a reader (who chose to remain anonymous) wrote in with this email query:
hi,
of late, one landbanking company has been in the news and i wish to inquire whether profitable plots is in your stable of product providers?
regards,
mr lim
my comments:
thanks for your query even though u chose to remain anonymous.
for the record, promiseland independent does not even begin to explore to do business with any product provider that is not regulated by the monetary authority of singapore. and in it's website, The Monetary Authority of Singapore (MAS) said it doesn't regulate land-banking investments because these "typically involve investors acquiring direct interests in real estate rather than securities related to real estate."
and furthermore, agents selling products for land-banking companies currently do not require a licence by the authorities to practise.
beyond this, we are always guided by the principle of being prudent in choosing whom to include in our stable of product providers.
i hope i have addressed your query and thanks for visiting and supporting my blog.
God Bless.
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