There's been some hype about Genneva Syariah Malaysia gold investment which bring me around 2% to 3% per month hibah return based on syariah principal. This may be too good to be true as minimum annual return will be around 24%. Which other investment which will bring you such return. The HQ of the company located at Jalan Kuchai Lama and have many branch overseas like Singapore, Hong Kong, Philipines and the latest in China. Update your view on this.
11-1, Jalan 3/116D,
Kuchai Entrepreneurs Park,
Jalan Kuchai Lama,
58200 Kuala Lumpur.
Tel: 03-79881019
Fax: 03-79881331
Email: marketing@genneva-world.com
www.genneva-world.com
The HQ of Genneva situated at Jalan Kuchai Lama.
The front view of the office. The Gold BEAM ( Bullion Entreprenuers Association Of Malaysia ) situated just opposite of Genneva. www.goldbeam.org.my
What a beautiful Ducati Multistrada parking outside of Genneva office.
The place crowded with people waiting for their queue to transact their gold.
You have to wait 4 to 5 hours during special promotion period.
The musical chair waiting to get the S&P.
Classic Triumph bike parking outside the marketing office. Look macho.
where can possible....something is wrong. If like this the bank can close down business.
ReplyDeleteI am interested to know whether the physical Genneva gold is a REAL GOLD?? Would goldsmith shop accept
DeleteGenneva gold? If no, then it is not a real gold.
The company investigated by bank negara under the AMLA or BAFIA act. Be careful.
ReplyDeleteDavid. Please get your facts right. Genneva Sdn Bhd and Genneva Malaysia are 2 different companies
DeleteGenneva already operating for more than 7 years. If got problem already close down by bank negara. The Genneva Syariah also officiate by our former prime minister Tun Mahathir.
ReplyDeleteGet your facts straight. Genneva Sdn Bhd was investigated in July 2009 and 4 directors were charged in court for money laundering and illegal deposit taking activities. The current Genneva Malaysia Sdn Bhd started in September 2009 taking over from the old Genneva. Tun Mahathir is hardly the poster boy for good investments seeing how he squandered tax payers money during his 22 years in office.
DeleteGenneva is a gold trading company and not a gold investment company. They expand quickly to the region and recently open up at Beijing China.
ReplyDeleteOPP !!!! company expand quickly and open up office in Beijing China SHOULD NOT BE A SCAM COMPANY ????????
DeleteIn future if I want to operate a scam company I better expand quickly all over the world especially BEIJING China !!!! Ha ! Ha, I am SMART !!!!
Ty genneva. My life is happier nw.
ReplyDeleteMake sure you tell me if you are still happier if Genneva is convicted in court. :D
Deletenothing is impossible....some say if something too good to be true, it maybe a scam. I think time will tell...
ReplyDeleteWhether SCAM or not can only be distinguish by a wise person who had read, listen, research a lot. With that wisdom they can only tell what opportunity is all about. It always
ReplyDeleteDisguise with difficulties n impossibly, are u wise enough to grab any opportunity in life by your own n don't listen to any one, make a decision by yourself for once in your life time. Whatever decision u have made is always RIGHT...! Since you had do your best...!
Stop your crooked rethoric lah...To establish whether it is a scam and to establish whether it is an opportunity is TWO different things! So are you talking about gaining knowledge by reading, listening and researching to proof that it's a scam or opportunity? There is no such think as being wise to grab an opportunity in the investment world. Opportunity in the investment world is always related to big risk appetite with a tinge of greediness or possibly stupidity. :D
DeleteAfree
DeleteClick on the link below which proves not only is Genneva under continued investigation by both Bank Negara and local governments but also a newspaper clipping where Genneva Gold Sdn Bhd had to comply with disclosure acts stating they DO NOT GUARANTEE TO REPURCHASE OR RETURN ANY PROFITS.....
ReplyDeleteLINK:
http://silvermalaysia.blogspot.com/2012/02/genneva-gold-sdn-bhd-newspaper.html
I just get alerted by someone that there is an announcement by Genneva Gold Sdn Bhd in the local newspaper few days back.
ReplyDeleteIt’s stated that:
Genneva Malaysia Sdn Bhd does not in any manner, directly or indirectly, at present or in future gives an undertaking or guarantee the re-purchase of gold products sold to its purchasers (no buy back guarantee)
I would like to keep this short and nice:
I never invested in Genneva Gold Sdn Bhd, because I never believed in such a BS scheme. However for those who already invested please do take note as I think you should know the truth.
For those who are interested to know more there is a session court hearing at KL Session Court on 1st and 2nd March 2012.
Copy + Paste this Link below:
http://www.bnm.gov.my/microsites/fraudalert/0301_status.htm#genneva
Brother, I know the boss of this company. Unfortunately, you are right, I can't tell much.
DeleteNo free lunch in this world, and of course, how much Bank Negara is asking to unfreeze their previous account.
ho ho ho....
I invested for almos 2 yrs already n m very happy wit it. I got to know all the tops of Genneva n guess I know wat m doing. Every investment hv risk n shd we know our limit
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DeleteThose who entered and exited early will get the benefit.
DeleteHowever, as time goes by, when new sales volume cannot sustain to pay back old investors, or gold price remain stagnant or dip, then the truth will emerge.
so any1 bought any gold from genneva? any unhappy experience?
ReplyDeleteI must agree... if anyone bought gold from GENNEVA MALAYSIA SDN BHD and had an unhappy experience please write it down here. Please note GENNEVA MALAYSIA SDN BHD and GENNEVA SDN BHD (Currently an ongoing court case) is TWO DIFFERENT COMPANIES. https://www.ssm-einfo.my/member/index.php?id=uni
ReplyDeleteMessage for Silver Malaysia.. if you have not come in to buy gold from Genneva Malaysia and experience getting the benefits from it, I think you dont have the right to say anything about it.
Of course Silver Malaysia has a right to his opinion and to air it. So do you. Why do you fear other people voicing their views? You fear Genneva will be exposed as a scam? It is. So put all your money into their gold savings scheme and end up getting scammed good and proper.
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DeleteI have invested in Genneva Sdn Bhd before and still got stuck pending their court case, and have not got back my investment yet. so those out there, better be careful
ReplyDeleteSo after so many years did Genneva pay you any compensation? Any idea when the case gonna settle?
Deletewhy dont you claim? People buying gold from Genneva Sdn Bhd while pending to do business by Bank Negara. They kept the gold, latter sold those gold at very high price. Now they continue buying......
DeleteWhere to you all keep the gold? Banks? I heard 1 company at Summit USJ provide safety deposit box service. Anyone got any comment on their service? Thanks.
ReplyDeleteBefore that, find out the cost to verify if that is pure gold. And because the process is not cheap, not much people do that.
DeleteGold, Gold, and now euro is hot of Goal, Goal, but buy Gold better watch out, else Gold become GO GO
ReplyDeletehi, i just have been introduce about this gold, what we call it as hibah.. just looking for information about this. Genneva Malaysia sdn bhd. yup as i know that usually the gov will suspended any company running scam.. but deep in my heart, sometimes i think, how can the company can give such a big profit about that. Meantime a lot of people buying gold and keep it at ar rahnu to increase their asset..but with like loan.. what would u say about it. thks..
ReplyDeletehi, i just have been introduce about this gold, what we call it as hibah.. just looking for information about this. Genneva Malaysia sdn bhd. yup as i know that usually the gov will suspended any company running scam.. but deep in my heart, sometimes i think, how can the company can give such a big profit about that. Meantime a lot of people buying gold and keep it at ar rahnu to increase their asset..but with like loan.. what would u say about it. thks..
ReplyDeletei just joined this saving plan. and it is ok so far. they paid me hibah in time and i also got the gold in hand. if the company close down, i still have the gold with me. my leader just closed 1 client from one yayasan, they bought 3mil worth of gold from genneva. if it's scam, why the hell such high profile client joined this plan?
ReplyDeleteYou are right, NOT ALL HIGH PROFILE CLIENT are SMART !!!!!!
DeleteThat why so many YAYASAN is in RED !!!!
HI all. This is just a misunderstanding. Saya dah lama trade gold dan terbukti ia bukan scam. boleh layari web ni kalo xcaya: http://www.lombongvgmc.com sume bukti ada dinyatakan di situ.
ReplyDeleteSorry, I don't take proofs from blogsites....I have a bank negara website that proves that this company is charged in court under BAFIA and AMLATFA.
Delete2 me as long as we make profit out of it , what we care ! It look like u re a broken heart man , teasing the girl yu in love before ! She remarried is a good news further we must bless her ! Thing can be change . The directors must have a good conduct .Don't corner a person , give them a chance . One more night ... one more try ... Just be careful , diversify one investments . Do't put all the eggs in one basket. God bless we all ( include yu and me , everyone here , let's pray and do remind each other . ) ---- look b4 yu leap.
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DeleteMy mother in law wanna withdrawl all the money and close account but they said they lost the paper and cannot take money. They force her to renew and wait for another 3 months. Don't you think it's rediculas?
ReplyDeleteYou talk rubbish where on earth got such thing. This is the first time I have heard of that. People got no money jealous when they see other people making money. Can you pls shut your big mouth. Jealousy!!!! Haahaaa.....
Deletereally ? Better b sincere otherwise this might misleading ! Pls double check and announce the truth .
Deleteyes...I agree.Pls stop talking nonsene and double check. Do u know the contents of Bafia law????u knw nothing!!!!Come on pls double check d history of Genneva and see how dis company handle d case in proper manner. Dun simply talk like in mamak stall. jUST KNW A BIT BUT LIKE TAI CHEK KONG.... hahaha...Nonsene...
DeleteIt will follow Red Island cafe step. Gold price is dropping and how would you expect they will buy back from you. 3 Months is enough for them to sell high to you and buy back from low market,not from you.
ReplyDeleteThe scheme will continue to work if gold price keep rising and more people rush in to buy. It will collapse when the gold price keep dropping because this is the time no one will rush in to buy and the exiting gold holder will crazy sell all their gold in hand. Unless the gold price rebound.
Understanding the price we're buying from Genneva is higher than market price. What is the current buying price from Genneva ?
ReplyDeleteUnderstanding the Genneva gold price today 6.7.2012 RM205/gram. Market price RM195/gram.
Deletei was invester for GENNEVA MALAYSIA SINCE 2011 until now, before i jump in to this Scam Comp. i go to listen gold talk for three times and my good frien say {Bro, don't jump to Genneva Malaysia, SCAM SCAM becareful ,thanks to my friend remind me more than 10 times , at last i jump into this scam company Genneva Malaysia until now, beginning this year Feb 2012 my good friend also jump in to Scam Genneva Malaysia ,he also happy what Genneva Malasia gift to us(HIBAH) he buy more than me , he said (He only think about SCAM Not Think about Investment) than i ask him, this is Scam company, he said I STAY BESIDE HOSPITAL ALSO RISK, BUT MUST UNDERSTAND WHAT RISK. compair fd and gold he said fd only paper but gold is for future .
ReplyDeletebut not try to understand company,i say EVERY WERE IS RISK,AT HOME ALSO RISK PEROMPAK TARGET YR HOUSE WE DON'T KNOW .
THINK & DO
PEOPLE SAID GOOD I MUST SEE
PEOPLE SAID SCAM I MUST KNOWN
PEOPLE BUYING U STILL SAME
PEOPLE GATE RICH U SAY SCAM
IN THIS WORLD EVERY WERE IN THE RISK,
MY SUSGETION
5% unexpeted risk, 10% high risk, 30% medium Risk & 55 normal risk.
Haha, risk risk risk. I wonder after so many years, there are so many internet forum discussed about GENNEVA SCAM, why the authorities, SC, being BNM or police or etc not ban GENNEVA to operate......
DeleteThose complain on hide in internet. Go and make official report. If its REAL SCAM, the authorities should SHUT them DOWN. rather than I seeing individual from PG aggressively writing here and there
Dear Anonymous, I have not seen people doing risk profiling like this,....where did you learn your risk management skills ar? Do you know anything about risk mitigation? Very simple, we already have so much risk in lives, why take up more risks by choosing to ignore its risk indicators? Please stop all those sales tricks, I'm sick of it....
Deletei enjoying to what you'd wrote ! I too jump in after 5 years seeing people making money !!!!!
DeleteWell no harm playing short term.. I made pretty gud sum.. Thinking tat if I dun move forward I will owys b the same.. I wan Hermes .. Pradas n nice cars too .. No risk no life
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DeleteOPP, Sorry ! Geneva Malaysia was in the list of 77 !!!!!!
DeleteI tell you where the real risk with Genneva lies, when you return your gold to claim the hibah and it so happen some authority(s) does a raid and freeze their operations, your gold is as good as gone. Look at 1st Genneva co. till now still court hearing, since 2009. 300+million stuck, when court finish hearing, you think your investment still around. I can talk bcos my money is stuck, or say gone with the wind!
ReplyDeleteFor those of you who are promoting Genneva here, please read this through an do not be blinded about the risk involved because of your stupid greed. http://www.bnm.gov.my/microsites/fraudalert/0301_status.htm#genneva. Apparently, the last hearing on AML charges against Genneva was on 29 - 31 May 2012. Next hearing date would be: 13 - 17 Aug 2012. Most of Genneva's directors (Ng Poh Weng, Marcus Yee Yuen Seng, Liew Chee Wah and Chin Wai Leong) are already implicated in this case and do you know what will happen to companies and persons who were charged in court? All banks and financial institution has a list of this persons/organizations being charged and a full red alert will be placed on them. In other words, there might be difficulty for them to enter a new business relationships with any financial institutions. On the reason why authority has not force close this business is that there are no conviction in the court yet. They are only allowed to continue to operate because the have complied to the disclosure notice to warn customer about the risks they are about to take. Go ask your lawyers about these and see what I said is correct.
ReplyDeleteDear Caleb,
DeleteAs i know some of the new Genneva Malaysia Sdn Bhd directors are the same persons. How is that they are allowed to operate a similar bussiness when they have been charged in court. Not only that, they also been conferred datukship during this perioud. It is very funny how the government acts on these people, on one hand they are ciminals and on the other hand they are Datuks.
Many people talk about Genneva Scam. We need to understand the risk. It is quite small as we are holding to the physical gold unlike those who are holding to paper. Those customers who have stay with the company should know.
ReplyDeletehttp://bit.ly/QZj9iE
You are underwater the moment you buy you gold at 20% premium..
DeleteThat's market risk..
The buyback option offered gives you false sense of security..
coz' you will need the company to stay solvent to honor the buyback.. From risk perspective, unless we are 100% sure that counter party risk is 0%.. buying at high premium requires one to be having extremely bullish view on the gold price..
http://www.utusan.com.my/utusan/Ekonomi/20120801/ek_02/77-syarikat-pelaburan-tidak-sah
ReplyDeleteGM is a gold trading company, not an investment company, like when you buy gold from the goldsmith for your own investment. You may pay slightly higher price for the gold but you are given monthly rewards, unlike goldsmith. You also get to keep the physical gold. You can always get the gold verified by any goldsmith.
ReplyDeletemany people feel safe because they are holding a physical gold... BUT, have you ever thought.... what if the gold is not pure gold???
DeleteRecently, many pawnshops in northern region (published in newspaper) have been cheated ...because the gold which they received as pawn only 20% gold!
Just imagine, they have involved in this kinda industry for sooo many years ... still can be cheated.... what about the ordinary people? FYI, pawnshops will test the gold before accepting. How can u be assured that the GOLD U ARE HOLDING NOW is 100% genuine? Think twice..
you are real smart & wise. but still have many FOOL out there.
Deletewhy Genneva Malaysia will be listed in bank negara malaysia as alert company?thanks
ReplyDeletePreviously the Walton International property also under bank negara alert list and charged by BNM. However, they paid the fine and still operating.
ReplyDeleteI don know what the HELL for those ppl talking abt Scam. Life is simple: High Risk High Return; Low Risk Low Return; No Risk No Return. If u can't take the risk, just shut your mouth, wait & see. Let the risk taker earn the money. Well!
ReplyDeleteDear REAL SMART net infor, The info above is from Bank Negara Malaysia wedsite. I think if you are not an investor than your must be the staff. Ha !
DeleteDear net infor, I call BNM, confirmed Genneva Malaysia is in the list of 77 company listed by them.
DeleteDear investors / future investors. Please stay away from investing in gmsb. The fatwa has been announced that it is not syariah compliant. It has appeared in BNM consumer alert list. It has been published in utusan malaysia and at the same day, PPIM has also lodged a police report on this comp. it won't be long till the enforcement raid this comp. don't blame them if u don't get hibah anymore. Btw, hibah is also a discretion and should not be fixed. If u have invested, please make sure u have the physical gold with u and be prepared to loose abt 40% of yur capital. Their gold are expensive, when u sell them outside, it's going to get worst. The way it is done, your hibah is being payed to you using your own money. Remember, you have been warned. This is no joke. Plus more, it is in the holy month of ramadhan....
ReplyDeleteHow come the fatwa announced genneva not syariah compliance rather than bank negara? bank negara should be the expert on financial syariah compliance..
ReplyDeleteHmm I got a friend who got 'inside info' said that Bank Negara and the Fatwa council got conflicting view of whether syariah compliant or not...
ReplyDeleteI guess it's a matter of interpretation..anyway I still bought the gold and I have it in my safe, nothing like having the actual metal =)
Have to agree with the previous commenter about "having the actual metal". i think it's good to have some in physical for long term and some paper gold for quick trading/ short term.
ReplyDeletemy friend created a website recently to explain, i bought my gold from him last time...can check it out at www.BuyGoldInMalaysia.com
Most importantly must check whether the gold you're holding is real (find out who's the refiner, try and arrange for a density test/ assaying if possible).
Would highly recommend my friend since he helped me with all this, http://www.BuyGoldInMalaysia.com
I like to say that I work in front of Geneva and it seems to be pretty busy. Anyway I purchase some gold but it had time during the transaction where you pay and not get the gold.. A period of 3-5 days depending on how busy they are. time to get your cash back when you return your gold. Depending on how busy they are it could take 3-10days.. So during this period you may be Shit out of luck if something went wrong ... So this is the most nerve racking days ... So roll the dice and hope for the best... I got in and got out... all good for a few more months till the ponzi blows up
ReplyDeleteBank negara does not issue Fatwa laa...
ReplyDeleteAnyway, interesting article to read.
http://seekingalpha.com/article/779521-end-of-an-era-for-gold-investors
Gold is at it's peak and will soon go down... I know something that you don't. Save yourselves..
Btw, Public Service Announcment on Radio's have been issued by Bank Negara. Next step is to create awareness and then....BOOOMM...
Interesting thing to note. Gold has been at its peak for the last decade, at $800, $1000, $1200, $1500 it was always an all-time high.
ReplyDeleteOf course in the interest of diversification, we should never go 100% into gold. my ideal is 10-20% gold, the rest split between properties, unit trust and bonds.
About gold going down..I'm more afraid Currencies go down actually haha
No risk no life ... M happy wit $$ I made from GM... I wan extras to shop shop shop in Paris!!
ReplyDeleteJust for info. If u buy a sofa, u get sofa and the shop give u sumthing as a free gift (thats what we call HIBAH) do u not take it? Of coz u wil take it rite. So.. Its same like gm, u buy gold and u get the gold... And gm give u money back every month as a gift. (HIBAH) do u not take it? Of coz u wil take it rite... U buy a sofa u get sofa... So.. What make u claim that is investment? + the shop give u a gift.. Is that wrong? Same like gm, u buy gold u get the gold. So.. What make u claim that is investment? + gm give u a gift ( HIBAH) is that wrong ? Gm is not investment shop or investment company... But they are goldsmith.
ReplyDeleteAnd u go to bank, make a loan, u get the loan and the bank ask u to pay back + interest. Dont u know the loan actually is your money.. what wil happen to the bank if all people withdraw they money? U know what? The bank wil close. The bank use your money to rolling and make profit and give u just 1% of your current amount. Conclusion: the bank use people money to give u loan. And ask u to pay back + interest. So.. What u say?
WISE MEN .
DeleteWe do not question the legality of its modus operandi... what they are doing is perfectly legal.. including the fact that they sell you gold at almost 20+% premium and guarantee to buyback at that price.
DeleteSustainability of this model is questionable. You subject yourself to market risk and counterparty risk. Should gold price correct sharply, it will be interesting to see if the company can honor all the buyback requests..
i am wondering how old are you, u think and talk like such as so childish way... people telling the truth and ask u to present being scam or loose ur money incase anything happen . u still want to fight back... ai.... God Blessing You !!! Good Bye
ReplyDeleteWhat make u believe gm is scam? And is not about childish but is about the way u understand. How come u loose ur money if the gold is in ur hand? The true is u not believe in ur self but u believe what people said without see the truth.
ReplyDeleteCONCLUSION: u have to ask people that join gm as gm clients and not to just believe what people said wether its true or not.
If the answer is still not strong for u.. Go to bnm and find the answer there's.
If the answer is still not enough please go to PERSATUAN JONGKONG EMAS MALAYSIA and ask them about gm.
That is the rite things u should do. And please don't just said is true or not, its scam or not but please GO AND FIND THE ANSWER and use the right channels.
That all from me ur childish
Anyone notice the Genneva Singapore now unable to pay the discount?
ReplyDeleteTICIPANTS of Penang Starwalk 2012 stand to walk away with 11 gold wafers worth RM30,000 sponsored by Genneva Malaysia Sdn Bhd.
ReplyDeleteIts regional director Datuk Joseph Kow said one lucky participant would get to take home the top prize which is a 50gm gold wafer worth about RM10,000 (pic).
“There will also another 10 wafers comprising two 20gm units (about RM4,000 each), four 10gm (RM2,000 each) and four 5gm (RM1,000 each).
“The gold wafers are part of the company’s RM100,000 sponsorship for Penang Starwalk 2012,” he said.
Kow, who is also the Gold Bullion Entrepreneurs Association of Malaysia secretary-general, said a booth would be set up on that day.
“I would like to invite all participants to come to our booth to play some games offering attractive prizes to livened up the event.
“More than 100 Genneva staff are also taking part to show our support for the event,” he said after handing over a RM100,000 mock cheque to Star Publications (M) Bhd executive director Tan Sri Kamal Hashim yesterday.
Kamal, who expressed his gratitude for the generous contribution, said the company has been supportive of the event.
公司已经被控上法庭了吗？
ReplyDeletehi, i am a college student.
ReplyDeletecan i get the oganization chart from you??
because i have a project and presentation about genneva company.
i want more detail and prepare.
you can send for me from this msn : angelababy248@gmail.com
thank you very much!
Hi, want to ask some information from you guys that had bought the gold, After you purchased, for those who went to gold shop asking for genuine or not, do you ask for how much if you want to sell to them? How much will you lose out if you buy from Geneva and sell out on the same day, same gold market value. Thanks for any information.
ReplyDeleteHey bro....have u tried to buy gold from ordinary shop n before u drive home...suddently u changed your mind n would like to sell back to the same shop.....the sell back price would be at least 20% below yr purchase price. Dont keep on attacking genneva!!!
ReplyDeleteKk branch stuff infront of the counter is really no manus. And also have a bad attitude to serve customers . Three of the girls at counter serve customers like a shit.
ReplyDeleteAnybody knows what is happening to Singapore? Are Malaysian investors concern because it might happen to Malaysia too?
ReplyDeleteI just bought recently, got convinced after hearing it is hibah compliance. gosh, i am regrettting. can we withdraw now? my was a 2 months contract.
ReplyDeletePETALING JAYA: The police, Bank Negara, the Companies Commission of Malaysia and the Ministry of Domestic Trade, Cooperatives and Consumerism jointly raided gold trading firm Genneva Malaysia Sdn Bhd and its affiliates in the country for various suspected offences.
ReplyDeleteSingapore's Commercial Affairs Department also conducted a similar operation against Genneva Pte Ltd in the republic.
In a statement released yesterday, Bank Negara said the raid was to probe suspected offences under the laws administered by the agencies.
“The public is advised to be cautious in investing money to avoid becoming victims of activities that are illegal and in breach of the law,” the statement read.
Hopefully everything was ok for gm. Pray hard ...:) even I'm just a small investor
ReplyDeletei was tempted to join becos i was told :1. firstly it is approved by BMN and has high profile personalities 2. there is a guarantee buy back and of course the high returns promised.
ReplyDeleteAs for the ist case , well it is not endorsed by BNM ,so its a big mis-representation. 2. Gurantee buy back ...but later The coy published in the STAR papers that they do not take an undertaking to buy back , then i am not protected .. 3 Big returns .( they must be better than Warren Buffet whiz kids )...well until you get back all your money and all the fat returns but later i was told to pay first upfront 20 % higher than the market price for the gold. !!!so until you have collected 20 % premium before you have break even .so if you have collected 20 % interest from company , then only you have break even . so question is very simple until you have collected all the fat interest and they willing to buy back at the price you paid which they say they will not as published in the papers...then you are still in the woods of promises and the physical gold i saw which is a chunk of huge nugget is not minted by swiss bank ok. Since coy is not buying back , then you must know how much the goldsmith shop willing to pay by the gold nuggets in your pocket minted by the company. please do not say paper gold is less safe. if you buy paper gold issued by SINGAPORE bank uob or Public bank , it means that it is backed by physical gold and you can trust the paper issuer authorised by BNM OR Singapore MAS . THE COY IS NOT A BANK .anyway wish you luck becos when singapore authorities are involved , they know wat they are doing .so pray hard and do not be blinded becos you have put in money otherwise why there are court cases and raids. so pray hard that you get all interest and the actual price you paid for all your gold..