Promissory notes are debt instruments that allow companies to obtain financing from sources other than a bank. Co-Founder, Chief Executive Officer, Chairman (from 2017) / CoAssets Mr Goh is the Chief Executive Officer and co‐founder of CoAssets Pte Ltd. Looking back, I can understand the frustration you felt towards the company. Bitter wait for CoAssets noteholders as investments turn sour. CoAssets was launched about two years ago as Southeast Asia’s first real-estate crowdfunding website, and now has more than 7,500 registered members. The company also appointed Denka Zhenke Wee and Mark Chew as independent nonexecutive director and executive director on its board, respectively, effective April 7. Getty Goh is the Executive Chairman and Chief Executive Officer of CoAssets Ltd. The CoAssets Group is pleased to announce that we have appointed Mr Denka Wee as CoAssets Group Chairman and CEO. In a Facebook statement that was later taken down, Mr Getty Goh had denied blame for the fiasco. sph Lawrence Lim Getty Goh... Related Articles. Getty Goh, co-founder and former CEO has moved into a new role as Chief Corporate Officer. Firstly thank you for taking the time to write your comments. As a matter of policy, the financial regulator does not disclose its dealings with regulated financial institutions, said a spokesperson. CoAssets was previously listed on the Australian Securities Exchange in 2016, but later applied to delist in April 2020, citing a low number of shareholders and low trading volume. All done! Find the perfect Classes Adult stock photos and editorial news pictures from Getty Images. Aggrieved investors have since filed police reports against CoAssets' co-founders Getty Goh (who was the former group CEO) and Seh Huan Kiat, and have grouped together on social media channels such as Telegram to pursue legal action. Some members' accounts (without outstanding investmets) have already been deleted. This is a dated reply to your 2017 post. View Getty Goh's business profile as Chief Executive Officer & Co-Founder at CoAssets. If you have invested in the ... Reports also said that lawsuits are now being filed against the CoAsset’s co-founders Getty Goh and Seh Huan Kiat. Before founding CoAssets Pte Ltd Mr Goh founded Ascendant … Investors have also filed police reports against CoAssets' co-founders Getty Goh (pictured) and Seh Huan Kiat, and have grouped together to explore legal options. They can read the article in full after signing up for a free account. Co-Founder & Exec Chairman at Coassets Ltd. All Credit Cards Comparison. When asked what plans are in place for investors, CA Funding's CEO Getty Goh declined to comment. To understand CoAssets, it is essential to know the man behind the business. Hundreds of CoAssets' retail investors were left reeling in early December when it came to light that the Singapore-based alternative lending platform had transferred US$30 million (S$39.9 million) of its borrowings to a little-known debt recovery firm Sunfits, according to a Tech in Asia report. In a Facebook statement that was later taken down, Mr Goh had denied blame for the fiasco. CoAssets Limited (CA8) is a public company engaged in online funding, corporate lending and financial technology advisory business through its digitally enabled investor platform. Dear Anonymous Former Employee, This is Getty and I’m the CoAssets Group CEO and Co-Founder. SINGAPORE (THE BUSINESS TIMES) - The Monetary Authority of Singapore (MAS) will review and take necessary action if CoAssets' licensed subsidiary - now known as CA Funding - has breached regulations. We made investments in properties and small-scale development projects in the region. As these promissory notes are higher risk, they are usually offered only to corporate or sophisticated investors. Wee first joined CoAssets as a non-executive chairman on April 7, 2020. We are still a young company and all feedback (whether good or bad) are important to help make CoAssets a better work environment for our team. He holds both a Bachelor in Building Science and a Masters of Real Estate from National University of Singapore. 198402868E. He has a proven track record as a thought leader and entrepreneur with experience in opening new sectors, growing CoAssets from a start-up to a listed company in just two years. Select from premium Classes Adult of the highest quality. The gift link for this subscriber-only article has expired. The chairmanship and group CEO posts were taken over by Denka Wee, director of real estate brokerage firm DWG. Contact us anonymously through this link. But a log-in is still required for our PDFs. It also clarified that it does not regulate the group, but only the specific entity that is licensed with MAS. Share gift link below with your friends and family. This came as Covid-19 was the final nail on the coffin, hitting the alternative lending industry hard and drying up funding. With an average minimum investment of $5,000, investors can back an array of projects in industries. He places the blame on Getty Goh, the ex-group CEO of CoAssets. I thought to myself: why can’t I do this online where the reach is greater? Get unlimited access to all stories at $0.99/month for the first 3 months. Read 3 articles daily and stand to win ST rewards, including the ST News Tablet worth $398. It’s a sweet … Find out what are some of the lessons and near misses. CoAssets first started out as a crowdfunding site for real estate in 2013, but later embarked on a different business model where it set up subsidiaries and issued loans known as promissory notes to investors. Indeed the company was going though a difficult patch in 2017. In early 2020, CoAssets had told investors that it had 17 kg of emeralds worth US$6 million that could be used as collateral. ST FILE PHOTO . This article is now fully available for you, Please verify your e-mail to read this subscriber-only article in full. While it was posted about 2 years ago, i still feel that it warrants a reply from me. Simply Wall St. November 12, 2019, 2:06 PM. Soured Deal With DWG But, there appeared to be a light at the end of the tunnel for CoAssets and investors. January 11, 2021. The earlier plan was for DWG to absorb CoAssets and help investors with an exit, wrote Mr Goh. The Business Times. Getty Goh has been the CEO of CoAssets Limited (ASX:CA8) since 2015. CoAssets shuts down after missing funds controversy . Singapore-based CoAssets Ltd. said April 7 that Getty Goh will step down as chairman of its board. Don't be afraid to invest: Start young, start small. Aggrieved investors have since filed police reports against CoAssets' co-founders Getty Goh (who was the former group CEO) and Seh Huan Kiat, and have grouped together on … In an interview with Tech in Asia, Mr Lim raised issues with the promissory notes such as the lack of transparency, where funds were mostly diverted to one company that invested in projects such as tech startups and film productions. However, the deal failed to take off, with differing accounts on what transpired. West Perth, WA 6005 Getty Goh is CEO/Mng Dir/Co-Founder at CoAssets Ltd. See Getty Goh's compensation, career history, education, & memberships. A Real Estate Man. The company has a two-way approach, which involves helping business owners raise money and giving investors the opportunity to support their desired projects for eventual returns. When queried by The Business Times if the Commercial Affairs Department was handling the matter, the police only confirmed that reports were lodged. January 8, 2021. GETTY GOH: Prior to CoAssets, I started Ascendant Assets, a real estate research and investment consultancy. However, investors who were counting on this guarantee found their hopes dashed, when DWG voided the agreement, citing "suspicious activity" after a review of documents. Aggrieved investors have since filed police reports against CoAssets co-founders Getty Goh, who was the former group chief executive officer, and Seh Huan Kiat, and have grouped together on social media channels such as Telegram to pursue legal action. No. Find contact's direct phone number, email address, work history, and more. Getty Goh, with his co-founder Dr. Seh Huan Kiat, started CoAssets, a crowdfunding platform that connects borrowers and lenders across Asia of quanta below $5 million. We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. “It’s all about reach,” says CoAssets’ co-founder and CEO, Getty Goh. When queried by The Business Times if the Commercial Affairs Department was handling the matter, the police only confirmed that reports were … Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. IT is likely to be a long-drawn affair for CoAssets' promissory noteholders to claw back their investments - if they were to get back any at all, said industry watchers. Getty Goh, CoAssets Founder, presented that the investment was for CoAssets listing on the ASX (Australian Securities Exchange, ticker CA8), for 125,000 shares at AUD 0.40 each. Australia. Follow Getty Goh as he writes about his journey from growing a 2-person start-up to an Australian listed company with offices around Asia. 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