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Hey guys, I saw this investment co doing some marketing stuff in Suntec and was told that they give 12.5% over max 12 months. Could be shorter if the sales of land is through like in 9mths, so effectively you can get like 16% per annum. Lastly, the only risk i see is, because the investment is done is Sterling pounds, so might lose on exchange rate. Anyone has experience with this investment tool?

This shouldn't be surprising news. Just hope nobody fell for this 'wonderful investment'. ----- ESPN suing Profitable Plots for failing to pay up by Ng Jing Yng 04:47 AM Jun 10, 2011 SINGAPORE - Broadcaster ESPN Star Sports is suing landbanking firm Profitable Plots, which is under police investigation following complaints of cheating, for failing to pay close to US$4 million (S$4.9 million). While a default judgment was issued in December against Profitable Plots, after it did not appear in court, the money has not been paid to date. ESPN is also claiming damages for misrepresentation, conspiracy and fraudulent trading in the lawsuit against Profitable Plots' directors John Andrew Nordmann and Mr Timothy Nicholas Goldring, which they have denied in their defence filed in April. Court documents state that the two companies had entered into an agreement in November 2007, which entitles Profitable Plots to air its advertisements and sponsor some of ESPN's television programmes for three years. ESPN's lawyer See Chern Yang of Premier Law said the landbanking firm has defaulted on payment since April 2009, and after several meetings between December 2009 and June last year, the directors only kept giving verbal assurances. In its court papers, the broadcaster alleged that Profitable Plots and its related companies had suffered losses of S$25.8 million in 2009 and that the two directors had not only failed to ensure sufficient finances to fulfil agreements, they gave a false impression the business was profitable, with the intention to deceive creditors. In response, Profitable Plots' lawyer Roy Yeo of Sterling Law Corporation said his clients did not proffer any oral assurances to make payment but were given a time extension by ESPN after they had explained the firm's difficulties. In their court papers, the two directors claimed that ESPN was, on its own accord, "happy to continue" with the agreement, as it would have otherwise lost a considerable amount of content from their channel without Profitable Plots' advertising. The men claimed that ESPN withheld suspending the agreement due to its "own commercial reasons". ESPN has since filed a reply refuting that there was any agreement to allow delay of payment and said the defendants had admitted the debt by giving two post-dated cheques that were not encashable eventually. The broadcaster added that it terminated the agreement after the defendants did not respond to several warnings and notices for payment. Meanwhile, investigations by the Commercial Affairs Department into Profitable Plots are ongoing after 229 complaints were made by investors who claimed they were cheated of S$23.5 million. No criminal charges have been pressed on the company's directors and the matter is due in court July 8.

Mitsubishi Motors erases operating loss Thu Feb 9, 2006 1:34 PM GMT163 By Chang-Ran Kim, Asia auto correspondent TOKYO (Reuters) - Mitsubishi Motors Corp.'s operations turned profitable for the first time in 11 quarters, thanks to cost cuts and a softer yen, the company said on Thursday, although sales disappointed in the crucial U.S. and Chinese markets. MMC, which came under the consolidated accounts of sister company Mitsubishi Heavy Industries in December, said October-December operating profit totalled 1.62 billion yen (7.8 million pounds) versus a loss of 9.97 billion yen a year earlier, putting it within reach of its unchanged full-year forecasts. At the net level, it posted a loss of 4.35 billion yen in the third quarter, narrowing the loss from 49.44 billion yen. For the full year to March 31, Japan's only unprofitable car maker kept its projection for a net loss of 64 billion yen and an operating loss of 14 billion yen but said it hoped to do better, fuelled by sales of newly launched vehicles. "We're expecting to boost revenue quite a bit in the (current) fourth quarter and translate that into profits," said Hiizu Ichikawa, managing director in charge of finances at MMC. "The latest results put us well within range of our full-year forecasts," he told reporters. "We want to exceed those numbers as much as possible." Global retail sales during the three months grew 6.9 percent to 326,000 units thanks to solid growth in Europe, Japan, the Middle East and Latin America. But a mere 2.6 percent rise in U.S. sales from rock-bottom levels a year earlier dealt a blow to revenue, which fell 1.6 percent to 538.35 billion yen during the three months. The end of a deal to supply vehicles for former shareholder DaimlerChrysler's Chrysler brand also hit revenues, MMC said. "High gasoline prices and a shift in market preferences had an impact, and sales (in the United States) were slower to recover than we had anticipated," Ichikawa said. Last year, MMC launched the Eclipse sports coupe and Raider pickup truck as many consumers shifted to more fuel-efficient vehicles such as small sedans and crossovers. A healthy North American operation -- a cash cow for most of its domestic competitors -- is crucial for MMC to nurse its overall business back to health, and executives are counting on more new products, including the Outlander SUV, to drive U.S. sales up in 2006. MMC also counts China and Taiwan among its most strategically important markets. But combined sales there fell about 20,000 units short of expectations in the business year to date, Ichikawa said.