Chance for Malaysians to invest in Nova Scotia country club development

KUALA LUMPUR: TFDC Asiacorp Bhd is offering Malaysians an opportunity to invest in the Forest Lakes Country Club Development Investment Scheme (FLCC), the country's first global property development investment tool, for as low as C$8,640.(RM26, 580)

TFDC chief executive officer William Ng said the FLCC is a highly regulated and secured investment form that is unique to the Malaysian market and very profitable because it involves a 670ha resort township with approved development order.

By investing in the FLCC, investors will have a share in the Forest Lakes Country Club development project in Nova Scotia, Canada.

The developer for the project is Terra Firma Development Corp Ltd, a Canada-based property developer, and parent for TFDC.

Ng said the FLCC can offer investors up to 80 per cent returns on their investment in the project over a two year to five year period.

He said the FLCC is protected with a parcel of land secured within the development and the profit is determined by an independent valuation report prepared by an accredited valuer.

"The scheme allow investors to own development interest plots in the project and enjoy capital appreciation. The size of one unit interest plot, is one tenth of an acre," Ng said.

The units are sold by prospectus and the scheme was launched here on March 28.

Ng said for the initial stage, 500 units are being offered to small-to-medium sized investors.

"This is strictly not an income yielding plan but a capital wealth generating scheme with the types of return expected. The scheme is highly secure with multiple exit options for the investors," Ng said.

Ng said the FLCC as been approved and regulated by the Companies Commission of Malaysia. All investment is held in a trust by HSBC Bank (Malaysia) Bhd, and managed by Pacific Trustees Bhd.

Ng said the FLCC is different than land banking, which is also an investment product but investments are made on unapproved land for development.

"Land banking can be a very risky investment due to uncertainty of time on when they can get approval for land classification and development.

"Their value increase is subjected to only when the classification of land has been changed to housing," Ng said.

By Business Times