With recent reports that land banking company The Profitable Group is in trouble, it is no wonder that this advertisement appeared in The Straits Times today:
Walton International Group (S) Pte Ltd is the other major land banking player in Singapore. They must be feeling the pressure from concerned investors who have heard the news about The Profitable Group refusing to pay investors their promised returns.
The advertisement was cleverly crafted to gently convey a message of trust and reliability. The timing was deliberate, appearing on the 13 June papers which they know would carry reports of the 12 June protests at Speaker’s Corner against The Profitable Group.
Walton International Group (S) Pte Ltd (formerly known as Walton Development Asia (S) Pte Limited) was registered in Singapore in 1996, which gives them a 9-year headstart on The Profitable Group. One of the commenters on this Yahoo! article on The Profitable Group suggested that a company which has operated for 14 years in Singapore must be OK, otherwise it would have been shut down long ago.
I do not agree with this thinking. After all, troubled companies could fly under the radar for years before attracting adverse publicity. I will be doing my research and posting up a more detailed article about Walton International Group soon.
In the meantime, why not use these 3 common-sense guidelines to decide if you wish to invest with land banking companies?