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A reader, Gary, asked me for my opinion about something he saw in Bukit Merah Central.

“… Saw a roadshow in Bukit Merah Central which displayed “24% per annum”! Company is Islandia and I’m not so sure if really can get 24% per annum! Sounds like scam but the strange thing is that there are people manning the booths!”

So, with some help from my friends, Victor Chng and Matthew Seah, I discovered that Islandia is actually a proposed integrated resort to be developed on an Indonesian island called Pulau Abang Besar. Apparently, construction work started in the middle of last year.

See PDF file:
http://www.cuffzholdings.com/News/The%20Islandia%20AsiaOne%20Feature.pdf

This project is a joint venture by Cuffz Holdings and Huafa Assets.

Digging around a bit more, we found that Cuffz Holdings is actually partnered with IOC Group Limited…

Read the full article →

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