Sebelas 11 Alasan: Mengapa Kita Harus/Wajib (atau tidak boleh) Berinvestasi di VGMC?

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January 9, 2012


11 reasons to avoid investing in VGMC

Abdullah Rajib
Read some reports in the newspaper about the investment in Virgin Gold Mining Corporation (VGMC).I want to display 11 reasons to avoid this company.First , the company has no clear status. It is not a company listed on the stock exchange because there are plans listed in the Exchange on Wall Street in the next few years.It is not a joint-partnership company owned by many shareholders. It is possible that this company is privately owned or sole proprietorship.Risks of investing in such companies is very high because the proprietor of this may disappear or using company funds to other interests and for himself. Owners can also make himself bankrupt.If this happens, I fear my investments be at risk.Details of the company owner has not been mentioned so I do not know with whom I must deal in the event something on my investment. Not stated who also monitor the inflow and outflow of money and use money invested in the company. So I do not know who is responsible for all affairs of the company.

Second , said the company registered in Panama, a country in Central America. The country has an area of 75.420 sq km with a population around 3.5 million people.

Revenue Gross Domestic Product (GDP) in their U.S. $ 30 billion ($ 38.4 billion) and per capita income is about U.S. $ 13,000. Compare this to our country and see the risk. For me, not logic raise capital in the country whose economy was not semantap country.

Third , there is no clear evidence of this company registered in Panama. If indeed it is registered, should not have the details of the owner, paid-up capital, identity registration, auditor, attorney and others.

I am concerned that if there is disagreement with the company, I have to fly to Panama to make a legal claim. Without knowing the legal and judicial system in Panama, I do not know how such a claim. What about the expenses of lawyers and airline tickets, hotel, meals, etc.?

I can imagine how difficult the investors get their money back if they disagree with the company.Fourth , the company did not disclose their activities. There is no evidence of gold mining companies even have a name associated with the mining company. There is no evidence the company has gold bullion (gold bars).

So, companies do not have any absolute (tangible) that can be diluted if there is anything on the company. As a Muslim, I must be sensitive to the activities of the company and know what and how companies conduct their business.

Fifth , I believe this company is involved in the derivatives business areas include hedge funds (hedge funds), futures (futures), options and also betting (betting). What they have is gold on paper ‘(paper gold) and they use this paper for trading.

Risk, when the “printer paper gold ‘scope or big loss when they can not fulfill their contracts because the gold price gap grows without control and the absence of gold they can buy in the market to fulfill their contract.If this happens, investors will only have pieces of paper gold, but not owned. I was worried about my bills have now become the worthless paper, although it was pegged to gold.

Sixth , since the operation began in January 2010, the company did not issue quarterly reports or statements of Supervision. In fact, after a year of operation, the company still does not produce the Annual Statement certified accredited auditors.

Without this statement, and no one knew how and how much money you have used the company to pay salaries and wages of directors and dividends paid to owners of the company. I do not understand why companies do not want or are afraid of sharing their financial information.

Seventh , without a valid Annual Statement, I do not know the company’s financial position and on what basis the company issuing special stock that can be changed (convertible preferred shares-CPS). If the company’s strong financial position and make large profits, I do not think the company should issue this CPS, and I feel awkward to ask if the company owner wanted to share the profits with me?

What heart so noble owner of the company as a prophet? I also do not know how this CPS fixed price and this price difference with the price of ordinary shares of the company.

Eighth , I do not know whether our society have sufficient knowledge of the CPS. Stock is a form of debt (debt instrument) issued the company to finance a project or business expansion.

There are several types of shares in the market. Often we see is of ordinary shares (ordinary share). Preference share or preference shares are also shareholders have priority over dividends but no voting rights.

Convertible or ‘be changed’ stands Preference Shares are convertible into ordinary shares have voting rights in the company.That defies me is that the company did not say when the CPS are convertible into common stock, the exchange policy and stock prices. So I do not know whether this change will happen or not.

Ninth , issued in shares of common or preference shares is one of the cheaper loans compared to loans made from the bank. We know from bank loans involving interest payments.

Payment for shares in the form of loans from the method of non-interest dividend. Dividends payable on company profits. Given the facts below, I think what this company is actually something that does not make sense:

  • Profits are generally assessed one or two times a year. This is because profits are not static – up and down every time. So it is not possible the company may issue a dividend every month without knowing the nature of profit coming months.
  • CPS are issued in U.S. dollars. Loan interest rates or the U.S. dollar is not so high, around 8 percent. So to what the company pays 120 percent dividend is it only pay 8 percent interest if they borrow from the bank?
  • No company in the world who are willing to pay more than what is necessary when borrowing money because this is affecting profitability.
  • Could not the company’s financial position enables them to borrow from the bank? If we do something that makes no sense means that we are not rational.

Tenth , is informed that the company issuing this CPS as a prelude or forerunner to the Initial Public Offering (IPO). Based on my experience, not a simple issue IPOs what if it is done on Wall Street.Clear to me, this company will not be given approval to be listed on any stock exchange on Wall Street let alone. These companies do not have and can not meet the requirements for listing on the stock exchange.


Eleventh , see the display given, I fear there is investment in this VGMC characteristics in the presence of illegal legislation. Engaging in derivatives business belongs to the Al-Maisir law or gambling. Betting and speculation is gambling.

All the companies were not clear or vague. It belongs to the Al-gharar laws or not transparent. It is possible that the company has involved the laptop if it must borrow to pay dividends monthly.

Many large companies listed on stock exchanges and the scope of losses involved in the derivatives business. Among Lehman Brothers and MF Global.

I like to advise our people to study and learn from what happened in the financial world.

If we do not know about the investment, refer to them truly wise.

I am also concerned, investing in such a scheme VGMC ‘Ponzi’, which aim to deceive investors. At the time this scheme destroyed and investors lose their money, I hope the authorities can take criminal action against those who encourage and promote this scheme because to me they received wages for abetting in the distribution scheme.

Note: The author of a fellow of the Chartered Insurance Institute, London and a board of registered companies.

Beri Tanggapan

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