Businesswoman Loses RM630,000 to Fraud by Entrepreneurship Academy
A Harrowing Experience for Singer Noraniza Idris
Singer Noraniza Idris, 57, had a promising collaboration with a local entrepreneurship academy to promote her murukku business, but it turned out to be a costly mistake. The singer has lodged a police report, claiming that the academy’s failure to pay for the products has caused her business to suffer a staggering RM630,000 in losses.
The Turning Point
Noraniza realized she had been deceived when the academy failed to make payments despite taking 20,000 packs of murukku products since both parties signed the collaboration agreement in May last year. The losses included the cost of a specialized murukku-making machine, label printers, packaging, and salaries for 20 employees.
The Proposal and the Breach
The entrepreneur said the academy approached her with a proposal to use her product for their corporate social responsibility (CSR) program. She agreed to provide 5,000 packs of murukku every month to support their initiative. However, she started sensing something was amiss in June last year when the academy kept giving excuses every time she asked about payments. They also breached the agreement by only paying around RM3,000 in installments.
Consequences of the Breach
The breach had a significant impact on Noraniza’s business. She had to lay off 10 employees as she could no longer afford to pay their salaries. The incident has also emotionally affected her family, who have worked hard to build the snack company over the past year.
A Call for Justice
Noraniza is determined to file this police report to reclaim her rights and help prevent others from being deceived by the academy. She hopes those involved will step forward and provide answers. "I feel sorry for my children. They sacrificed their time, staying up late at night to ensure the factory continued running," she said.
Conclusion
Noraniza’s experience serves as a cautionary tale for entrepreneurs and small business owners. It is essential to be vigilant and thoroughly research any potential partners or collaborators to avoid falling victim to fraudulent schemes. The incident also highlights the importance of having a clear understanding of the terms and conditions of any agreement before signing.
Frequently Asked Questions
Q: What is murukku?
A: Murukku is a type of snack popular in Malaysia, made from a mixture of rice flour, coconut milk, and spices.
Q: What is the extent of the loss suffered by Noraniza’s business?
A: The business has suffered a loss of nearly RM630,000 due to the academy’s failure to pay for the products.
Q: How many employees were laid off as a result of the breach?
A: 10 employees were laid off due to the business’s financial difficulties resulting from the breach of the agreement.