Originally posted by abductboy:It's a Cat & Mouse game....
This scheme has grown way beyond our tiny island shore....
Thanks for the lead. Out to scam the rich Arabs?
I don't know.
I click the Middle East 'Tab' in the SE main page.
Thanks to redstone, kiyoshirou, laurence82 and brains.
please keep up the good work.
JP just sang 'lao shu ai da mi' (mice love rice) in the International Leaders' Conference. I kid you not. Seems that the Hongkies and Thais are more gullible than Singaporeans.
The CAD are really 'kiasu'. It is as if the info about NOP, NTI, China Dream, Sunshine Empire and EGA are not enough? We even brought ancient aromatherphy products from NOP & NTI!
The revelation was that the many BRM that I worship and idolise are actually ex-convicts.
No shame in that... illegal passport peddlar/forgers? Drunk driver? Personally, I have no issues with their pass criminal records and I am sure they have changed for the better, right? But some of them display character traits that suggest otherwise. If a BRM can betray friends, wife and even family to protect his interest in JP and JH's corporation, then... what kind of corporation have I joined? Or is it a mafia or cult?
Why should I still believe my BRM when Lorna Tan, Grace Chen and even Larry Haverkamp do not approve of this revolutionary business.
(Dramatic Music, Spotlight and Smoke from Dry Ice... and techno music)
Have I been cheated by my upline, my sponsor, my BRM... and ultimately my childhood friend? Of whom, he himself is cheated and lied to by JH and JP? Perhaps, I should give a quick call to ask my BRM asking him about the latest developments instead of logging online to check for updates?
"The views online are by our competitors from XXX and XYZ! Come to us for information! The newspapers are conspiring with the government to close Sunshine Empire down!"
- The ex-Illegal and hopefully reformed Passport Peddlar BRM, questioning the credibility of netizens.
"Our new company EmMax will be so powerful that no law can touch us!"
-JH, practising his powerful powers of persuasion, honed by years of selling illegal VCDs in pasar malams and debating with his NUS lecturers over the MLM industry.
A disillusioned SEM (Sunshine Empire Merchant),
observer82
p.s. thanks to 'jackiecheat' and 'brains' for your updates.
Originally posted by Observer82:"The views online are by our competitors from XXX and XYZ! Come to us for information! The newspapers are conspiring with the government to close Sunshine Empire down!"
- The ex-Illegal and hopefully reformed Passport Peddlar BRM, questioning the credibility of netizens.
Sounds uncannily like what the terrorists would say
Originally posted by kyoshirou77:Special ty to Volexr@HWZ
Money
Clients of MLM firm Sunshine Empire cry foul
Lorna Tan, Finance Correspondent
622 words
12 April 2008
Straits Times
English
(c) 2008 Singapore Press Holdings Limited
Many now worry they may lose their principal sums after their rebates were discontinued
PEOPLE who have put money with the controversial multi-level marketing (MLM) firm Sunshine Empire are crying foul after their monthly cash rebates were discontinued.
Many are also now worried about losing their principal sums worth millions of dollars.
Several participants have told The Straits Times that they have been offered an option by their 'upline' - the person who recruited them to Sunshine - to cancel their accounts in Singapore and transfer them to a Hong Kong company called EmMax.
They have been told that once the Hong Kong business is built up, their rebates will start flowing again.
The Straits Times reported in November that the Commercial Affairs Department (CAD) was investigating Sunshine, as its activities appeared more like those of a pure investment scheme, for which it was not licensed.
The firm invites people to become 'merchants' of online goods, ranging from health supplements to electronics. Concerns centre on the fact that participants can potentially pocket big monthly 'rebates', which are not guaranteed, without ever buying or selling these goods.
The rebates are based on the participants' cash outlay, as well as Sunshine's global turnover.
Six Sunshine participants were applying for refunds when The Straits Times visited the company's headquarters in Toa Payoh yesterday.
One, who declined to be named, said he placed $12,500 in a gold plan in August. He received two monthly rebates of about $700 each, but these stopped once the CAD began its investigation.
Another participant, who also sought anonymity, said she was 'very worried' about losing her savings of $35,000, which she placed in four gold plans from November to early this year. Her rebates have ceased in recent months.
'If Sunshine is declared bankrupt, I will not get my money back,' she said. 'Can the authorities give direction on what to do?'
She will not transfer her accounts to Hong Kong, as she is unsure if the move is legal because of the ongoing investigation.
Sunshine adviser and spokesman James Phang denied any knowledge of the alleged Hong Kong option when he spoke to The Straits Times recently.
'I'm under investigation, so I'm not at liberty to reveal anything,' he said.
'To my knowledge, there were no meetings at Sunshine (about the Hong Kong option). People can come in and out. They can join any company. I have no control over the members. They are independent people.'
Mr Phang did confirm that Sunshine had stopped giving rebates in the past few months.
It was earlier reported that Mr Phang was linked to a failed investment scheme that resulted in 1,000 Singaporeans losing about $2 million.
The Consumers Association of Singapore's executive director, Mr Seah Seng Choon, cautioned participants against transferring their money to Hong Kong, as it would put their investment outside Singapore's jurisdiction.
'Recovering money from a foreign entity is always difficult if the company is unable to continue its operation here as a result of the current investigation,' he said.
Mr Seah advised consumers unprepared to stomach further risks to ask Sunshine for refunds - advice he also gave in November. He urged consumers to report to the police any new development or changes made by Sunshine.
Sunshine was placed on the Monetary Authority of Singapore's investor alert list in September. This means it is not allowed to conduct regulated activities.
It is reported to have attracted 20,000 clients since it set up in Singapore in July last year.
The police declined to comment yesterday, as its investigation was still ongoing.
[email protected]
gt the link website--->http://www.straitstimes.com/Free/Story/STIStory_226364.html
Hmmm....
According to the article at http://www.straitstimes.com/Free/Story/STIStory_226364.html
"One, who declined to be named, said he placed $12,500 in a gold plan in August. He received two monthly rebates of about $700 each, but these stopped once the CAD began its investigation."
"
It is reported to have attracted 20,000 clients since it set up in Singapore in July last year."
Is that right? Did Sunshine Empire set up in July? And people who joined in August, just one month after it set up, only got $1400 back?
History of Se(the rise n fall of SE)
Rise
sunshine first set-up,attract a lot of so-call potienal invester.
Native teenagers from ite,poly,jc n etc soon join by word of mouth.
made dontation 2 NKF.
Fall
Se in msa n etc after 2 mths of operating.
msian start 2 exposed its plot by saying no project by SE.
tawiAN soon follow 2 exposed the plot.
SE will be closed down completely once CAD result is released. I can side bet this with any takers.
There's enough evidence to charge SE as a money game model which another words is illegal and the company is guilty of mis-representation. CAD is now pending investigation on evidence of its money laundering activities. Even if its not guilty for the 2nd charge, the 1st charge is enough to stop all its activities.
Jacky and James are all going to get whacked by the police but their worshippers may feel comforted to know that they already have a couple of millions in their offshore bank accounts.
I wont argue with those who doubts what i say here. My information comes from someone high up there. In fact he is one of the first 8 members who joined SE when it first started in 2006. For those in SE long enough, its quite easy to guess.
Singapore SE members will NEVER get back their capital from EMmax because Emmax existed for the Hong Kongers and those that sign up members for them, NOT free loaders that sit in Singapore waiting for their capital. Unless you sign members for EMmax, else u can kiss all your money good bye. I know that your upline has told you that you dont need to add in money or sign up members to get back your capital.... just watch: It will be communicated to you in 6 months time to sign members OR add money....
Why 6 months? - so as to keep you guys from applying for refunds and going to CAD so pro-actively withine these period of time till they are done with CAD and shifted all their assets out of the country!
And yes, i am also quite surprised to learn tonight that many SE agents have gone to CAD for help.. contrary to what most of us believe earlier that most SE agents are still sticking by JP closely.
We can soon close the thread for SE - I believe Emmax will not be as active in Singapore as SE cos not easy to convince Singaporeans to put money in an unknown/unheard company overseas....well then again - we never know.. haaa
who audit se??
price water house?
From NOP, collapse, then the crap NTI, changed name to Sunshine. Now new company Emmax.
10 yrs + of failed projects, companies which keep on closing down.
http://www.sunshine-smart.com/index.php?c=inoffice
Originally posted by redstone:From NOP, collapse, then the crap NTI, changed name to Sunshine. Now new company Emmax.
10 yrs + of failed projects, companies which keep on closing down.
in what ways did they failed? I feel they did a very good job swindling some people's money.
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　┗　　┃ ┃ JAMES PANG
天下æ¦åŠŸå‡ºå°‘林，天下è€�å�ƒå‡ºæ–°åŠ å�¡--〉JAMES PANG
http://emmaxindonesia.blogspot.com/
I remember one of my schoolmate, call Vic Chan... * heard that he's from D division*
Has been jump from sunshine empire to jatrosel company.... Is another new MLM company...
Just find out from my school mate....
He last time trying to brainwash me and ask to join sunshine empire by signing up a * GP * ....
Lucky i never join nor cheated by him....
If not i'm confirm in deep debt by now......... (*_*")
But i'm pity those who had been cheated by him..... they suffer more.... hard earn money disappear....
Having once been a founding distributor in the old days NTI and a business owner in Singapore, perhaps I should just take the liberty of joining in this heated debate over the controversy of SE. I simply couldn’t resist the temptation to write after navigating to 17 pages of varied comments. For interested readers, this may be a long post (since I am suffering from insomnia due to the coffee earlier), but rest assured this will probably be the most informative post in this 17 pages.
Being one of the founding distributors of NTI almost 6 years ago, I had the opportunity of knowing this bunch of SE leaders (or BRMs) when they were small fries. In less than 3 months of joining the company, I left due to the fact that I simply could not tolerate the ridiculous hype and lousy product series the company sported. At that time, I could be considered one of the leading distributors, with a sizeable network. I maintained casual contact with some of the current leaders, but did not question their endeavours whatsoever (purely friends).
Just before the start of the SE compensation plan, one of these leaders approached me to rejoin the gang. Perhaps being a business owner for long enough, and having the bad experience with the culture of the company in the past, I decided to carefully check almost every single document I could find. The plan seemed perfectly ok, with the exception of the “X number of years to pay out rebates” clause. In the end, I declined the offer.
In the following months, the hype grew, and as more people placed their money in as short term investments, money spun more money, and the rebates got higher. If one were to question the possibility of the business model being a money game, I would not beg to differ. However, I take a less critical position when it comes to such “taboo terms”.
Philosophically, this world is very much like a monopoly game-board. Everyone is out to fend for themselves and aim to be the last man standing. This includes official bodies. As politically wrong as it may be, we all know that throughout history, there has never been a political body that is free of corruption and self-serving people.
Having been in business for a good time in Singapore, we often lament the fact that the government (one run by a singular political party since it was founded), operates more like a company, with the exception that the accounts are never very transparent. They also don’t like to share the pie of riches, and will put everything in place to make sure we continue to be poor so we can work as long as we live.
From a solely personal point of view, SE is a money game. In fact, it is a very good one. The model channels money from the masses to a common pool, of which a percentage is drawn to rebate people monthly, and the rest invested into low-risk, high-return businesses, of which a portion of the profits are drawn back to further rebate these “investors”. For those who solely invest their cash, if all goes well, they would get back the maximum rebate amount in a short time. For those who wish to market this plan, it works well too, as long as there is proof of rebate and a proper commission scheme.
Making a logical comparison, the government bodies and public / private banks are not very much different. One the surface, the govt collects taxes and charges (and CPF), and makes investments here and there to increase their reserves. Banks take your money to do the same. Rebates are in cash or kind, and often a very low percentage of the invested amount. Below the surface these institutions simply take the fruit of your labour and regulate your consumption by giving you “money”, so that you don’t consume so much to the extent they have nothing to consume. A more detailed explanation can be found here - http://www.worldslaves.citymax.com/
Let’s analyze this whole episode from 2 perspectives:
1) Sunshine Empire
As with any business, you always seek the fastest way to make money. JP came up with this brilliant idea of take money from the public, using an MLM model of run a money game that rebates substantially and yet gives him the capital to start / buyout profitable business entities. Logically everyone gains, so the plan explodes. Housewives and students suddenly draw 5 to 6 figure income streams, and everyone is happy.
Seeing the massive influx of cash, the leaders and management continued to push for sales, without ever looking at the possible ripples of having ATM machines emptied every other day. To most people, and perhaps JP and friends, as long as everyone is happy things should be ok.
2) The Authorities
From the viewpoint of national income, with this plan rolling money around and out to investments in foreign land, with no particular channel of gain for the government, this is not a good business. Large incomes are drawn, and little taxes are paid, plus the outflow of funds to aid the development of foreign infrastructures.
To banks, imagine have millions of dollars withdrawn per month. I think this is quite direct.
Quite simply put, this whole episode can be described as a conflict of interests. What SE is doing is directly drawing resources of out the authorities’ resource pool, and making money elsewhere, and giving people a chance to report a less transparent income statement. What the government is doing is trying to stop SE before it grows to a size beyond their control, for if it does, it may almost topple the system of slavery. What would slave-masters do without their obedient slaves?
Regarding the issue of whether CAD froze the funds or not, it is up to the individual to imagine. I can only say, think logically, and would it be better for JP and gang to run away with the money, or to keep the ball rolling? I leave the answer to you, readers.
I sometimes marvel at how we Singaporeans can take in information wholesale from the press that is ranked as one of the last in the world, and a monopolized government comprising of ministers that draw 6-figure salaries.
Then again, this is perhaps success in propaganda, for the best slaves are those who think they are free.
GreenTeaLeaf,
You are spilling misleading crap.
This is a ilegal investment scheme and against the law.
All else you say is just crap, misleading information to confuse the Public, like when they say that HDB Center is Govt building so SE must be a legit company to have an office there.
When the truth is that HDB Center is a commercial premise and anyone can rent an office there.
Even now you SE are still trying to confuse people.
Go back to the hole you crawl out from.
Originally posted by GreenTeaLeaf:Having once been a founding distributor in the old days NTI and a business owner in Singapore, perhaps I should just take the liberty of joining in this heated debate over the controversy of SE. I simply couldn’t resist the temptation to write after navigating to 17 pages of varied comments. For interested readers, this may be a long post (since I am suffering from insomnia due to the coffee earlier), but rest assured this will probably be the most informative post in this 17 pages.
Being one of the founding distributors of NTI almost 6 years ago, I had the opportunity of knowing this bunch of SE leaders (or BRMs) when they were small fries. In less than 3 months of joining the company, I left due to the fact that I simply could not tolerate the ridiculous hype and lousy product series the company sported. At that time, I could be considered one of the leading distributors, with a sizeable network. I maintained casual contact with some of the current leaders, but did not question their endeavours whatsoever (purely friends).
Just before the start of the SE compensation plan, one of these leaders approached me to rejoin the gang. Perhaps being a business owner for long enough, and having the bad experience with the culture of the company in the past, I decided to carefully check almost every single document I could find. The plan seemed perfectly ok, with the exception of the “X number of years to pay out rebates” clause. In the end, I declined the offer.
In the following months, the hype grew, and as more people placed their money in as short term investments, money spun more money, and the rebates got higher. If one were to question the possibility of the business model being a money game, I would not beg to differ. However, I take a less critical position when it comes to such “taboo terms”.
Philosophically, this world is very much like a monopoly game-board. Everyone is out to fend for themselves and aim to be the last man standing. This includes official bodies. As politically wrong as it may be, we all know that throughout history, there has never been a political body that is free of corruption and self-serving people.
Having been in business for a good time in Singapore, we often lament the fact that the government (one run by a singular political party since it was founded), operates more like a company, with the exception that the accounts are never very transparent. They also don’t like to share the pie of riches, and will put everything in place to make sure we continue to be poor so we can work as long as we live.
From a solely personal point of view, SE is a money game. In fact, it is a very good one. The model channels money from the masses to a common pool, of which a percentage is drawn to rebate people monthly, and the rest invested into low-risk, high-return businesses, of which a portion of the profits are drawn back to further rebate these “investors”. For those who solely invest their cash, if all goes well, they would get back the maximum rebate amount in a short time. For those who wish to market this plan, it works well too, as long as there is proof of rebate and a proper commission scheme.
Making a logical comparison, the government bodies and public / private banks are not very much different. One the surface, the govt collects taxes and charges (and CPF), and makes investments here and there to increase their reserves. Banks take your money to do the same. Rebates are in cash or kind, and often a very low percentage of the invested amount. Below the surface these institutions simply take the fruit of your labour and regulate your consumption by giving you “money”, so that you don’t consume so much to the extent they have nothing to consume. A more detailed explanation can be found here - http://www.worldslaves.citymax.com/
Let’s analyze this whole episode from 2 perspectives:
1) Sunshine Empire
As with any business, you always seek the fastest way to make money. JP came up with this brilliant idea of take money from the public, using an MLM model of run a money game that rebates substantially and yet gives him the capital to start / buyout profitable business entities. Logically everyone gains, so the plan explodes. Housewives and students suddenly draw 5 to 6 figure income streams, and everyone is happy.
Seeing the massive influx of cash, the leaders and management continued to push for sales, without ever looking at the possible ripples of having ATM machines emptied every other day. To most people, and perhaps JP and friends, as long as everyone is happy things should be ok.
2) The Authorities
From the viewpoint of national income, with this plan rolling money around and out to investments in foreign land, with no particular channel of gain for the government, this is not a good business. Large incomes are drawn, and little taxes are paid, plus the outflow of funds to aid the development of foreign infrastructures.
To banks, imagine have millions of dollars withdrawn per month. I think this is quite direct.
Quite simply put, this whole episode can be described as a conflict of interests. What SE is doing is directly drawing resources of out the authorities’ resource pool, and making money elsewhere, and giving people a chance to report a less transparent income statement. What the government is doing is trying to stop SE before it grows to a size beyond their control, for if it does, it may almost topple the system of slavery. What would slave-masters do without their obedient slaves?
Regarding the issue of whether CAD froze the funds or not, it is up to the individual to imagine. I can only say, think logically, and would it be better for JP and gang to run away with the money, or to keep the ball rolling? I leave the answer to you, readers.
I sometimes marvel at how we Singaporeans can take in information wholesale from the press that is ranked as one of the last in the world, and a monopolized government comprising of ministers that draw 6-figure salaries.
Then again, this is perhaps success in propaganda, for the best slaves are those who think they are free.
Oh dear... this post has so many problems, it's hard to know even where to start.
Looks like this fella has fallen to James Phang's propaganda (even though he claims not to be a member). The best slaves are those who think they are free.
Originally posted by Phaze:Oh dear... this post has so many problems, it's hard to know even where to start.
Looks like this fella has fallen to James Phang's propaganda (even though he claims not to be a member). The best slaves are those who think they are free.
I agree with you
It has many problems one dont even know where to start
But a similar case happened when I lambasted a MLMer for comparing MLM company selling health products and hospitals & small stores.
They use a common denominator to do a comparison (in this case money investments or health products), while conveniently ignoring the background of these entities.
The tight financial regulations of banks and FIs, the expertise of doctors in the hospitals, the amount of professionalism in these entities would never be matched by mere MLM companies
I also thought that GTL is proposing that gabramant is a devil, and its allright to give our money away to another devil, doubling the stupidity of this argument.
Hi guys, I don’t think I have actually tried to represent SE as a legitimate company. The argument I am placing is not about whether they are legal or not. Read a bit into history, and you shall find that since there was civilization, there was war. Both parties take their claim to the throne, and the survivor tells the tale THE WAY HE WANTS IT TO BE TOLD. You are illegal if the authorities SAY SO.
From a moral standpoint, I believe both parties have the right to stick to their beliefs. JP believes that what he is doing is for the greater good, and that he has done nothing wrong. From his perspective, he did help a lot of people to make money, whatever means, so he should be on the moral high ground.
From the government’s perspective, they are trying to safeguard national interests, and prevent too much funds from flowing out of the country, affecting the local economy. For banks, apart from guarding their self interests, you can say they have to guard customer interests too, and it would be dangerous for the remaining customers of the bank should reserves be depleted rapidly (cutting short the rolling capital for investments).
In fact, I believe there exists in this forum people from other MLM companies trying to poach as well. No qualms about that, Singapore is indeed too small to not be tempted into cutthroat competition scenarios.
I’m not taking sides here. I may be travelling around now, but I still love Singapore for a place with unrivalled good food and many of my best friends. I may not be in SE, but I still maintain my friendship with those I knew back in NTI. What I am proposing, perhaps, is simply to take a rational viewpoint, so as to see the bigger picture.
Greentealeaf,
So from your perspective that we are all self serving beings, and that we should ignore rules and regulations if they do not serve our sole purpose of survival and prosperity, may I suggest afew of the following?
1. That when we are hungry, we can go steal food and eat
2. When we have the sexual urge, we can just go rape someone to quench our desire
3. That if we think our lives are being threatened by someone, that we can just kill that person ourselves, in order to preserve ourselves.
What I think you are advocating, is dangerous, and is a threat to our society, that everything is possible and justifiable by self!
GreenTeaLeaf,
You said: "From the government’s perspective, they are trying to safeguard national interests, and prevent too much funds from flowing out of the country, affecting the local economy."
That is SE propaganda.
What you surmise is what many Merchants have been told.
Nice try, but from what I read, it's just another un-balanced remark on your part.
Little explaination about the govt related..Not really a good post..
If you are the founding member, why not share their tatics which they used back then like I did on the first post on page 16.
Since both you and me was taught by James Phang directly just that you're senior than me, but with some differences still.
In fact, they have become smarter in some ways yet not many people know their tricks.
Originally posted by GreenTeaLeaf:Having once been a founding distributor in the old days NTI and a business owner in Singapore, perhaps I should just take the liberty of joining in this heated debate over the controversy of SE. I simply couldn’t resist the temptation to write after navigating to 17 pages of varied comments. For interested readers, this may be a long post (since I am suffering from insomnia due to the coffee earlier), but rest assured this will probably be the most informative post in this 17 pages.
Being one of the founding distributors of NTI almost 6 years ago, I had the opportunity of knowing this bunch of SE leaders (or BRMs) when they were small fries. In less than 3 months of joining the company, I left due to the fact that I simply could not tolerate the ridiculous hype and lousy product series the company sported. At that time, I could be considered one of the leading distributors, with a sizeable network. I maintained casual contact with some of the current leaders, but did not question their endeavours whatsoever (purely friends).
Just before the start of the SE compensation plan, one of these leaders approached me to rejoin the gang. Perhaps being a business owner for long enough, and having the bad experience with the culture of the company in the past, I decided to carefully check almost every single document I could find. The plan seemed perfectly ok, with the exception of the “X number of years to pay out rebates” clause. In the end, I declined the offer.
In the following months, the hype grew, and as more people placed their money in as short term investments, money spun more money, and the rebates got higher. If one were to question the possibility of the business model being a money game, I would not beg to differ. However, I take a less critical position when it comes to such “taboo terms”.
Philosophically, this world is very much like a monopoly game-board. Everyone is out to fend for themselves and aim to be the last man standing. This includes official bodies. As politically wrong as it may be, we all know that throughout history, there has never been a political body that is free of corruption and self-serving people.
Having been in business for a good time in Singapore, we often lament the fact that the government (one run by a singular political party since it was founded), operates more like a company, with the exception that the accounts are never very transparent. They also don’t like to share the pie of riches, and will put everything in place to make sure we continue to be poor so we can work as long as we live.
From a solely personal point of view, SE is a money game. In fact, it is a very good one. The model channels money from the masses to a common pool, of which a percentage is drawn to rebate people monthly, and the rest invested into low-risk, high-return businesses, of which a portion of the profits are drawn back to further rebate these “investors”. For those who solely invest their cash, if all goes well, they would get back the maximum rebate amount in a short time. For those who wish to market this plan, it works well too, as long as there is proof of rebate and a proper commission scheme.
Making a logical comparison, the government bodies and public / private banks are not very much different. One the surface, the govt collects taxes and charges (and CPF), and makes investments here and there to increase their reserves. Banks take your money to do the same. Rebates are in cash or kind, and often a very low percentage of the invested amount. Below the surface these institutions simply take the fruit of your labour and regulate your consumption by giving you “money”, so that you don’t consume so much to the extent they have nothing to consume. A more detailed explanation can be found here - http://www.worldslaves.citymax.com/
Let’s analyze this whole episode from 2 perspectives:
1) Sunshine Empire
As with any business, you always seek the fastest way to make money. JP came up with this brilliant idea of take money from the public, using an MLM model of run a money game that rebates substantially and yet gives him the capital to start / buyout profitable business entities. Logically everyone gains, so the plan explodes. Housewives and students suddenly draw 5 to 6 figure income streams, and everyone is happy.
Seeing the massive influx of cash, the leaders and management continued to push for sales, without ever looking at the possible ripples of having ATM machines emptied every other day. To most people, and perhaps JP and friends, as long as everyone is happy things should be ok.
2) The Authorities
From the viewpoint of national income, with this plan rolling money around and out to investments in foreign land, with no particular channel of gain for the government, this is not a good business. Large incomes are drawn, and little taxes are paid, plus the outflow of funds to aid the development of foreign infrastructures.
To banks, imagine have millions of dollars withdrawn per month. I think this is quite direct.
Quite simply put, this whole episode can be described as a conflict of interests. What SE is doing is directly drawing resources of out the authorities’ resource pool, and making money elsewhere, and giving people a chance to report a less transparent income statement. What the government is doing is trying to stop SE before it grows to a size beyond their control, for if it does, it may almost topple the system of slavery. What would slave-masters do without their obedient slaves?
Regarding the issue of whether CAD froze the funds or not, it is up to the individual to imagine. I can only say, think logically, and would it be better for JP and gang to run away with the money, or to keep the ball rolling? I leave the answer to you, readers.
I sometimes marvel at how we Singaporeans can take in information wholesale from the press that is ranked as one of the last in the world, and a monopolized government comprising of ministers that draw 6-figure salaries.
Then again, this is perhaps success in propaganda, for the best slaves are those who think they are free.