This news will cause some anxiety: MBI International Sdn Bhd and Mface International Sdn Bhd, large entities heavily involved in Penang and elsewhere, have been finally included in Bank Negara’s latest list of 302 “known companies and websites which are not authorised nor approved under the relevant laws and regulations administered by BNM”.
They operate from this website http://www.mbiv2u.com/
MBI International Group and its subsidiary business network has spread across Asia, including China, Hong Kong, Taiwan and Thailand, according to its website.
Check out Bank Negara’s latest list of unauthorised firms.
What does “not authorised nor approved” mean?
Over the last few weeks, I have been trying to understand the pyschology of those who invest in these firms. Could you help me understand why many ordinary people seem attracted to the possibility of making higher returns without really being sure about the background of these firms?
Is it because people feel fearful or insecure about the future that they feel they need to secure quick returns using the fastest possible route?
Are they worried by the political and economic outlook – that they might not be able to cope with the higher cost of living especially housing, education and healthcare in the future?
Do they feel they are losing out to inflation from low interest rates offered by the banks?
Is the culture of corruption and cronyism encouraging ordinary folk to think of quick returns with minimum or no effort?
Or is it just plain greed, as we have been told (which in a way, stops us from thinking of other possible factors)?