Monthly Archive for March, 2008

Privatization Duration – from our lawyers

Below is a reply on the Privatization Duration from our lawyers :

“The basic issue is the nature of the exercise.

Explain to residents that the exercise is not an election or a meeting whereby there is an outcome after the conclusion of the said election or meeting.

The exercise is a conveyancing process whereby the flat lessees are applying for replacement title deeds to replace their current HDB leases.

Replacement of title deeds may be compulsory e.g where our Land Authority converts the title under the old Registry of Deeds to the modern Register under our Land Titles Act.

Even the original enbloc sale statutory provisions had no time limit for the owners to sign the Collective Sale Agreement which is the position at general common (non-statute) law.

It took an amending Act of Parliament to set a time limit between the first and last 80% of the owners who sign the Collective Sale Agreement.

Also, neighbors still keep their roof after privatization. In fact, they will have and hold a superior title deed i.e private property SSCT to replace their HDB lease! ” – TAN & AU LLP

Questions from a fellow resident (10/Mar/2008):

Questions from a fellow resident :

——————————————————

1. For Question: 5 above (Privatization FAQs) I notice the answer is clearly evasive; no definite

$$ figures have been given. This is a serious point of concern. Please

commit the lower and upper range of $$ values for maintenance fee for our

estate; do not quote how low it costs for XYZ estate etc; it is meaningless

unless that estate is 100% same as Shunfu , which we all know it is

impossible.

Answer:

We are not being evasive. I guess your concerns are that if we are successful in the privatization exercise but not enbloc per se what would be the revised maintenance fee we need to pay etc. The cost will depend on the new elected Management

Committee and the aspirations of the residents of the estate. The reason is because upon privatization Bishan Toa Payoh Town Council will transfer the balance of existing sinking and operation funds unused to the newly formed MCST Management Committee once we finalized our privatization exercise (it will take approx 18 months to complete). Basically, our pro-tem committee for privatization will be dissolved and a new MCST Management Committee will be formed and an election amongst residents fpr the newly formed MCST will be formed at the AGM to run the newly privatized Shunfu Ville-HUDC estates by appointing qualified managing agent like Emansco (BSTC)/Knight Frank/United Premas etc. This has proven successful for the other privatized estates like Braddell/Lakeview/Farrer Court. For example if residents want full facilities like swimming pool, tennis court, squash court, barbeque pits, gym then the maintenance cost of curse be higher that another estates with no such facilities. Thus we are not able to give exact figures except to draw example of maintenance cost from other existing HUDC estates which have already been privatized and had different facilities. In summary, our estates is still considered a HDB controlled area and run by Bishan Toa Payoh Town Council with its managing agent like Emansco. Presently, the standard of maintenance is not really up to the mark and has room for improvement. Outsiders tend to come and sit at our void decks and dirty the place. Cleaning work is not able to keep pace with the problem. Some residents and particularly maids tend to contribute to the problem(eg dogs urinating etc). Privatization would help to solve these routine issues happening in our estates and thereafter residents should review the standard of maintenance we desire and the price that we are willing to pay for such a service. It will have to be a collective solution with participation from all residents.

2. Why some pro-tem committee members are conducting fear-mongering exercise;

i.e they keep telling residents that if Shunfu is not privatised, HDB will

take over and well will loose lot of $$$. In the real world of course this

is possible and also ALL other things one can imagine are also possible.

But to instill the fear of HDB buy back of Shunfu is unethical and unfounded

as of today. They should stop this immediately.

Answer:

We have informed all our members that HDB encourages all HUDC estate to go

for privatization. The fact is clear we have no choice, we need to privatize regardless whether we want to enbloc or against it. HDB intention is to encourage all HUDC units to privatize – we are the last batch of HUDC Phase 3 & 4 which has yet to be privatized. Other HUDC estates has already been privatized and/or enbloc. HDB will not do any SER as briefed by them. If we put on status quote then we are will come to a standstill. If we don’t get it privatized and let it continues to run as it then will be an estates which will decline in values and depreciates progressively as our units already coming to 25 years old by the times we privatized our estates. We will be at a standstill compared with other privatized estates.

Let us reiterate, we want to be proactive, we all have a stake in it too.

3. Any voting in the world is for a day i.e only one day for a location.

Why for this privatization exercise it stretches

into as many days as required to get the “desired results”?

This is totally unacceptable and all the votes received after that specific

date should be declared null and void and not to be counted.

Answer:

We reckon, you have mixed up with the statutory election whereby voting is compulsory and the law provided it to be so.

Whereas the mass signing for privatization there is no time span as provided by the law. It is clear that we can proceed to garner till we reach the 75% mandatory requirement for the privatization exercise to take place. The HDB encourages us to privatize to unlock our assets. As you may not be aware there are owners who are overseas, did not receive our notification for one reason or another and owners who cannot make it for the two(2) exercise we have set for them to sign. These are just some of the many reasons so that we given more times to garner for the 75% votes for privatization.

The Government intention is clear to us: HUDC needs to be privatized as a form of asset enhancement for the residents (middle income group) . Once the estates is privatized we are given a free hand to run our own private estates similar to Braddell Height/Lake View/ Farrer Court etc.

Have you sign yet. If not, please arrange to come down on these dates :

Date & Time: i) Thursday, 13th March 2008 from 7.30pm to 9.30pm (two

hours)

ii) Sunday, 16th March 2008 from 2.00pm to 4.00pm

(two hours)

Place: At the concrete table of Void Deck 316

Dear fellow resident, we understand that you are concern because you love staying in the estate. All of us share the same view. We would like to see our estate privatised and be exclusive for ourselves and our children. You need to come forward and be counted by first voting for privatisation and when
the estate is privatised, standing up and be elected into the committee to help run the estate.

———————————————————

Answers by KeeWah & Philip @ Shunfu Pro-tem Committee

Letter From Our Residents…

Dear Philip Liau,

I really appreciate your great effort and time to make our Shunfu HUDC Estate to go private. I am here to support you and hopefully the rest of our committee members as well.

It is a good idea and also convenient for those residents who have not signed up to go to Thomson Community Centre bringing along their identity cards as the lawyers will be there on Friday, 7 March 2008.

Let’s work together as a team and try to garner more votes so that we are able to reach 80%.

Well done! Philip Liau, I really have to salute you!

Warmest regards,

Lawrence Low

 

Shunfu Privatization Updates – 67%

Latest Update: 67% “Yes” Votes

Target: 75%

Next Signing Date / Time :

Our lawyers, Tan & Au has confirmed to come on the following date / time to witness your signing for the Privatization Exercise :

Date & Time: i) Thursday, 13th March 2008 from 7.30pm to 9.30pm (two hours)

ii) Sunday, 16th March 2008 from 2.00pm to 4.00pm (two hours)

Place: At the concrete table of Void Deck 316.

Looking forward to your Support!

Solid Support For This Privatization Exercise

Dear All,

We have received very strong support for this privatization exercise over the March 1st/2008 weekend. The preliminary figure we have received is around 65% for the “Yes” votes for just one weekend of signing exercise (subject to the final confirmation from our
Tan & Au). This is very encouraging compare to the previous exercise of 50.1% in 2001.

Thanks everyone for your strong support for this privatization drive. Our dream to Shunfu Ville Condo is now within reach !

Cheers!
Shunfu Ville Privatization Pro-Tem Team