Malacca. If anyone got can pm me the full address?
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Hi..........I was involved in an accident this year and was diagnosed as whip lash but now my lawyer said i can only get about 2k plus only after taking away legal and medical cost........... and when asked them, they said must see doctor for reports and get treatments here n there but still not confirmed of any help............ all this while i have neen seeing the sinseh at the YISHUN the very big one as if i go doctor, would cost a bomb........... any1 knows any lawyers that can take over my case
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Hi All, I will be getting my Sunny soon. I does not come with sports rim. I would like to change it to sport Rim & Quiet tyre. I am new to Rims & Tyres. Any recommendations? I have a tight buget of $500. Does you guys think I can get a 14" Rim and tyre with that amount? I will trade in the stock tyres. Cheers
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This is what i was trying to stress in previous thread, many of us can choose to slow down, but if the whole country is slowing down to have the work-life balance, who is going to cheong out there to make sure the economy continue to perform and sustain? Fortunately there are still ambitious young graduates (despite some strawberry) who are hardworking. On the other hand, we also see many members acknowledge the trade off (income vs time) at personal level, but at the national level, things will not be good. Dun turn this into bashing, we can discuss about your personal choice and the trade off.
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As in the title.
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Any one know? how much is the market rate for monetary per month to be justifiable for a engineer working in SA?
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as per topic
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Heard from some ALTIS owner they do not know they are buying a made-in-thailand car ...
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How do you know, if your car is struck by lightning during a heavy downpour ? will car just stall or will you fell anything, like being electrocuted ? Is it dangerous ?
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Former chief of defence force Neo Kian Hong, 49, will be appointed Permanent Secretary (Education Development) from July 1. With his appointment, the Education Ministry will have two permanent secretaries. Ms Chan Lai Fung, who has been Permanent Secretary (Education) since November, will continue in that post. Mr Neo joins the Administrative Service after completing an Advanced Management Program at Harvard University. He had retired from the Singapore Armed Forces (SAF) this year after an illustrious 30-year career. A SAF Overseas Scholar, Mr Neo was promoted to the rank of Lieutenant-General. He was chief of defence force from 2010 to March this year, when he led a push to have soldiers train with laptops and handheld gadgets.
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..FIVE POLICE CONSTABLES FACE 16 ROBBERY CHARGES Bernama
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I am looking for a BMW 7 series or Mercs S class. Anyone know where can rent?
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Hi all, Wanted to know the correct technical specifications of the Hyundai Sonata, Kia Magentis, Skoda Superb and Toyota Crown taxi on our roads? such as: a) engine capacity, b) horsepower, c) torque, d) Kerb weight & e) gearbox spec Thank you very much. Regards,
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Hi all, when i buy a new car, how i know get new car or showroom car? thanks for any info/ reply
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Found this in another thread. Quite informative yet tiko. Dunno where to put hahah
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Hi, may i know how to join SKC, i need information on -What are the things i need -How many people i need in a team -Do i need to have my own go kart -How much -etc. Cos i can;t find how to join on their website planing to join the 2012 season, but my parents say must see how much before they sposer me to go since i have experince go-karting befor eand love it -Btw i am 13 so i am joing the junior cat :)
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I mean without the F1 walkabout pass we still can go there walk walk. Want to catch a glimpse of the F1 cars on action. Any lobang where can see beside Marina Square? From the circuit map I think a good place to be will be the bridge across Marina Square and Millenia Walk. Do you think they will block it off? Cos it is public area for shoppers to cross over so they cannot block right.
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i keep hearing cracking sounds in 1 of my speaker in my stock speakers after replacing the HU. i din notice last time have or not but it's been a year and the problem still persists and the shop tat helped me told me get a woofer can solve but i fixed woofer liao still cannot solve. 1 of the back speakers (suppose to be a sub) is still having cracking sounds like the speaker cannot take the sound like tat...but cannot be even if i switch on soft the crackling still have. sometimes the cracking stop but most of the times have. anyone know reliable audio shop tat would try to smoke me? -
Recently my wife was approached closed door on the above slimming method. Touting using all natural ingredients, no-hunger, no-subsequent weight gain, blah blah blah, even its promotional brochure showed our MM Goh and Health minister and another VIP I forgot, that 'suggested' them to be among its clients. It is basically eating some supplements over 3 months to balance all the smoky technical jargons, and your body will be set good for life. The catch: S$2288! It claimed to have 10 years presence here though I have never ever heard about it before. What I do not like is that a preliminary check was executed with a OSIM weighing machine, then you will be bombarded you you are this age but your body is 10+ years older, and your body got so much fat above norm that it can be rid of by exercising, very much using scare tactic. And if you bring up cost, the response would be that isn't your health worth more than the this money blah blah blah? Like I am sinning by not buying this product, worse still, not getting for your loved ones. Very much playing on guilt conscience! Anyone has any experience on this?
