Kuala Lumpur, 15th July 2024 – Areca Capital Sdn Berhad (“Areca Capital” or the “Company”) has been targeted by scams involving the malicious impersonation of Areca Capital or its key personnel and representatives on social media platforms, particularly its Chief Executive Officer, Danny Wong Teck Meng.
The Company has discovered a concerning number of impersonations on Facebook, with a significant increase in recent months. As emphasized in previous notices and social media posts, the Company reiterates that these fake pages and sponsored advertisements are not affiliated with Areca Capital or its key personnel and representatives.
Any communication not originating from the Company’s verified and official website and social media channels (Facebook, LinkedIn and YouTube) is unauthorized, unlawful, and intended to mislead or deceive the public. This includes any communication supposedly from the Company’s Chief Executive Officer, Board members, key personnel or representatives.
While the Company swiftly addresses and reports detected scams, it is deeply concerned that the delay in removing these pages by the relevant platform significantly increases the risk of innocent and unsuspecting individuals disclosing personal information or being deceived by these unauthorized solicitations or invitations. Recognizing the severity of this issue, the Company has reported these scams to the relevant law enforcement agencies and is working diligently with the authorities to prevent further fraudulent acts.
The public is urged to remain vigilant and avoid falling victim to scams. They can help prevent online scams by reporting any fraudulent activities that misuse Areca Capital or its key personnel or representative’s name, logo, or image. The Company reiterates that Danny Wong Teck Meng (Chief Executive Officer of Areca Capital) or other key personnel and representatives do not and will not run sponsored advertisements or issue invitations to ‘exclusive stock tips’ groups. Additionally, please be aware that the Company do not have any official WhatsApp group with their investors.
If members of the public encounter unsolicited or suspicious communications claiming to be from key personnel or representatives of Areca Capital, they are encouraged to email invest@arecacapital.com or call 03-7956 3111 to verify the authenticity of the message. Always verify and report any doubts or suspicious activities.
Some Examples of the Fake Facebook Advertisements:
About Areca Capital:
Established in 2006, Areca Capital is a private wealth management company licensed by the Securities Commission Malaysia to manage and distribute private mandates, unit trust funds and regulated activities of financial planning and investment advice. The Company is registered with the Federation of Investment Managers Malaysia as one of the institutional unit trust advisors to distribute and market unit trust funds of other fund houses. Currently, it manages more than 57-unit trust and wholesale funds, with a total value of funds under management within the group in excess of RM5.08 billion as of the end of June 2024. Read more about Areca Capital at http://www.arecacapital.com/.
For further information, please contact:
Mr. Wong Chaw Chern: ccwong@arecacapital.com
Ms. Lim Ke-Yi: kylim@arecacapital.com
