I bought 5 containers and after the 3 years i.e September 2018 requested that I be refunded the capital invested. It is now November 26th 2019 and still no refund. I am told to be patient but actually my patience is wearing a bit thin especially as the financial adviser who advised me about this said I should be paid within 3 months. I have just today made them an offer i.e I will accept a refund of just 4 containers and call the whole thing quits i.e. giving them basically $4,100. I will post again if any more developments. By the way the above mentioned financial adviser is not answering phone calls and his last words to me were " I can't help you". I like to be fair to Pacific Tycoon and I can say on the positive side they do answer phone calls and are also very polite on the phone, especially the buy back team hence the 2 stars. Also the accountant there seems very efficient.
I bought 5 containers and the returns were good to start with and after a few months dropped dramatically. I requested to be refunded in August/Sept 2018 and they asked me to wait until September 2019. I will wait until the end of September 2019 and then see what happens but on communication with them they can give no guarantee that I will be refunded by the end of September. There are so many negative reviews on the web and so I will actually be surprised if a refund will be forthcoming. At present the only thing I can do about this is pray!
Once they realized you're a interested in investing in containers, they try to make you buy more but it's a trap. I'm glad I only invested in one container.
Every thing looks normal in the beginnig, they used to send me a dividend evey three months and then they sent me the following message:
While preparing for your upcoming payment of 3rd Quarter 2015, we noticed that your income is USD 36.54 less than USD 50.
So, in order to save bank charges and possible other fees which may apply both sides, we would like to suggest that this payment will be carried forward to your next income (your 4th quarter 2015 income payment on January 23rd, 2016)
And then less than a year I received this message
Due to the recent Panama Papers scandal, it has been very hard for us to transfer money to you, because the bank limits the number of payer paid in USD. We are looking for a solution to pay you the money on time.
We have suffered a lot of compliance from the bank due to transferring money. If the transfer gets compliance, it could take more than 3 weeks for the bank to check and review the payment, and the money might be returned back to us.
Therefore, please provide us a bank account in GBP or EUR currency so that we can process the payment for you as soon as possible. In case you don't have bank account in these currencies, please also ask your bank whether they can receive multiple currency like GBP or EUR.
When I decided to sell my container, they started giving excuses every single month like the following:
Your income statement will be delayed a little due to a system upgrade and maintenance at the weekend.
You will receive it within the next few days. We trust this does not overly inconvenience you and apologize for the delay.
Then this...
We hereby confirm we have received the request of buying back your containers.
However, the buy back procedure is being closed at the moment for the company's final report and the holidays season.
We will contact you back in January for more information.
Now they don't answer my emails anymore and I'm not able to speak to none of them (mrs Caroline Conti is never available neither mr Jack Lam, Marie Hamilton, Daniel Blake, etc.)
Pacific Tycoon Reviews
Pacific Tycoon delay of refund
I bought 5 containers and after the 3 years i.e September 2018 requested that I be refunded the capital invested. It is now November 26th 2019 and still no refund. I am told to be patient but actually my patience is wearing a bit thin especially as the financial adviser who advised me about this said I should be paid within 3 months. I have just today made them an offer i.e I will accept a refund of just 4 containers and call the whole thing quits i.e. giving them basically $4,100. I will post again if any more developments. By the way the above mentioned financial adviser is not answering phone calls and his last words to me were " I can't help you". I like to be fair to Pacific Tycoon and I can say on the positive side they do answer phone calls and are also very polite on the phone, especially the buy back team hence the 2 stars. Also the accountant there seems very efficient.
Buy Back
I bought 5 containers and the returns were good to start with and after a few months dropped dramatically. I requested to be refunded in August/Sept 2018 and they asked me to wait until September 2019. I will wait until the end of September 2019 and then see what happens but on communication with them they can give no guarantee that I will be refunded by the end of September. There are so many negative reviews on the web and so I will actually be surprised if a refund will be forthcoming. At present the only thing I can do about this is pray!
Once they realized you're a interested in investing in containers, they try to make you buy more but it's a trap. I'm glad I only invested in one container.
Every thing looks normal in the beginnig, they used to send me a dividend evey three months and then they sent me the following message:
While preparing for your upcoming payment of 3rd Quarter 2015, we noticed that your income is USD 36.54 less than USD 50.
So, in order to save bank charges and possible other fees which may apply both sides, we would like to suggest that this payment will be carried forward to your next income (your 4th quarter 2015 income payment on January 23rd, 2016)
And then less than a year I received this message
Due to the recent Panama Papers scandal, it has been very hard for us to transfer money to you, because the bank limits the number of payer paid in USD. We are looking for a solution to pay you the money on time.
We have suffered a lot of compliance from the bank due to transferring money. If the transfer gets compliance, it could take more than 3 weeks for the bank to check and review the payment, and the money might be returned back to us.
Therefore, please provide us a bank account in GBP or EUR currency so that we can process the payment for you as soon as possible. In case you don't have bank account in these currencies, please also ask your bank whether they can receive multiple currency like GBP or EUR.
When I decided to sell my container, they started giving excuses every single month like the following:
Your income statement will be delayed a little due to a system upgrade and maintenance at the weekend.
You will receive it within the next few days. We trust this does not overly inconvenience you and apologize for the delay.
Then this...
We hereby confirm we have received the request of buying back your containers.
However, the buy back procedure is being closed at the moment for the company's final report and the holidays season.
We will contact you back in January for more information.
Now they don't answer my emails anymore and I'm not able to speak to none of them (mrs Caroline Conti is never available neither mr Jack Lam, Marie Hamilton, Daniel Blake, etc.)
They should all end up in jail!
Did you get anything back?
Have you had any luck with having your buyback completed? It's been 2 years since we've requested ours and still nothing. We're told to be patient.