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.”
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.
Singapore has started to ban all short-term visitors (less than 90 days) into the country as of today 11:59pm. The tightening of our borders is an additional measure to containing the covid-19 outbreak.
Now, what about AirBnb?
According to the South China Morning Post, the latest update on the Wuhan virus is close to 4500 people infected in China, with 106 deaths. “In addition to air transmission, the coronavirus can be spread through physical contact, China’s National Health Commission (NHC) said on Tuesday” (SCMP 28 Jan 2020)
No doubt our government is highly concerned and has swiftly implemented measures to keep Singapore safe. These include tracking at risk personnel and keeping them quarantined. I recall the overly restrictive (but on hindsight, forward-looking) rules of People’s Park Complex. Last August they decided to track and restrict visitors for vice. I believe the residents now benefit from an additional layer of administrative protection from the Wuhan virus.
“too little, too late”
Petróleos Mexicanos (Pemex) is the state-owned petroleum company of Mexico. In its prime, Pemex had assets worth $415 billion. It was also the world’s second-largest non-publicly listed company in 2005.
Today, Pemex is the world’s most indebted oil company with $176 billion of debts and liabilities. The Mexican government announced a $5 billion bailout for the company this year. However analysts say it needs to invest at least $10-$13 billion a year.
How did that happened over less than 15 years? Well, in short, years of disregard and non-maintenance. This is similar to managing a condo. Take for example the following chain of events: