By Nikki De Guzman:
The Monetary Authority of Singapore (MAS) has placed two overseas property companies – Dolphin Capital Asia and Shenton Wealth Holdings – under its Investor Alert List, according to local media reports. The list serves as a reminder to investors that those companies are not regulated by MAS to avoid any misrepresentation.
Dolphin Capital Asia functions as an operations office for its German counterparts, Dolphin Capital GmbH while
Shenton Wealth Holdings is one of its marketing partners.
Vicknesh R Pillay, Managing Director at Dolphin Capital Asia, said: “Through our findings, we believe that one of the agencies marketing the investment opportunity had misrepresented the company, by claiming that we are a regulated entity.”
“We have now inserted a disclaimer into our webpage and information leaflets to state that we are not regulated by the MAS.”
“Though we were surprised to be on the list, this does not mean that the investment is any more or less safe or that we have contravened any law; this just indicates that the investment is not regulated by MAS.”
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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