An undated picture of a signage at Singapore state investor Temasek Holdings’ headquarters within the Southeast Asian city-state.
Bryan van der Beek | Bloomberg | Getty Photographs
Singapore’s Temasek Holdings warned that scammers are allegedly attempting to promote monetary funding merchandise or devices to unsuspecting people whereas posing as brokers of the agency’s workplace in Shenzhen, China.
“We have now been alerted to a rip-off in China that entails the impersonation of Temasek in Shenzhen, utilizing our registered workplace identify ‘Temasek Holdings Advisors (Shenzhen) Co., Ltd.’ / ‘淡马锡投资咨询 (深圳) 有限公司’,” Temasek mentioned in a press release Wednesday.
With a internet portfolio worth of 382 billion Singapore {dollars} ($284.5 billion) as of March 31, Temasek Holdings is one in all two Singapore state-owned funding firms, together with the extra conventional sovereign wealth fund GIC. It’s an energetic investor and shareholder with three workplaces in mainland China in Beijing, Shanghai and Shenzhen. Temasek maintains a complete of 13 workplaces in 9 nations exterior of Singapore.
“The scammers fraudulently declare to characterize our Shenzhen workplace and solicit cash from people on the premise of paying them again with commissions,” Temasek mentioned.
“It is a rip-off and isn’t related to Temasek in any means. Temasek doesn’t instantly promote any funding merchandise or monetary devices in China. We have now not licensed any third get together to take action on our behalf,” the Singapore funding firm added.
“We reserve all rights to pursue authorized motion and treatments towards any individual or firm that impersonates Temasek and/or infringes our mental property,” Temasek mentioned.
From pretend Apple and Ikea shops and knock-off Disneylands to counterfeit milk powder, drugs and meals, China struggles with counterfeits which have lately led to antagonistic well being results or swindled victims out of big sums of cash.
Chinese language state information company Xinhua reported Tuesday that Myanmar has transferred a complete of 31,000 suspects to Chinese language authorities so far in a crackdown on telephone fraud originating from northern Myanmar that focused mainland Chinese language.