Announcement

“Through careful observation and consideration, we would like to announce that all fee levels will be merged and deducted to 28% (after basic profit rate). This means that most of our partners will be able to enjoy a better level of fee, and we will no longer maintain the multi-level fee structure…We acknowledge that this could cause some wonder due to the conflict of interest in the decision itself. No mortal wants to hurt himself after all. Nevertheless, by balancing all parties’ benefits and enhancing partner experiences, we believe we will be able to benefit the most through the retention of a decades-long partnership with our partners.”

“….The partnership portal is our continuous affirmation towards the core value of transparency and strategic partnership. This portal is designed to provide easier access to making requests including Funding and Withdrawal, as well as keep track of Total Transaction Record on Investment Account….”

“…Change our Performance Fee Policy from “Investment Performance Base” to “Total Performance Base” for the best interest of our Partners…. we realize that previous policy does not fully align both parties incentives and tends to hurt our partners…. – “I earn you pay situation”…. this lead to the scenario where we earn extra benefit from higher investment operation profitability but are not the one responsible for the related cost…. – “Our partners are less likely to earn more interest than paying out”…. This means that, assuming with the same amount of cash, our partners will need to receive a saving interest for free cash in 153 days (~5 months) to offset an interest payment for 100 days (~3months) of loan. The real effect might be larger, as once we invest, we tend to hold investment to generate profit through time….”

“….Potential Impact –  In order to address the issue, the date of Purchase Transactions has been altered, and 1 extra day has been added. We expect this will cause the mismatch between the transaction records on ShareSight and the “Official Confirmation of Transactions” in the future….”

“….However, as the operation is related to the International Monetary Transfer System, we have to comply with The AMLATFPUAA Policy (Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act). Following this, we have to strictly require our partners to sign 2 forms before they are allowed to join the new service….”

“….The broker we operate in Singapore is “Interactive Broker”, one of the most reputable broker in US since 1978. Long establishment with high level of reputation give us a reason to believe that this is a destination to store our own as well as our partners’ wealth through the persistent of time…..”

“Previously, we did not have any plans to put any announcements like this on the hot topic of US Taxation that has been running all over the newspaper recently. As we stated clearly before, we do not favor short-term economic forecasts in the process of investment decision-making. This means that we not planning to put frequent forecasts out every time things happen. Nevertheless, a few partners have asked us about the topic and we think it will be more appropriate to make an announcement to share our thoughts on the matter to everyone now, instead of waiting until the next annual letter….What we want to say here is that, forecasting economics in the short-term is like gambling. If u make enough forecasts, one of those forecast of yours have to be right, and people will just forget all of the wrong forecasts and cheer the one you correct, which is just nonsense for us. Moreover, that is not how we gonna deal with things, there is no point in ruining a decision that is based on reliable information (long-term company economics) and making a decision based on a 50/50 chance forecast…..”

“The recent fraud in Vietnam’s Investment Industry has caused many worries for some of our partners. We totally understand these worries as there are some similar aspects on the surface of the matter. Specifically, these worries are extremely reasonable as it is built up through time due to many similar frauds that happened in the past with much sadness and an enormous loss for victims. Logically, we think these frauds will continue to happen in Vietnam due to a young economic and law system, where restrictions, experience, and fundamental knowledge of the financial market in society remain limited. This creates a huge advantage for financial criminals …. instead of providing evidence saying that we are not those fraud activities, we want our partners to….”

“2024 is a remarkable year for T&Q. This is the year we truly scale up our service. Some of you might have paired with us since 2023 or even earlier, while it is the first year of many others. Regardless of situations, we all hope that a reasonable trust could be created in the time you had gone through with us….”