Friends, Please dont invest in any land plot for the time being as Walton International Property Group (M) Sdn Bhd is being raided by Bank Negara Malaysia on 5 March under Exchange Control Act (ECA) 1953. The raids were simultaneously conducted at the premises of the company in Kuala Lumpur (W. Persekutuan), Kota Kinabalu (Sabah) and Kuching ( Sarawak ) following complaints received from members of the public. Relevant documents of the company were seized for purpose of the investigation.
According to Walton website, Walton International Group is Canada’s worldwide leader in land asset management offering great real estate investment opportunities through Land Banking - an area traditionally reserved for the wealthy and large corporations – to virtually anyone.
Founded and headquartered in Calgary Canada, some 20 years ago, Walton has offices in Edmonton , Vancouver and Saskatoon. It also has an international presence in Hong Kong (12 years), Singapore (6 years),Japan (3 years) and recently in Malaysia enabling Walton to offer personal service to all our clients local and also overseas.
Walton International Property Group (M) Sdn Bhd Website - http://www.waltoninternational.com/
This is the original press statement from Bank Negara Malaysia:
Bank Negara Malaysia Raids Walton International Property Group (M) Sdn Bhd
On 5 March 2009, Bank Negara Malaysia raided Walton International Property Group (M) Sdn Bhd under the Exchange Control Act (ECA) 1953. The raids were simultaneously conducted at the premises of the company in Kuala Lumpur (W. Persekutuan), Kota Kinabalu (Sabah) and Kuching ( Sarawak ) following complaints received from members of the public. Relevant documents of the company were seized for purpose of the investigation.
Members of the public are advised to be cautious of this type of land banking schemes promoted by the company. Any elements of deposit-taking activities and public offerings such as ‘interest schemes' or investment in real estates schemes (better known as ‘real estate investment trusts' - REITs) should be referred to the appropriate authorities such as Bank Negara Malaysia, Suruhanjaya Syarikat Malaysia and Suruhanjaya Sekuriti. Members of the public are also advised to use lawful remittance channels when making payment or sending money overseas. A list of legitimate remittance channels can be referred at the Bank Negara Malaysia's website ( www.bnm.gov.my ) for either licensed banks or licensed non-bank remittance operators.
For further enquiries, members of the public can contact Bank Negara Malaysia at the following contact points:
Laman Informasi Nasihat dan Khidmat (BNMLINK)
(Walk-in Customer Service Centre)
Ground Floor, Block D
Jalan Dato' Onn
50480 Kuala Lumpur
BNMTELELINK (Customer Service Call Centre)
1-300-88-5465 or
E-mail: bnmtelelink@bnm.gov.my
Bank Negara Malaysia
6 March 2009
Source: http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1779
Share and Enjoy!According to Walton website, Walton International Group is Canada’s worldwide leader in land asset management offering great real estate investment opportunities through Land Banking - an area traditionally reserved for the wealthy and large corporations – to virtually anyone.
Founded and headquartered in Calgary Canada, some 20 years ago, Walton has offices in Edmonton , Vancouver and Saskatoon. It also has an international presence in Hong Kong (12 years), Singapore (6 years),Japan (3 years) and recently in Malaysia enabling Walton to offer personal service to all our clients local and also overseas.
Walton International Property Group (M) Sdn Bhd Website - http://www.waltoninternational.com/
This is the original press statement from Bank Negara Malaysia:
Bank Negara Malaysia Raids Walton International Property Group (M) Sdn Bhd
On 5 March 2009, Bank Negara Malaysia raided Walton International Property Group (M) Sdn Bhd under the Exchange Control Act (ECA) 1953. The raids were simultaneously conducted at the premises of the company in Kuala Lumpur (W. Persekutuan), Kota Kinabalu (Sabah) and Kuching ( Sarawak ) following complaints received from members of the public. Relevant documents of the company were seized for purpose of the investigation.
Members of the public are advised to be cautious of this type of land banking schemes promoted by the company. Any elements of deposit-taking activities and public offerings such as ‘interest schemes' or investment in real estates schemes (better known as ‘real estate investment trusts' - REITs) should be referred to the appropriate authorities such as Bank Negara Malaysia, Suruhanjaya Syarikat Malaysia and Suruhanjaya Sekuriti. Members of the public are also advised to use lawful remittance channels when making payment or sending money overseas. A list of legitimate remittance channels can be referred at the Bank Negara Malaysia's website ( www.bnm.gov.my ) for either licensed banks or licensed non-bank remittance operators.
For further enquiries, members of the public can contact Bank Negara Malaysia at the following contact points:
Laman Informasi Nasihat dan Khidmat (BNMLINK)
(Walk-in Customer Service Centre)
Ground Floor, Block D
Jalan Dato' Onn
50480 Kuala Lumpur
BNMTELELINK (Customer Service Call Centre)
1-300-88-5465 or
E-mail: bnmtelelink@bnm.gov.my
Bank Negara Malaysia
6 March 2009
Source: http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1779
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13 comments
I have seen their ads in Sabah, huge billboards. If they have been around in HK for 12 years, there must be some legitimacy in their operations. I hope BNM comes out with a proper announcement on what they discovered as a result of their raids etc.
Regards
Walton had been operating for 30 years actually. So it is a legitimate company o.O Lets see what people are thinking now is true or not. Do not just believe in news and making assumptions first =)
Carol, Bank Negara Malaysia made the press announcement. Walton is raided for investigation because of possibly violating ECA 1953. This is not merely a new, in fact, it happened.
By the way, there were 3 companies being raided by SSM too, last year.
Companies Commission raids three companies over illegal land investments.
The raids were conducted simultaneously at the UK Land International (M) Sdn Bhd, Profitable Plots Sdn Bhd and Edgeworth Properties (Malaysia) Sdn Bhd.
http://www.malaysianbar.org.my/legal/general_news/companies_commission_raids_three_companies_over_illegal_land_investments.html
http://thestar.com.my/news/story.asp?file=/2008/10/25/nation/20081025132723&sec=nation
It is good to see Maalysia taking action on Land Banking companies. It would be good if other countries would follow the lead of Malaysia rather than ignoring what these companies are doing. The UK has been very slow on this.
Land Banking investment is risky & unlike financial services is not currently regulated by any one specific Government body.
Learn What "they" DO NOT WANNA TOLD YOU About Land Banking at http://www.alantanblog.com
but i tink the raid for those 3 companies and walton is different. The 3 companies were raided for being scam but Walton is linked to some foreign currencies act.
If you are interested in investing in raw land, i would suggest looking into other companies than Walton. I invested in land banking in Alberta, Canada through a company called La Terra Ventures Inc (http://ventascentral.com/laterra/laterra_info.php) I spent a lot of time researching companies doing land banking and feel very confident in my choice to invest with La Terra.
I recommend looking into this opportunity if you are interested in this type of investment (http://ventascentral.com/laterra/laterra_info.php)
If you want a real solid on land potential per annum or monthly solid and safety (ROI) go for the 1st Asian Land Banking In USA. Kingsbury International (M) Sdn Bhd that offer Freehold Land Title Come with Mineral Rights Freehold Title Too.
yup correct!! Kingsbury International is the best in malaysia nowadays...no harm guaranteed!!
I believe that you all should make proper research. I am an investor of Waltons and I find no problems. And the BNM news was in 2009. Common sense: if something is wrong with BNM, do u think Walton will still be be in operations? Call BNM and find out. I called BNM, they said all charges are cleared. The charges was on the remittance of the RM to USD, not the legitimacy of the company. BNM have complains fr the public that Walton is sending investors money overseas through money changer and not through the bank, that's all. No biggie for me. Walton land is even sold by RBC and HSBC in Canada, how can it go wrong? I suggest u all intested, then do proper research.
I shake my head. How people can make accusing remarks and not be charged with slander/defamation is beyond me. Do your research people. Walton investmetns have been great for me, research and make your own decisions. I will be reinvesting.
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