Spin 11: Anthony Yong earns no commission from sales of GPS devices at M3Tech

This just in via email: In his declaration to Malfreemaps members, Anthony Yong says he doesn't earn any commission from sales of GPS devices sold by M3Tech. What he doesn't tell you is that by being a shareholder, this allows him to earn more money from those sales, i.e. from M3Tech's profit.

If a Garmin GPS device costs RM1000, the commission that goes to the salesperson is usually about RM50-RM100. Now hear this: The profit of the sale for that particular GPS device can be anywhere between RM300 to RM500! A profit is a markup of the price from cost. That's a lot more "commission" than a salesperson would get!!

Now bear in mind that M3Tech's core business is not just selling GPS devices. See here for M3Tech's other Products & Services. That's a lot of money to be made there as a shareholder!!

Anthony Yong is one smart man. He is transparent no doubt but lets take that transparency a little further. Please divulge the monthly consultant fee you are getting from M3Tech and yearly dividends as a shareholder.

If we do not get the dividend data from Anthony Yong himself, we can still find out from the Registrar of Companies (ROC) how many percent of shares he owns in M3Tech and what was M3Tech's profit for fiscal year 2008. From there we can calculate the dividend he earns as a shareholder. Can someone volunteer to spend RM30 to do an ROC search for M3Tech and send me the Company Audited Reports for 2008, usually in PDF format (see sample). Thank you.

Update 19th March 2009: Anthony Yong earns RM5,000 a month at M3Tech