Parallel importer Frankel folding up over debts

[User12343]

i believe the financial system in sillypore is very much more prudent and careful with who they loan money. if one has a shady credit history, no banks will be stupid enuf to loan out .

[Ahyoo2002]

I think loan is likely taken care by bank or finance co, should not be due to bad loan that bring down all this PI.

[Genie47]

Intense competition is good. Kill the weak companies. It's not about sales numbers only. It is about management of a business. Soon, we might see the killing of many PIs until left 2-3 left to dominate and fight against ADs.

[Ahyoo2002]

There are way too many PIs around. Some of them is like the shop in Sim Lim Square, open for sometime, if something wrong, they closed and change the name again.

 

Looking at newspaper ads on Sat, I am confused with so many PIs around.

[Guest Julio369]

i guess they can play around the system. if theirs is in-house finance, it will be worse.

[Route88]

Nowadays too many small PI emerged,yes the stronger and competent one will survive.Its not only about sales ,service and warranty too

[Lobangking88]

Most probably becos believe they had the credit arm that provides financing too.

I believe there would some winner customers. those that used their in house financing few years ago now no need to pay back ? no need to pay loan liao ?? since no co ?

[Babyt]

i remembered someone once keep posting 'dont buy from frankel motor' i think he noes whats going on inside liao.

[Picanto]

or maybe he have something against frankel?

[Booboon]

Speaking of PI, another PI that seems to run into trouble is UNeeKu .

Edited December 25, 2007 by Booboon

[Billyyeo]

Bro,

you mean Yuniku at MACKAZIE road, i have book a Sienta from them. should be delivering by this week.

[Phewit]

Bro r u very sure Yuniku got problem also? Because I nearly bought an airwave from them but I changed my mind after doing my sum. Holding back for a few months. So what type of problem r they having bro? If not convenient to expose here maybe can PM me. Thanx.

[Best_ctzn]

Actually just few days ago, I heard from somebody in the car trade that Frankel is only the tip of iceberg. He said it had something to do with the underdeclare of OMV, and subsequent government actions (not that Frankel is sure due to that). The principle fine will come to few hundred thousands and each car fined few times of underdeclared duty. So each guilty PI will need to pay > million dollars, depending on their guts. If the company not financially strong, bankrupt is the only result. He advised not to buy from many PIs in the big Ubi building as many are in trouble. That is why I do not want to get from PI in recent car purchase, better safe than sorry. But I not saying every PI in trouble. Those that are clean and those that are strong sure can survive, just that you have to 'po' the correct ones.

[Erasure]

Hijack, Hijack

 

Question. I received a letter from LTA to inform me that that the OMV for the Hyundai I deregistered 3 years ago has been revised upwards and I am entitled to additional PARF rebate of close to S$1,000.

 

The problem is that this is only paper money and I can only use it when I register a new car?

 

What can I do with this paper money? Keep it until I buy a new car or sell it away?

 

Does this means that the agent underdeclared the OMV and has now been caught and dealth with?

[Mlimhs]

Oh no...my wife's relative's WISH will be afftect for their workshop servicing in the near future?

 

Already highlighted to them after reading this.

 

Thanks for your info.

[Phewit]

But Yuniku at MacKenzie or Leng Kee. None at Ubi.

[Sniperben]

Validity of the PARF/COE Rebate

All PARF/COE rebates are valid for 12 months from the date of de-registration of the old car (PARF rebate) or vehicle (COE rebate).

 

 

How to Use PARF/COE Rebate

You can use the PARF/COE rebate to offset the various upfront vehicle taxes and fees when you register a car, namely, the Additional Registration Fee (ARF), the COE Quota Premium (QP), the Registration Fee (RF) and the $10,000 used car surcharge (for an imported used car from 1 September 2007). Any excess amount that is not used will be forfeited. You can also use a COE rebate under your name to offset the Prevailing Quota Premium (PQP) when you renew your existing vehicle's COE.

You can apply to LTA to split the value of your PARF/COE rebate into smaller values. Pay a $10 (before GST) fee for each rebate generated.

You can also combine multiple number of PARF/COE rebate and use it when registering a new car or imported used car (from 1 September 2007). You only need to notify your car dealer before the car is registered with LTA.

You can transfer the PARF/COE rebate to another person if you do not intend to use it. A $10 fee is payable for every transfer.

Both the PARF and COE rebates are non-refundable in cash.

 

source: http://www.onemotoring.com.sg/publish/onem...OE_Rebates.html

[Amazon777]

Bro, I thought u driving Latio sports? So fast, now change car already? I still remember your car no. came out 4D 1st prize on the day I met you and others on some bridge installation. Wopian, stil feel sore not buying your car no. that weekend.

Edited December 26, 2007 by Amazon777