Official Statement from Envysion’s Management
This has resulted in misunderstandings of Envysion’s role in the case and its business operations.
To set the records straight, below are some of the facts to provide clarity to the case.
- Envysion, like many high-profile investors of EGT, is just one of the investors of the receivable financing contract offered by EGT and as stated by the Authorities, a potential victim.
- Envysion is not related to EGT nor EAM. We are a wholly owned separate company from the two companies.
- Envysion is an MAS CMS licensed entity founded by reputable and credible veterans in the financial industry. Most of whom are licensed representative and highly qualified professionals.
- Envysion had taken the initiative and necessary actions to protect investors’ interest, such as ceasing the subscription and informing EGT of the fund’s redemption instruction for full exposure, immediately when the news broke out before any instruction coming from the authorities.
- We are working alongside with the regulator and cooperating with the authority in providing information and helping in the investigation.
- There is NO accusation of any wrongdoing by Envysion.
- Envysion had performed due diligence prior to the launch of the fund, and this due diligence continued throughout the investment period of the fund. The due diligence was robust and is comparable to most industry standard adopted by big financial institutions or asset management companies.
- Envysion has engaged a team of legal representatives and is acting according to the legal advice in all matters.
- Investment risk disclosure including such counter party risk was highlighted in all our marketing materials and all clients are accredited investors.
- The fund is one of the products Envysion has offered, and we have always advised our clients on portfolio diversification across different asset classes to avoid concentration risk in any exposure.
- Envysion remains business as usual and we continue with our primary focus of expanding our scope of services and diversifying clients’ portfolio across different types of investments.
- We have healthy pipelines of business opportunities and will continue our growth in the region as planned.
- Envysion’s rights are fully reserved
- We would like to thank all our clients, business partners, vendors for their continued support of Envysion in this difficult time.