Magnum Impex Limited
Magnum Impex Ltd.
Room 103 Car Po Commercial Bldg, 10-20 Lyndhurst Terrace, Central Hong Kong
Initial contact with the supplier:
Type of product(s) being purchased:
Clothing and Socks
Value of the Purchase Order when the incident occurred:
Greater than 1 Million USD
Destination market of order in question:
Republic of South Africa
Type of Complaint(s):
compromised intellectual property, contract violations, scams & other unethical activities
Stage of relationship with the supplier at the time of the incident:
I have known this supplier in China for more than 10 years. I have agreed with one of the owners that I will introduce him to South African businesses and in exchange he will pay me a 5% commission on every order placed with him via these companies. After introducing the supplier to South African companies he began to negotiate with them directly and transact without keeping me updated or even telling me he was doing so. He proceeded with this until I visited one of the clients and noticed his goods are there. I questioned him and at this point he mentioned that he does not want to deal with me anymore and he continued to deal with the clients I have introduced to them. The Chinese supplier is noted for exporting a lot of goods to South Africa and under-invoicing the goods to the clients in South Africa on an ongoing basis.
Do not trust anyone even if you know them for a long time and perceive them to be your friends. There are no friends in business, just people waiting to take the best advantage from you that they can to make a some money. Money means more than friendship in the business environment