Category Archive: Wine

Jul
18
2011

Premium Liquid Assets in HK Police Probe

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by Martin Lee

July 18, 2011

What’s the worst thing that can happen if you invested in wine and it didn’t do well?

I suppose you could drink it but that is probably not what investors of Premium Liquid Assets (PLA) had in mind when they invested with the company.

After the Hong Kong office of PLA was investigated by the Hong Kong police for an alleged investment scam, investors of the company in Singapore were left searching for answers.

As with the usual story of alternative investments in Singapore, CASE will not get involve as they do not oversea investment-related matters. Neither will MAS as they do not consider wine to be a regulated investment.

Wine Investors See Red (Today article on June 2011)

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Jul
01
2010

Assets Wine Management (AWM) Investors Stranded

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by Martin Lee

July 1, 2010

There was a news report yesterday on the closure of a wine investment company, Assets Wine Management (AWM).

asset-wine-management-awmApparently, the staff of Assets Wine Management (AWM) have been uncontactable since around 15th June 2010. AWM’s office at Duxton Road is also vacated.

Affected investors have gone on to file reports with the police and CASE.

So we have another case of wine investment gone sour. Last year, Universal Asset Group (UAG) also collapsed, leaving thousands of investors stranded.

Avoid unregulated investments that promise you returns that sound too good to be true.

Police reports filed against wine investment firm (Today Newspaper)

Wine Deal Gone Sour (The New Paper)

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Nov
04
2009

UAG Wine Claim – How to File

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by Martin Lee

November 4, 2009

Posting up this information for the investors of Universal Asset Group (UAG) wine.

Dear all,

wine-bottlePlease be informed that a receiver has been appointed to look into the affairs of UAG. You may wish to log on www.ipto.gov.sg to list yourself as one of the creditors against Universal Assets Group Pte Ltd. The winding up number is 123 of 2009.

Please assist to inform the rest if you are in a group. Thanks.

Regards,

ASP Ho

Maritime & Investment Fraud Branch
Commercial Affairs Department

And thanks to an investor who posted up the exact steps as below:

Login to www.iptoonline.gov.sg
Under Corporate Insolvency, select Proof of Debt for Company Liquidation
(Form 77)
Select Yes
Enter winding up no 123/2009

It asks for your details and $5 payment.

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Oct
14
2009

Wine for Asia 2009

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by Martin Lee

October 14, 2009

Wine for Asia (WFA) 2009 offers a one-stop opportunity to keep abreast of the latest opportunity to keep abreast of the latest wine offerings, complete with business, educational and networking opportunities.

Date: 22th to 24th October 2009
Venue: Suntec Singapore International Convention and Exhibition Centre

For more details, visit the Wine for Asia 2009 website.

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May
12
2009

UAG Wine Buyback Gone Sour

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by Martin Lee

May 12, 2009

Yesterday, the Straits Times reported that a group of Universal Asset Group (UAG) wine investors had lodged a police report for delayed payment of their investments.

These investors had participated in a one year “buy-back” scheme, where they purchased bottles of wine which was to be left with the company.

The company promised a buy-back of their wine after a year at a guaranteed return of between 10 to 12 percent.

Apparently, some of these investors who were supposed to get back their money in February or March this year have yet to do so. UAG has asked them to wait longer as they were having difficulties finding buyers for their wine due to the economic climate.

CASE recommends that investors to seek legal advice as investment products do not fall under the purview of the Small Claims Tribunal.

There are at least five companies which have set up shop here in the last five years, offering wine portfolios or opportunities to invest in wine.

Added: Please do not leave your email address on this board. You can visit this discussion group.

http://finance.groups.yahoo.com/group/sour_UAG_investment/

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