Dear Mr Tan
Business Times has an article about another gold company. Attached is the link
TKL Views
In my view, this is similar to taking a deposit with the promise to pay interest and pay back the principal. In this case, the deposit is the difference between the price of the gold and the amount invested. The Monetary Authority of Singapore is responsible to regulate companies that take interest paying deposit. It will be difficult for MAS to deny responsibility if the promoter is not able to meet its buy-back obligation. I hope that MAS will consult the Attorney General and take appropriate action for infringement of the regulation on deposit-taking.
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