Thursday, August 22, 2013

6. BV points

UV members must understand how they get their BV --
 
This BV issue has been brought to my attention and I would like UV to do an audit on this as follows:-
An investor OI invested USD 800 X 3 on 23- March, 2013 = USD2,400

The same investor OI enlarged its investment to another 4 X USD 800 on 9th April, 2013= USD3,200
The wife of same investor OI joined with USD800 X 3 on 30th May, 2013 = USD2,400
The friend of the investor OI, known as A joined with USD800 X 3 on 30th May, 2013 under the wife of the same investor OI = USD2,400.
The same investor OI extended/self sponsored its investment with two lots USD1,200 X 2 in the first week of June, 2013 = USD2,400.
Another friend B joined in July, 2013 sponsored by same investor OI USD250 X 1 = USD 250.
Friend A sponsored C for USD1,200 X 3 in mid July, 2013 under A = USD 3,600.
So in summary:-
OI has invested USD8,000; wife of OI USD2,400 and friends of OI - ABC USD6,250 with a total of 16,650.
OI as at 19th August, 2013 only 14,200 BV, wife of OI 800BV; making a total of 15,000BV which cannot be used to sponsor withdrawal since recent new ruling on withdrawal and this do not make any sense for such investors.
The BV status for OI’s lots are Lot 1, 9700BV; lot 2, 800BV; lot 3, 800BV; lot 4, 1,700BV, Lot 5, 0BV, Lot 6, 0BV and lot 7, 1,200BV lot 8, 0BV, Lot 9, 0BV.

The BV status for OI’s wife lot1, 800; lot2, 0BV; lot 3, 0BV.

NB: I will get the BV status of A, B and C for audit and comparison purpose.
 
It is very important to get it right in this BV for the temporary ruling on withdrawal.
 
Joshua Kong

  USD -self wife ABC  
  2,400      
  3,200      
    2,400 2,400  
  2,400   250  
      3,600  
         
  8,000 2,400 6,250 16,650



Lot No BV Should allow e-wallet withdrawal
MY lot 1 9,700 3,000
MY lot 2 800 300
MY lot3 800 300
MY lot 4 1,700 480
MY lot 5 0  
MY lot 6 0  
MY lot 7 1,200 480
MY wife lot 1 800 300
MY wife lot 2 0  
MY wife lot 3 0  
MY lot 8 0  
MY lot 9 0  
Total 15,000 4,860
The latest withdrawal ruling should consider existing BV of earlier investors.

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