I refuse to believe this report frm Sunday Times today – cos there is no verification of the info which is too extraordinary to believe. This guy at 33 yrs of age has a $30-m gold portfolio? What did he start with? $1 m? If so, gold never went up 30X in the last few years when he was still a young man in his 20s. So how did his gold become worth $30 million?
Another thing is, he said he has achieved 200% p.a. return fr property and business – oi, how? This one is not impossible , if you use big leverage. The report doesn’t say and this guy makes big claims that are impossible to achieve. By the way, his name is Lee Song Teck -- anyone knows more about him?
Q: What financial planning have you done for yourself?
I believe in only real estate and gold, which I can see and touch, and which have real value.
My gold investment portfolio is now worth $30 million.
I have achieved average returns of 200 per cent a year from my property investments and some of my businesses. I plan to achieve a net worth of $200 million; when that happens, I intend to pledge 90 per cent to charity.
Q: Moneywise, what were your growing-up years like?
I am an only child, and I lived on a pig farm until I was eight. Our farm seemed huge, but we were one of the few poor pig farmers at the time.
My father set up the animal pharmaceutical wholesale business while running the farm, and my mother helped him with the accounts.
However, we were quite poor until about 10 years ago because my father, who died when I was 17, was a gambler. My parents used to tell me I must never gamble.
He said he got $30 m gold portfolio - means he got physical gold? In any case, he got something shining worth S$30 m. Ok let's say I swallow that. Then I salute him -- this must be the greatest + best-est investment he ever made. Then, how come when he is asked, he said his best investment is his prop portfolio? And his profit is about S$2.5 million at the end of the day. Oi, Sunday Times, wake up. !
About four years ago, my partner and I bought 32 shophouse units in Kuala Lumpur at an above-market-value price of RM$6 million (S$2.5 million). We renovated it for half a million ringgit, put in a budget hotel business and sold it nine months ago for RM$13 million.
Before we sold it, we had profited from the budget hotel business.
I did the due diligence for 18 months, travelling to KL frequently to look at deals and understand the market
typo probably. /should be $3 m instead of $30 m, which is impossible for a 33-yar-old with only a few years of investing experience. Don't make my toes laugh!
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