Malaysian Gold Plans Flourish in Hunt for Yield: Southeast Asia
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Dadhyanna Tan Mian Lee ditched a 10-year career in telecommunications in 2009 to become a consultant with Genneva Malaysia Sdn., selling gold to customers with a plan that she says yielded as much as 24 percent a year.
“My mom would say, she got 3 percent per annum placing her money into a fixed-deposit facility with a bank,” said Tan, 38. Genneva also won her father as a customer with its offering of discretionary monthly “gifts” to purchasers of its product. That income source is at risk after Malaysian authorities raided Genneva and three other companies this month for suspected offences such as illegal deposit taking.