22 August 2005

Ah Longs advertising on NST.com.my

While looking through the online version of NST, I found this advert in the highlights section of the front page.

Click Here for the img capture of the whole page.

Clicking on the banner takes us to Vault Credit Co, it informs us that this is the "online branding name" for Siang Wang Trading KL. A quick glance through Bank Negara's list of licensed banking institutions informs us that neither Siang Wang Trading or Vault Credit is listed as a licensed provider of credit in Malaysia.

To enquire about a loan, you can either contact them through e-mail to VaultCreditCompany@yahoo.com or calling "Mr. Alan" of Mr. Kenny" on their respective mobile phone numbers. Their interest charges are 12% for collateral secured loans 18% for unsecured loans. Its not mentioned whether these rates are per annum or otherwise. The main benefits of dealing with them are listed as No Collateral! No Guarantor! Easy Application! Fast Approvals! Low Interest Rates! & Full Confidentiality!

Is this an Ah Long* operation? If so, why is NST accepting advertisements for an illegal business on its website?

* trans. a loan shark

3 Comments:

At 8/22/2005 9:29 pm, Anonymous LcF said...

ah long website?! Cook!

 
At 9/02/2005 12:11 am, Blogger EngLee said...

A traditional Ah Long has evolve to integrate new technologies. Good! Good!

 
At 3/16/2007 7:36 am, Anonymous Anonymous said...

NSU - 4ever, 5210 - rulez
gandon
gandon

 

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