https://quantummetal.com.my/
Version 17th August 2024PRESS RELEASEFOR IMMEDIATE RELEASE
Guarantee of Settlement of Payments, Preservation of Financial Integrity and Ensuring the Security of the Interests of All Stakeholders
Good morning to all present.
First of all, I would like to express my deepest appreciation to all of you who have taken the time to be with us this morning. This media conference was held to provide a clear and comprehensive explanation and to dispel any misunderstandings, baseless statements, and slander that continues to be thrown against Syarikat Quantum Metal Sdn Bhd.
I would like to express my heartfelt appreciation to everyone who has given continuous support to Quantum Metal, especially the customers, members, and consultants who remain patient and optimistic about our future together. Your support is fundamental to our commitment to moving forward.
Since its establishment, Quantum Metal Sdn Bhd has played an important role in helping many parties to gain profit through gold transactions handled by this company. We have demonstrated a strong record of payments made to buyers and members, which reflects our customers' trust and confidence in our services.
For everyone's information, since 2020, Quantum Metal Sdn Bhd has made payments totaling RM10,503,000 to buyers and members. In 2021, this payment will increase to RM187,650,000. In 2022, the total amount of payments jumped to RM1.3 billion, and in 2023, as much as RM3 billion was channeled to buyers, members, and consultants as a result of buying and selling gold with Quantum Metal Sdn Bhd.
However, since December 2023, we face a new challenge due to the sudden increase in the price of gold. This positive development has attracted the interest of many parties to sell their gold simultaneously. While we welcome this decision, it requires us to carefully manage and coordinate the fund facility to ensure that the repayment process can be carried out smoothly.
Quantum Metal Sdn Bhd is actively managing the fund facility for Quantum Metal Bullion (QM Bullion) to ensure that payments to all parties can be made immediately. We are committed to obtaining an injection of additional funds from financial institutions as soon as possible. We would like to emphasize that this process is ongoing and we are confident that a solution will be reached in the near future.
Our Commitment to Payment Issue Resolution
We understand the concerns that exist among buyers, members, and consultants. Therefore, we would like to assure you that a comprehensive repayment plan is being drawn up and will be announced in the near future. We set a clear timeline to ensure that all outstanding payments will be resolved, and that all parties involved will receive their full rights. We will ensure that no one will be left out in this process.
We have also sought legal advice and have taken the necessary compliance measures, including the termination of consultants who do not comply with Quantum Metal Bullion Exchange's code of ethics. These strict measures are taken to protect the integrity of our service and ensure that all transactions are conducted responsibly.
We are pleased to announce that Besra's gold mining operations are growing rapidly, in line with our commitment to “Preserve and Grow Your Wealth.” The gold you own is guaranteed to be safe and fully protected.
We have also worked closely with consulting lawyers to formulate effective solutions for all our members. The settlement of outstanding payments will be announced shortly. We remain steadfast in providing ongoing support and will ensure transparent and open communication through this platform.
Conclusion
We are always committed and will continue to work to resolve this issue as soon as possible. Our priority is to ensure that the interests of buyers, members, and consultants are always protected. We request the good service of all buyers, members, and consultants to give us some time and space to solve all these problems. We deeply regret all the difficulties experienced and thank you immensely for the cooperation and support that has been given by all parties.
We ensure that every action taken is to protect the interests of you, the customers, investors and all stakeholders of Quantum Metal and we are confident that we will successfully resolve this issue promptly and effectively.
The True One,
Dato' Lim Khong Soon
CEO, Quantum Metal Sdn Bhd
Ann: Appointment of Chief Financial Officer, page-22
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