MBI investors remain unfazed despite crackdown by authorities

INVESTORS of MBI International Sdn Bhd and its subsidiary, Mface International Sdn Bhd, are unfazed over official action taken against the two companies, believing that they could ride out the storm.
"We don't believe MBI would collapse. We believe MBI and Mface would survive the crisis," some of the members were quoted by China Press as saying in a report today.
According to the daily, although some 90 bank accounts with a total of RM177 million linked to MBI, the digital currency – Mcoin – provider, have been frozen following raids on its offices in George Town and Kuala Lumpur earlier this week, its flagship store in M mall as well as its management office located above the shopping complex in George Town remained open on Wednesday.
An investor who did not want to be identified told the daily that MBI and Mface had raised the attention of the enforcement authorities on a number of occasions since its inception.
"They have also come under the spotlight in Hong Kong, Thailand and Taiwan," said the investor.
He said some investors understood that MBI's investment model would not get official sanction in Malaysia but did not believe its scheme has collapsed.
He said investors had remained calm and mum despite the raids and freezing of MBI-linked accounts.
He also said for investors, it was business as usual at M mall as they could still shop and make redemptions.