Results 1 to 8 of 8

Thread: Investment: Keymax Investments

  1. #1
    Gold Member Martinco's Avatar
    Join Date
    Oct 2008
    Location
    Rustenburg
    Posts
    927
    Thanks
    175
    Thanked 136 Times in 108 Posts

    Investment: Keymax Investments

    Anybody that has had/have any dealings with this company ?

    I have a friend that invested a substantial amount of money with them on the promise of a better than average return.

    So far it seems difficult for them to live up to this promise...........

    Owes him about 200K at this stage!
    Martin Coetzee
    Supplier of Stainless Steel Band and Buckle and various fastening systems. Steel, Plastic, Galvanized, PET and Poly woven.
    We solve your fastening problems.
    www.straptite.com

    You may never know what results will come from your actions, but if you do nothing, there will be no results... Rudy Malan 05/03/2011

  2. #2
    Silver Member
    Join Date
    Jun 2008
    Location
    JHB
    Posts
    271
    Thanks
    73
    Thanked 76 Times in 56 Posts
    I googled the company - defunct website, no directors list, very very vague info??? Is that the complete name though? "Keymax" was an array of shelf companies, so the name could have changed?

    Ponzi, Madoff, Tannenbaum.........or am I just neurotic?

  3. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,980
    Thanks
    3,055
    Thanked 2,463 Times in 2,068 Posts
    Blog Entries
    12
    Quote Originally Posted by Morticia View Post
    or am I just neurotic?
    Probably not. And to add to the list of possibles...

    Apparently there are a pile of such investment companies and products that are coming unravelled. The money was going into property holding companies to be used for deposits with the rest bond financed. These were very heavily geared transactions desperately reliant on property price growth to work. The rise in interest rates and drop in property prices has pulled the rug and there is no way in hell they're going to be able to pay the interest due. They're so far behind the mark, even the recent drops in interest rates isn't going to save them.

    And given that the investment companies are seperated from the property equity, not only are the investors not going to get their interest, they've probably lost every cent of their investment.

    There was an article about it last week - Business Report I think. Thought I'd posted something about it, but obviously I got distracted

    The value and number of investors likely to be affected is expected to be huge.
    The trouble with opportunity is it normally comes dressed up as work.

  4. #4
    Gold Member Martinco's Avatar
    Join Date
    Oct 2008
    Location
    Rustenburg
    Posts
    927
    Thanks
    175
    Thanked 136 Times in 108 Posts
    Hi Dave, Morticia,

    I also googled the possibilities and it seems somehow all the sites are "related" and looking at the property one, seems to be "going strong".
    I listened to a radio program on the subject of all the "schemes" the other day and it seems there is virtually nothing an investor/fool can do to recoup his interest never mind the capital sum.

    The funny thing is that I also looked on Hellopeter but could find no entry on these guys. Surely if many people have this problem it would be listed there

    According to this friend of mine ( genuine........not me ! ) they blame the situation on the present economy although, and I speak under correction, he has not received any payment for the last +- 12 months. ( Many promises though ! )
    Maybe the answer is to get a couple of guys from the south of JHB, pay them 10,000 to break both knees
    Martin Coetzee
    Supplier of Stainless Steel Band and Buckle and various fastening systems. Steel, Plastic, Galvanized, PET and Poly woven.
    We solve your fastening problems.
    www.straptite.com

    You may never know what results will come from your actions, but if you do nothing, there will be no results... Rudy Malan 05/03/2011

  5. #5
    Platinum Member Marq's Avatar
    Join Date
    May 2006
    Posts
    1,296
    Thanks
    73
    Thanked 283 Times in 216 Posts
    The funny thing is that I also looked on Hellopeter but could find no entry on these guys. Surely if many people have this problem it would be listed there
    Hello Peter is a waste of time.

    I also think that if somebody has invested big bucks and now thinks they have been ripped off, they are unlikely to advertise this event by complaining on Hello Peter. One needs a Noseweek or M&G investigation - somebody serious about these matters.
    The cost of living hasn't affected its popularity.
    Sponsored By: http://www.honeycombhouse.com

  6. #6
    Silver Member
    Join Date
    Jun 2008
    Location
    JHB
    Posts
    271
    Thanks
    73
    Thanked 76 Times in 56 Posts
    Quote Originally Posted by Marq View Post
    Hello Peter is a waste of time.

    One needs a Noseweek or M&G investigation - somebody serious about these matters.
    I agree! Trust your instincts - if it looks, smells, feels and tastes like doggy doo, chances are it's not chocolate.......

  7. #7
    Moderator IanF's Avatar
    Join Date
    Dec 2007
    Location
    Jhb
    Posts
    2,615
    Thanks
    191
    Thanked 520 Times in 398 Posts
    Quote Originally Posted by Martinco View Post
    Maybe the answer is to get a couple of guys from the south of JHB, pay them 10,000 to break both knees
    Martinco
    I stay in the south with all the mainers but have not yet met the knee breakers.
    Only stress when you can change the outcome!

  8. #8
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,980
    Thanks
    3,055
    Thanked 2,463 Times in 2,068 Posts
    Blog Entries
    12
    Here's something on the property related investment lot that I was talking about in an earlier post.
    In the wake of the collapse of Corporate Money Managers (CMM) and its associated entities, including the Cash Management Fund (CMF), placing more than R1 billion of investor money at risk, the Financial Services Board (FSB) has expressed concern about whether credit rating agencies are doing their job properly.

    Fingers are now pointing at GCR's role in the collapse of CMM and its associated entities, most importantly CMF, which held within it a collective investment scheme (a fixed-interest varied specialist unit trust fund). GCR rated CMM, CMF and the associated companies that provided the debt instruments in which CMF invested.

    Of the underlying securitised debt, the most important ratings involved two entities known as special purpose vehicle companies, Four Rivers Trading and Regent Group Capital, which issued promissory notes to CMF based on securitised property developments.
    Full story from Personal Finance here
    The trouble with opportunity is it normally comes dressed up as work.

Similar Threads

  1. Business Investment
    By Norri in forum Business Finance Forum
    Replies: 2
    Last Post: 10-Sep-08, 09:16 PM
  2. Fears for "black box" foreign investment.
    By Dave A in forum General Business Forum
    Replies: 0
    Last Post: 02-Jul-07, 07:50 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •