A Singaporean man says he could lose about S$157,000 after transferring some S$368,000 to an Indonesian woman for a sports-equipment business.
The man, identified by his surname Zhou, told Shin Min Daily News that he made 84 transfers between February and August 2026.
He has since lodged police reports in Singapore and Indonesia. Singapore police confirmed that a report was made and investigations are ongoing.
The allegations against the Indonesian woman have not been proven. Shin Min tried to contact her but did not receive a response by its publication deadline.
He Said Earlier Investments Actually Made Money
According to Zhou, who is in his 30s and works as a consultant, a friend introduced him to the Indonesian woman in Batam in February.
The woman, who goes by the name Mariie, told him that she operated a sports-equipment business producing items including padel gear and yoga mats.
Zhou said the proposed arrangement involved him paying 90 per cent of production costs and receiving as much as 90 per cent of the eventual sales revenue.
He said he was initially reassured after being shown factories and shops, and because some of his early investments generated returns.
For one batch, Zhou told Shin Min that he put in about 877.7 million rupiah and later received 1.3 billion rupiah. Shin Min converted these sums to about S$66,000 and S$98,000 respectively.
That early success, he said, was why he continued putting money into the venture.
84 Transfers Totalled About S$368,000
Between February and August, Zhou said he made 84 transfers totalling about S$368,000.
Over the same period, he said he received approximately S$211,000 back, leaving around S$157,000 that he fears he may not recover.
According to Zhou, his transfers were intended to fund goods for 33 orders. However, he claimed that 25 of those orders had yet to be fulfilled.
He further claimed that those outstanding orders were supposed to produce about S$394,000 in profit, but he now fears he may not even recover his original funds.
Man Says He Eventually Asked for His Money Back
Zhou said his concerns grew as agreed payment deadlines were missed.
He also claimed that when he contacted a Pilates studio that the woman had mentioned in connection with an order, the business told him it had never placed such an order.
On 7 September, according to Zhou, the woman asked him for another 35 million rupiah, which Shin Min put at about S$2,600. She allegedly said the money was needed to repay another buyer who had gone to the police.
Zhou said he refused to make the additional transfer and instead asked for his money to be returned.
He said the woman later proposed going to Bali together to settle the unfinished orders and arrange repayment. However, Zhou claimed he had not received a refund and had stopped receiving responses from her after 15 September.
He subsequently reported the matter to authorities in both countries.
For now, the case remains under investigation in Singapore, and Zhou’s allegations about the business arrangement have not been established by the authorities.
