MLM Companies
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Hmm, certainly with this uproar of scams or really the MLM stuff.
I think the authority should made it compulsory advertise their balance sheet at least once a year hor ... or if the MLM company don't have budget for newspaper advertisement, it should at least put their balance sheet on their website.. and of course it has to be .sg domain .
On top of that they should be audited twice instead of the yearly accounting period.
And also. their license has to be renewed every year, and we have officer from CAD to visit the company on adhoc basis to see how the company runs and of course, we can add more tax for renewing MLM licenses
And also, the authority should sand box them in one area, just like factory work in JTC or car workshop in Sin Ming Autocare or AMK Autocare.
Sandbox them in ... one area then we can have more tables and coffeeshops nearby for them to do their rapport or they call Meeting before meeting or they use the coffeshop as an excuse to say it has nice food nearby..etc then after that tell them to go to the MLM company.
And also i will propose a taxi stand there for the member to talk "Keng" plan till midnight and let our cabbbie drive you home sweet home. The cabbie uncle will be overjoyed le.
Now i am looking which office building should i sandbox them?
Somewhere near the outside city area perhaps?
This should create a public trust for the general public don't you think so??? -
I think if they are not sourcing for public investment, they don't have a legal obligation to release their balance sheet. -
That's why ... it serve as a public awareness.., or maybe we make it compulsory for the MLM to include their balance sheet in their compensation plan?Originally posted by Parka: I think if they are not sourcing for public investment, they don't have a legal obligation to release their balance sheet. -
btw, pls close this topic and continue discussion at
MLM Companies - How to regulate them?
Fireice please close this topic... sorry i only know fireice as the moderator