Condo resident asks MA for transparency on facebook

A resident took to facebook group MCST and posted the following.

To which a few others replied…

I assume every seven years the residents re-accumulate the equivalent of 60% of their existing Sinking fund. Sounds like one of the following.

1. The condo has very few things to maintain, except for painting. 2. Condo is running out of funds after the paint job. (see previous post)

If only more residents start attending AGMs/ EOGMs, asking the right questions (“not the second parking lot”). Then will the prudent decisions be made.

As to Fand’s question about how an AGM can be conducted without sufficient owners. A quick reference to BCA will show you the criterion. See screenshot below.

Don’t play play, ah!

There is a well-known quote by Warren Buffett about economic or financial crisis. “When the tide goes out do you discover who’s been swimming naked.” In recent years, I notice a rise in complaints against MCST council and Managing agents. To be fair, some are trivial issues voiced by overly-sensitive residents, while others can be as severe as mismanagement, extreme lack of financial prudence and even ‘hidden political agendas’.

Usually these are discussed openly in AGMs or in private with the MA. However in the current covid-19 crisis, many subsidiary proprietors (SPs) have found time to publicized their concerns on social media. I was told these pent-up frustrations have been accumulating for years in a number of condominiums around Singapore.

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Minutes not accurate? Sia Suay, secretary.

The AGM is a serious meeting for all owners in the condo development. The agenda is set in advance and should be strictly adhered to. An example of the sequence can be found in BCA’s strata handbook:

♦ The election of council members

♦ A motion for the adoption of the financial statement for the past financial period

♦ A motion to confirm the minutes of the last general meeting

♦ Other motions for consideration

Thereafter the meeting is documented and reviewed by other members of the committee to verify. There is very little room for error when conducted clearly and transparently.

How is it that an MC secretary (who happens to be a practicing lawyer) cannot clearly record the meeting minutes?

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Drama over for Pine Grove?

I am glad the six month impasse has finally ended. “The keys to the management office were given to the new managing agent on Monday, after an all-day affair which saw the police called in for assistance.”

https://www.straitstimes.com/singapore/row-over-running-of-pine-grove-condo-ends

From all that has been reported in the media, the 22nd Management Council (MC) clearly raises my eyebrow when they tried to postpone AGM at the final hour. This is totally unacceptable. From my years of being MC Chairman, the AGM date cannot be rescheduled unless two criterion are met.

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