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
Thanks for the updates.
I have some questions:
1) What is the date line or the final day for this privatization exercise?
2) 65% is base on the total number of people voted or base on the number of successful unit voted? ie: if only one of the two owners voted ‘yes’, do you consider this as no vote, or 0.5 vote?
3) How often do we get to know the latest vote %?
Thank you.
Cheers…..
hi mr ng,
1) privatization exercise has no time limit
2) the % is based on complete votes (signed by all owners of each unit)
3) as and when we get updates from our Lawyers and when we are available to post the updates
cheers!
dave @ Shunfu Privatization Pro-Tem
Some questions about the privatisation / application for SSCT:
1.Funds held by town council and to be handed over by them upon privatisation:
(a) What was the size of the sinking and operating funds when privatisation was first brought up in 2001?
(b) What is the size of the sinking and operating funds currently?
(c) what is the size of the sinking and operating funds that is expected to be handed over (assuming privatisation is completed in about 2 years time)?
(d) What was the list of works which our estate had requested the Town Council to carry out during the 2001 exercise?
(e) The list of works that Town Council agreed to carry out?
(f) The list of works actually done, whether these were to the extent we requested or only partially carried out?
2.(a) What is the Town Council’s expenses per month for the maintenance of the estate?
(b) Is the Town Council able to give us information on the existing costs of our regular maintenance per year?
(c) What is the apportionment between the operating and sinking fund from our the conservancy fees paid by us?
3.(a) In the next 5 years, what are the ‘big ticket’ items that are due (or expected) to be replaced/upgraded or carried out due to the age of the estate?
(b) What is the estimated costs of these based on the Town Council’s information/experience or that of any member of the pro-tem committee?
4.(a) Does the $30,000 privatisation costs include the costs of obtaining a condominium status?
(b) If not, what is additional cost?
(c) Assuming we have not reached the CPF maximum withdrawal limit, can we use our CPF money to pay for the costs of privatisation (or a portion of it)?
5.What is the estimate of disbursements (in addition to the lawyer’s fees) that each unit will have to bear? This will help us get a more accurate figure on the amount of money each unit will need to pay for the entire privatisation exercise.
6.Are there any costs to be incurred by us in relation to the mortgage or CPF charge or to the Mortagee/CPF lawyers by reason of this privatisation?
7.(a) Since there is no ‘cut off’ date for the collection of signatures for the application for privatisation, would we be able to (or do we have to) withdraw our vote if we want to sell our unit individually before the application for SSCT?
(b) If we have voted ‘yes’, does it mean that we cannot sell the property during the period before privatisation?
8.Vision for the estate.
(a) Do the owners who voted in favour of privatisation (or the pro-tem committee) have in mind a list of the works/facilities which would be installed after privatisation (e.g security cameras, BBQ pits, function room, MCST office and it’s location on the estate)?
(b) Or do we wait to fight over this only after privatisation?
(c) Would having a list not make it easier to estimate the maintenance fees to be levied after privatisation?
9.While HDB insists on the construction of a fence, do we know how many gates there will be besides the main carpark entrance? By how much will additional gates add to the costs?
10.Is it not misleading to suggest that Braddell View’s higher transaction prices is because the estate has been privatised when in fact, Braddell View has not been privatised?
11.Is there truth in the fear-mongering rumour that individual owners will be barred from owning a HDB flat in the future if they did not vote in favour of privatisation?
12.Why is the HDB keen to help us enhance the value of our asset?
While we have the opportunity to look into some of the specific issues that will crop should the estate be privatised, we are choosing to ignore these, and preferring to get by on generalisations and non-committal answers even as we are asked to make a commitment to privatise. I hope this way does not become a precedent such that should the estate become privatised, decisions will be taken on the ‘do it first, discuss the specifics later’ manner as it seems to have been done in the present exercise.
Dear Mr Lim,
I believe that we should appreciate the effort of the organisers of this privatisation exercise as it opens up a window of opportunity to enhancing the value of our estate. This window of opportunity is open to all residents. Some may appreciate the enhancement of value while some may not need the enhancement of value as they may already have no need for further financial enhancements. At the end, it must be left to the majority of 75% in this case. There will be many others who may find lots of use for the new opportunities that this privatisation exercise brings to them.
Most of your questions are technical and specific. I don’t think you would be denied all these information if you requested them from some of the committee members present at the next signing opportunity. As a owner here, we must have all relevant information to make our decisions. As a person who has chosen to sign and agree, I beg to defer that I accept generalisations but I choose to meet the relevant people to ask clear and specific questions, then I make up my mind about the rationale of signing. I think most of my neighbours also sign this way as for most of us, it is the most important decision that we are making and we need to be clear headed about it.
I feel a kampung (close knit) approach to this privatisation exercise when I attend the signing sessions at the bottom of Blk 316, and many residents are looking forward to reaching the 75%. I will do my part to assist where I can and I hope that all residents who know of neighbours who have strong objections and queries will attend these sessions to clear all doubts and understand the underlying rationale of the privatisation exercise.
Our estate is a 99 year lease estate with over 22 years used up. The value can only depreciate as the years go by if we don’t do something about it.