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Hi this is a response from Walton. I'm one of the investor too.
MEMO
To: All Walton Employees - Singapore,
From: Bill Doherty
Date: March 9, 2009
Re: Walton Malaysia – Bank Negara Investigation Response
Recently some Malaysian media have unfortunately carried reports regarding an
investigation which has involved our Company in Malaysia. I wish to respond to those
reports directly.
Always remember, Walton International is a successful international corporation, with 13
offices in seven countries around the world. We have been in business in North America for
30 years, and are proud to have been in Malaysia since 2002 as a respected member of
Malaysia's growing and important international business community.
Walton operates to the highest ethical and business standards in Malaysia and around the
world. We are committed to positive relationships with our clients and with the citizens and
governments of all countries in which we do business. We strive to comply with all
applicable laws in every country in which we operate. We have never consciously or
deliberately contravened any laws of the countries we operate in. We have full confidence in
the soundness, professionalism and integrity of our business operations.
We have and will continue to fully assist the government in its desire to ensure all business
is conducted in Malaysia to the highest standard. We are fully open and transparent in our
professional relationships with regulatory authorities, and responsive to requests for
information and cooperation.
Contrary to references in some media reports, we do not offer “deposit-taking schemes” nor
“Real Estate Investment Trusts.” The reason for our continued success is that we offer real
ownership of land in highly researched target areas within Canada and the United States.
Almost 50,000 Walton clients worldwide have purchased over 49,000 acres of land, a total
of nearly $2 billion worth of land.
(land), with properly held title and ownership.
Our clients' holdings are safe and secure in real estateThe interests of our clients are always foremost in our minds. Our track record speaks for
itself. We are careful in the land we select and offer to clients, and have delivered consistent
returns to our clients in Malaysia and around the globe. In the last 3 years we have returned
over $500 million to Walton clients globally including Malaysian clients.
audited by independent, third-party accounting firms. To date, we are proud to say we
have delivered our clients a 15.88% median compound annual rate of return. This
success cannot be argued.
Our returns areOur business in Malaysia is very important to us, and our long-term commitment to our
Malaysian clients and clients around the world remains firm.
We can be proud of the lands that we offer, the world class service we provide as well as
the returns we have and will continue to generate for our clients. We all need to be active in
communicating this message with our clients and with each other.
Sincerely,
Bill Doherty
President and Chief Executive Officer
Returns are not high. Returns are normal if you compare them to real estate investments, ie buying property etc, instead of comparing to fixed or structured deposits. The risks and concepts involved are similar to buying a property like a house or apartment etc.
Where exactly are the lands? They are located in the States and Canada. You can fly over to verify them. Home prices are dropping nationwide. But the drop varies from state to state, town to town, city to city. Am sure the drop is different comparing between California and Miami etc. And the focus is about future increase in land price. Not immediate. Not 1 - 2 years. Land bank has been around for ages. Long before we started drinking milk. Just ask and big developer and you will know all of them land bank.
Property is all about a cycle. So is the stock market. But property cycle and stock market cycle is 2 different cycles. Might be related. But not the same. So if we want to compre, should compare apple to apple. Not apple to durians etc.
But it is interesting for our neighbours to raid the company. Would like to see how this all turns out. If it is indeed ponzi, then it would be just another one in the many we have around the world these days. However, if it is not, sure hope for clarification fom our neighbours.
2 cents worth.
how do u know this is not a ponzi scheme like madoff?
pay those who got in early with the investments from newcomers..
Yikes. Malayisa office kanna raided ...
http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1779
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.
Hey, I heard their presentation a few times, and are still not very convinced about the investment. I spoke to a friend in Edmonton, and she said, if you are really into land investment, and believe in the investment value in Edmonton, you are better of buying a property there.
As for the 10% returns, I think it is based on the amount of absolute money outlay to the investment. They will offer you some bank financing package, to convince you that the returns are better if you were to take up the bank loan vs if you were to put in C$55k.So just be careful.
On the other hand, I have friends who invested and make money. Just my personal opinion.
they claim to be able to give at least 10% returns on average every year! which is very good. But you need to park your money with them for a few years.
Someone from Walton approach me and did a presentation. Anyone got info about these people?